Sports Betting Hedge Fund At The Starting Gate

Mar 31 2010 | 2:42am ET

Emotional gamblers are almost always terrible gamblers. It is a maxim that one new hedge fund hopes will take it all the way.

Centaur Corporate will launch a new hedge fund investing in an odd asset class, if it can even be so called: sports betting. The firm’s new Galileo Fund won’t be buying shares in sports books or online betting exchanges, but will actually gamble on them.

Galileo is counting on its fellow “in-running” gamblers—those betting on events already in progress—to be too emotional to bet wisely, offering it a chance to get better odds.

“It’s more an entertainment for them,” Tony Woodhams, managing director at London-based Centaur, told the Financial Times. “This provides a great opportunity for a clinically-minded group.”

The new fund will bet on soccer, racing and tennis on online exchanges, according to the newspaper. It will be regulated in Gibraltar and be open only to experienced investors.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.