Someone else can probably explain better than me, but essentially it's a group that conducts beer lotteries/raffles. Someone puts a bottle (or bottles) up and other people buy into the lottery/raffle. They are technically illegal since for-profit private raffles are, to my knowledge, illegal in all states.
based on the lottery numbers. You buy a spot with the chance that the Lottoball number is yours. Boom, bottle is yours.
They call it a razzle so that Facebook and other sites won't pick up on the word "raffle" and shut them down I think.
According to Webster's dictionary, it is a loosely tied together hierarchy of Socialists, cunnies and assholes that raffle beer for a living instead of finding any way at all to make a positive contribution to society as a whole.
Not sure there's anything more entertaining than people who don't understand things like independence of events and the Law of Large Numbers but are so sure their completely-incorrect "understanding" of mathematics is right. I think I've seen literally every possible version of the Gambler's Fallacy occur. I'd be interested to observe how some of those people bet at a roulette wheel.