Why not let us choose how many points a raffle needs to enter?

300, in fact.

there could be a collection thing if that were implemented... so u would need to submit say all your 300 points and wait for another 200 before entering (obviously the time for the giveaway needs to be appropriately made/placed)... if the giveaway ends before u can submit the rest of the points u get those points refunded automatically... of course this would mean that u might potentially have more than 300 points when this happens but this would mean it would take less time for you to collect points for another such giveaway for 500 pts ^^

But the number of generated points will drop too, since it's always 5%. Though i guess it makes sense to limit the entry fee by the game's price, so people don't boost generated points.

The giveaways can generate the same amount of points they do now, but the entry fee will be selected by the creator of the giveaway and it can be anywhere from the normal price it has now up to 300.
So, for example a 10 dollar game would generate 0.25/0.5 points (whatever it generates now) but it could cost 300 points to enter.

think outside the box dude.

Implement a minimum and maximum entry cost of 1 and 300. SO HARD.