Over the weekend, the Financial Times published a great article about America’s favorite charity-driven prediction market: our very own Bet2Give. Exploring the intersection between philanthropy and online betting requires dedication and persistence, which is another way of saying that the value proposition isn’t immediately obvious to everyone, but the FT’s article highlights an exciting new trend: Some charities are now linking to Bet2Give from their home pages, encouraging their members/donors to use our prediction market as a fund-raising tool. Cool! That’s exactly what we built it for.
There is a discordant note at the end of the article, where respected philanthropy consultant Lucy Bernholz questions whether Bet2Give’s donations aren’t just a gimmick to draw eyeballs. Well, we obviously want to grow traffic, because that translates into impact. But Lucy should realize that 95% of the money that is put into Bet2Give by its traders is eventually given to their chosen non-profits. That’s hardly a gimmick. Few non-profits, in fact, have such low overhead fees.
The article also discusses Longbets.org, another great site well worth visiting.