Social responsibility initiatives have become a core part of many operators’ commercial activities, but Fandona Founder Juraj Antal has made it the primary objective of his firm.
What is it?
Speaking to Evan Vischi in an interview for Tatum, Antal explained how Fandona aims to fight income inequality via sports betting, an ambition the host described as ‘probably new to most people, including myself’ in its scope and dynamics.
Who is it?
Host – Evan Vischi, Community Manager at Tatum
Speaker – Juraj Antal, Founder of Fandona
What is being said?
Outlining his corporate approach and objectives, Antal said: “Fandona is here to financially reward charitable donations with the aim to increase the amount donated globally, and thus contributing to income inequality reduction. We connect charitable donations with sports betting to make people donate during their natural activities, which are repeated long-term and enjoyed, and hopefully people can enjoy the reward from it.
“It also generates a stable and robust demand for the Fandona currency, which is the utility coin in our systems. It is always good if you have some natural spending on something you are used to, in this case betting. This is the mission – to generate charitable donations in a transparent, decentralised way.”
Providing a breakdown of how Fandona operates, he added: “Imagine you have two teams and they have the same probability of winning – 50/50 – but the first one for whatever reason is more popular and people bet on the first one. In classical betting, you need to compensate – the wins are paid from the losses of the other punters.
“In the classical system there is some amount of deposits of stakes and you need to balance the wins and losses so that you can pay for the wins. However, in Fandona this is different, as we invite anybody to become a bookmaker, so we don’t have to compensate anybody for the popularity and increase the loss.”
Why should I watch it?
To hear a unique perspective on corporate social responsibility in the betting industry, from a company which has placed fighting income inequality at the forefront of its commercial strategy.
Where can I see more?
Source – Tatum YouTube Channel