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Sports Hedge Fund

Sports Hedge Fund

Centaur Launches Hedge Fund Investing in Sports Betting

A new specialty fund has arrived just in time for the college basketball finals.  Centaur Corporate announced plans to launch a hedge fund investing in sports betting.  The Galileo Fund hopes to do better than other gamblers by betting unemotionally.  As Centaur's managing director notes, "This provides a great opportunity for a clinically-minded group."
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.  Source

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