When rookie players enter a professional sports league, they are taught about everything from eating right to financial literacy. Starting today, Massachusetts, free of charge, in partnership with Operation HOPE, a nonprofit dedicated to financial literacy. 6a193x
The unique program is the latest from FanDuel on the responsible gambling front, and one that the company hopes will help consumers to not only play responsibly, but also find the right kind of financial balance in all aspects of their lives.
“It’s our view that financial literacy is so important as young people transition into adulthood and build their own families and careers, and we view this is an evolution in our space or in the broader space,” Alison Kutler, FanDuel’s vice president of sustainability and responsible gaming, told Sports Handle ahead of the program launch. “From my past experience, we went into high schools and middle schools and provided trainings, and you can see the impact that it makes.”
Kutler comes from a background in the financial world, having previously worked for VISA, the FCC, and the U.S. Dept. of Commerce. But she says the idea for a financial literacy initiative pre-dated her hiring in July 2023.
“In fairness, I used to work in financial services, so I am familiar with financial literacy programs,” she said. “But when I came here, there were others with the idea. … We are committed to responsible gaming practices and continue to improve and we think improving access to financial literacy is a good idea.”
FanDuel offers its players a suite of responsible gambling tools, including time and spending limits and the opportunity to exclusion lists. It also offers a responsible gambling course in conjunction with Front Office Sports. As required by law or regulation in nearly every legal U.S. wagering jurisdiction, phone numbers and websites offering problem gambling assistance are also part the company’s advertising and marketing.
Coaching available in person or virtually 1856z
But FanDuel’s newest program reaches beyond sports bettors. It will be marketed on multiple FanDuel and Operation HOPE social media channels and d to the general public through spots on the radio stations WBZ and WEEI.
Anyone who wants to participate will be connected with a financial literacy expert who can help an individual not only crystalize what their financial goals are, but help to create a plan to reach them as well. Coaching will be available virtually and in person, and can be used to learn how to do anything from setting up a savings plan for a down payment on a home to balancing a checkbook.
“Operation HOPE’s work has demonstrated that when individuals have a strong foundation of financial literacy, they are better equipped to manage their spending responsibly,” FanDuel President Christian Genetski said via press release. “FanDuel is committed to giving back to the communities in which we operate, and we believe that ing proven financial literacy programs is a natural extension of our work to promote and empower responsible gaming.”
Kutler said the concept is to arm consumers with knowledge even before they choose to spend some of their entertainment dollars with FanDuel.
FanDuel and Operation HOPE have a two-year deal for the Massachusetts program, though Kutler said the vision is both longer term and broader, as she hopes to see the program launch in other legal U.S. sports betting jurisdictions.
Massachusetts has some of the most stringent responsible and problem gambling regulations in the U.S., and FanDuel chose the state as a jumping-off point because it believes the service can have an “immediate impact” in that market.
