Does throwing the ball at the helpless captives yield a different result?
Solution 1:
You see the couple later on in the game if you decide to throw it at the announcer. Well not too later. And they're like: "We want to help you.". They give you something too.
Solution 2:
There is no immediate difference between the choices at the raffle. Either way, you are recognized before you can even throw the ball and fighting breaks out.
However, later in the game, as you're entering the Battleship Bay arcade, there is a difference based on your choice at the raffle.
If you chose to throw the ball at the announcer, or let the time run out, the captive couple will meet you here and give you a piece of gear as a thanks, as the trouble you stirred up allowed them to escape.
If you chose to throw it at the couple, Mr. Flambeau, the assistant of Mr. Jeremiah Fink (the announcer), will show up instead, and give you a piece of gear on behalf of his boss, who apparently was impressed by your savagery.
Solution 3:
Selecting the captives will trigger the same sequence as with your choice. I tried and was stopped by a policemen who saw the marks.