First Ever Sports Gambling Hedge Fund Begins This Week In Europe

Dallas Mavericks owner Mark Cuban usually tells it like he sees it and for year, Cuban has been saying that a sports gambling hedge fund could be a major money-maker. His theory will be put to the test starting on Saturday.

The Centaur Galileo fund in London will give investors the opportunity to place their money in the fund, and then hope that the number crunching system used will provide maximum returns. The hedge fund group is convinced they can win sports bets at a better percentage than the average gambler.

"You have a lot of sports fans who are betting for their favorite team," said Tony Woodhams, Managing Director at Centaur Group. "They get excited and discipline goes out the window. All of that provides opportunity for a trader like us to go in a very clinical manner. That's where the edge is."

Cuban supports the idea and claims that if the fund truly operates based on statistics, it can be successful. Europeans will be the only people who can invest in the fund at the start. The company is so sure their theory will work, they have set a high buy-in requirement.

Anyone looking to buy into the fund must do so with at least $135,000, or 100,000 euros. Investors in the US will not be allowed to participate, but their time may come in the near future. The company is planning to apply for approval from the securities and Exchange Commission in 2011.

Centaur will take a thirty percent cut of all winning wagers. Twenty-five traders will be positioned on the London trading floor, all ready to pounce on betting lines that move to their liking. All bets will be fair game, including over-under totals for sporting events.

The idea does have some detractors who believe that professional gamblers can better predict a sports outcome than statistical date. Cuban and centaur, however, believe that the statistics will give them an edge of sports books and other gamblers.

April 18, 2010
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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