Formula E CEO Jeff Dodds has donated $250,000 to two different charities after a famous bet based on Max Verstappen.

Dodds said in the build-up to the F1 season that the title was “99% done” and that if any driver other than Verstappen won, he would part with a quarter of a million dollars.

Formula E CEO pays out despite Max Verstappen bet win

To Dodds’ credit, despite the bet coming true, he has still opted to donate the figure to charity having spoken with Verstappen shortly before the Formula E season began last weekend.

Half of the money will go to Wings for Life, Red Bull’s partner charity aimed at finding a cure for spinal cord injury while the other $125,000 will go to the establishment of a new fund supporting initiatives dedicated to providing greater opportunities for women in motorsport.

“What started as a very tongue-in-cheek ‘bet’ at the start of the season has evolved into a serious commitment to support gender equity within our Championship, with the ultimate goal of seeing women competing full-time in Formula E,” Dodds said.

“As a first step, the research we have commissioned in partnership with More Than Equal will help us better understand the barriers to entry that women currently face, and how specifically Formula E and our teams can provide greater parity, opportunities and inclusion at the top level of our championship.

“My thanks also go to Max and Oracle Red Bull Racing for committing half of the money from my original wager to Wings For Life to support the important work they do around spinal cord research. Congratulations to Max on his fourth-consecutive World Drivers’ Championship and we look forward to even more competitive racing next season.

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“Meanwhile, the new Formula E season is already well underway and we’re excited to showcase more thrilling races, lots of exciting overtaking and fantastic wheel-to-wheel action for our fans across the globe.”

Verstappen said: “The charity closest to me is Wings For Life and I’m sure they’ll be very grateful; and to support any kind of motorsport and young talent is amazing, so I think it’s a great shout from you.

“Thank you very much Jeff, I wish you all the best of course, and I’ll be watching the championship during my time off!”
CEO of Wings for Life Anita Gerhardter said: “A big thank you to Jeff Dodds, the entire Formula E team and Max Verstappen for this generous donation to Wings for Life.

“100% of the donation will go towards promising research projects around the world to help find a cure for spinal cord injury.”

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