We are very happy to announce that REG has officially raised $1,000,000 from our supporters and directed these funds to highly effective causes. We reached this milestone just before the end of 2015, and with the publication of our latest transparency report, it’s official.
How we reached this milestone
- REG was started by a core group of poker players, among them Stefan Huber, Liv Boeree, Igor Kurganov, and Phillipp Gruissem, who believed that the poker community would be the best place to kick start a fund-raising initiative for Effective Altruism!
- Through this core network, REG has been able to spread the word about the projects that we are engaging in and build a community of members, who pledge a percentage of their winnings towards highly effective causes.
- During 2014, we were given the amazing opportunity of cheering on pledgers Martin Jacobson and Jorryt van Hoof, who finished 1st and 3rd, respectively, in the World Series of Poker Main Event. Just one year later, REG had another chance to watch one of it’s members play for the most prestigious title in poker, as pledger Max Steinberg finished 4th in the 2015 World Series of Poker Main Event.
- Meanwhile, during the highly successful collaboration between REG and the world of professional poker, REG has been able to reach out and collaborate with like-minded people in other industries as well.
Where we go from here
- We are extremely excited about the prospects of continuing to build this movement both within the poker world and beyond. We are continually approached by new poker players, game facilitators, and investors who share our commitment and passion for reducing suffering in the world!
- Recently, REG has expanded its efforts to the world of Daily Fantasy Sports and Finance. We find that, similarly to effective giving, the methods of decision making that dictate success in these areas are analogous to those used in poker, and therefore are a good fit for REG and Effective Altruism on a whole.
- One thing that we are very proud of at REG is our fund ratio. We’ve managed to maintain about a 10:1 ratio between seed funding and amount of funds raised for our promoted causes. Going forward, we want to ensure that our supporters can rely on the fact that contributing directly to REG will have a multiplying effect on their donations. It seems realistic that this ratio of 10:1 is expected to grow as we continue to spread into new industries.
We remain inspired and impressed by the dedication and selflessness of our members. This is a collaborative project, and we couldn’t have reached this milestone without the support of all of the individuals who stand behind our mission. Thank you so much for your support, and we look forward to continue engaging in this mission together.