Guy LalibertÃ©’s ONE DROP foundation received a substantial donation of more than $5 million from the World Series of Poker (WSOP) and its patrons, thanks to another busy summer of tournament action in Las Vegas.Â Continuing a relationship that started two years ago, the latest charity tournament with the poker community saw $5,273,047 handed over to LalibertÃ©’s accessible water charity.
Thanks to bond between the non-profit organization and the poker world, children in need of clean water have benefited to the tune of more than $12 million since the first Big One for ONE DROP event back in 2012.
Before the start of the 2014 WSOP, the organizers set a target of $5 million, and thanks to another successful $1 million charity event, that total was easily beaten.Â Looking specifically at the breakdown of this year’s numbers, the Big One for ONE DROP collected $111,111 from each of the 42 entrants, bringing the total amount raised to $4,666,662.
Needing less than $400,000 to reach the intended target, the Little One for ONE DROP then proceeded to raise a further $499,056 for the charity, before an extra $107,329 in donations was collected.
Delving further into the financial particulars of the WSOP-ONE DROP alliance, the initiative has also been given an additional $5 million of “in-kind donations,” stemming from the TV deal between ESPN, ONE DROP and the WSOP.
In addition to this extra cash, the finalists in this year’s WSOP Main Event are yet to collect their final paychecks and, thus, could also make a donation to the cause.
Regardless of the money still waiting to be collected, the latest $5 million+ gift from the community is the largest single-year donation ONE DROP has received from a corporation since its inception.
Commenting on the success of this year’s campaign, Caesars Interactive Entertainment CEO Mitch Garber explained that his team is “very proud of the poker community who has opened their hearts and wallets so generously in order to make a difference.”
About ONE DROP
Born out of Guy LalibertÃ©’s desire to help the world’s poorest communities, ONE DROP has since become a major player in the fight for universal access to clean drinking water. Founded in 2007 and operating on a non-profit basis, the charity is able to improve the living conditions of thousands of people each year. According to ONE DROP’s data, $100 can dramatically change one person’s life and give them access to safe, clean water.
The bond between the WSOP and ONE DROP was formed in 2012, after LalibertÃ© persuaded many of his high-stakes poker-playing friends to take part in a $1 million charity event. Since that time, the tournament has not only raised millions of dollars for charity, but it’s become one of the most significant poker events in the industry.