A mix of Sweep (Sweepstake) and Raffle - depending on when you join in. Done with mates or workmates on things like the world cup or grand national. Done exclusively online or it is not a swaffle. Started in UK and spread worldwide.
You can swaffle the fifa world cup 2006 with a load of mates from the pub. They can't accuse you of cheating as the allocations are all random. The Swaffle pot is split between 1st, 2nd and 3rd or all or nothing for the winner.