If you want to this type of giveaway it has to be held by someone not only trusted by held to a higher degree of responsibility. Saying that mods shouldn't host this because other mods have scammed in the past is like saying you can't trust any authoritative (PD) position because there are some bad ones out there. Also the team can also be held grouply responsible for something like this.
It should also be capped. A huge giveaway is nice but no reason it need to exceed like 100$+ If people really want to do this much it can be split. into multiple big ones. (I don't see it getting this much love as raffle type events aren't that popular but it should still be applied)
This being said.
Giveaway = Putting in money for hype only, with no expectation of odd manipulation or higher chances of winning.
Raffle = Putting in money to purchase (X) amount of tickets. ie. (A) Buys (2) tickets and receives tickets 1 & 2. (B) Buys (5) tickets and receives tickets 3-8.
Raffle seems to be what this thread is heading twords but this is against one of the listed rules but theres a gambling hyperlink advet so idk. maybe rules just not updated or only applies to it's users.