An international online gaming initiative which launched amid boasts that it would raise $1bn within a year, split between charities and players, has raised just $26,100 after more than two months of operation.

Jaro, which launched on 16 April, involves players betting against each other in a ‘numbers battleship’ and allocating how much of the price they pay to play goes to charity, and how much goes to the ultimate jackpot for players to win.

At unveiling Jaro declared expectations that it would become “the world’s largest single annual fundraising initiative”. It expected the total pool of money available – to both the ultimate winner and to participating charities – to be $1bn within a year of launching. Some big-name charities, from Age UK to WWF-UK, had signed on to receive a share of the predicted windfall.

Jaro representatives did not respond to civilsociety.co.uk requests for comment, but figures on its website show that of the $26,100 so far accumulated, $14,155 has been allocated to charity.

Jaro, the brainchild of Australian founders with backgrounds in social marketing, is registered in the Isle of Man and by authorities in the UK. It has now launched in ten countries. The UK accounts for the vast majority of its jackpot thus far, with $17,500 from this jurisdiction, according to the Jaro website. Income from players in Germany, Spain, Thailand Mexico, Ireland and the Philippines is $60 or less in each country.