US sports betting giant DraftKings has committed to donating up to $350,000 towards small businesses owned by women in the US.
The operator will donate the money to non-profit organizations supporting companies of this kind, as well as other female entrepreneurs.
DraftKings will donate $150,000 upfront, with the pledge forming part of the Women’s History Month Sports Popularity Pool.
How will the remaining money be donated?
The Women’s History Month Sports Popularity Pool was set up by DraftKings to celebrate female sporting achievements.
For every 25,000 entries into the pool, the sportsbook will donate an extra $10,000 – capped at $350,000.
Commenting on the initiative, DraftKings co-founder, chairman of the board and CEO Jason Robbins had the following to say: “DraftKings is committed to empowering and advancing women at our company and in the communities where we live and work.
“We are intentional in our efforts to foster a culture of inclusion and belonging within DraftKings and focused on supporting women entrepreneurs and small business owners to help them launch, build and grow their own companies.”
Which businesses will benefit from the DraftKings donation?
DraftKings will support female business ownership initiatives in both the US and elsewhere.
One association that will receive some of the operator’s donations will be the Association of Military Spouse Entrepreneurs (AMSE). This organisation is designed to help the spouses of military personnel launch their own businesses by providing the necessary support and resources.
AMSE co-founders Flossi Hall and Moni Jefferson said: “Military spouses face one of the highest unemployment rates in the country and we are out to lower that through entrepreneurial programming and education.
“This donation from DraftKings will allow AMSE to not only continue our work, but to expand our program by creating more education and resources to help us further our mission of supporting our nation’s military spouses as they build financial stability by starting, scaling and sustaining their own businesses.”
Ladies Who Launch are also set to receive some of the money that DraftKings is distributing. The initiative supports people who identify as women and want to become entrepreneurs, both domestically and internationally.
Ladies Who Launch Executive Director Julie Kikla said: “Ladies Who Launch empowers all women globally to follow their dreams and launch their companies. We are thrilled to see the commitment shown by DraftKings to celebrate women both within and outside their organisation.
“This donation will greatly aid us in growing our education resources, allow for more accessible funding programs like our 2021 Launch Program, and continue to bring female founders together through our events and programming.”
Also benefitting from the initiative will be the Bulgarian Fund for Women. DraftKings has two engineering spaces in Bulgaria; one in Plovdiv, and the other in the capital Sofia. These both followed the company’s acquisition of SBTech last April.