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Former Auburn track teammates helping charities raise funds via sports gambling

What's the over-under on philanthropy?

Two former Auburn track and fielders are betting that folks will really be into gambling for a good cause.

In November, Dave Maloney (’01) and Marc Hodulich (’02) started Charity Bets, a non-profit allowing donors to wager on an athlete’s performance in a particular sporting event. At their first big event last weekend, long distance runner Meb Keflezighi scored his Meb Foundation a solid grand by winning the U.S Olympic marathon trials. Here’s ESPN last week explaining how it all works:

Go to the organization’s website this week and you can place a bet on 2004 Olympic silver medalist Meb Keflezighi’s goal to finish in the top three of this weekend’s U.S. marathon trials in Houston. You could place any amount (say $100) on “The Over” he accomplishes his goal and any amount (say $5) on “The Under” that he doesn’t. Under those circumstances, if he qualifies, he goes to the Olympics and you give his charity, the Meb Foundation, the $100. If he finishes fourth or lower, he stays home this summer and his charity gets only the $5 you wagered on that outcome.

Other Olympic hopefuls have also partnered with Charity Bets for the U.S. Olympic Trials in June and the organization is hoping to soon develop a model for team sports.

In a story published this week, Maloney told Sports Illustrated: “I think we’re on the cusp [of something big].”

h/t Doug Abernathy.

Related: Auburn grads start a Netflix for neckties.

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