Social responsibility initiatives have become a major part of the business of many operators, but the founder Fandona Juraj Antal made this the main goal of his firm.
Speaking to Evan Vichy in an interview for Tatum Antal explained how Fandona aims to tackle income inequality through sports betting, an ambition that the host called "probably new to most people, myself included" in scope and momentum.
Who is this?
Hosted by Evan Vichy, Tatum Community Manager
Speaker — Juraj Antal, Founder of Fandona
What do they say?
Outlining his corporate approach and goals, Antal said: “Fandona is here to financially reward charitable donations in order to increase the amount of donations around the world and thereby help reduce income inequality. We link charitable donations to sports betting so that people make donations during their natural activities, which are repeated over time and bring them pleasure, and hopefully people will be rewarded from this.
“It also creates a stable and sustainable demand for the Fandona currency, which is a useful coin in our systems. It's always good if you have some natural spending on what you're used to, in this case betting. It is the mission to generate charitable donations in a transparent and decentralized way.”
Detailing how Fandona works, he added: “Imagine you have two teams and they have the same 50/50 chance of winning, but the first one is more popular for some reason and people are betting on the first. In classic betting, you need to compensate - winnings are paid out from the losses of other players.
“In the classic system, there are a certain number of betting deposits and you need to balance wins and losses so that you can pay for the winnings. However, things are different in Fandon as we invite anyone to become a bookmaker, so we don't have to compensate anyone for popularity and increase the loss.”
Why should I watch this?
Hear a unique perspective on corporate social responsibility in the betting industry from a company that has placed the fight against income inequality at the heart of its commercial strategy.
Where can I see more?
Source - Tatum YouTube channel
Fandon's post: Using sports betting to fight income inequality first appeared on GamblingTV.com.