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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...