BUSINESS

Sports betting hedge fund ‘Galileo’ launched

TAGs: Galileo, sports betting hedge fund

Gallilleo

Almost six years ago, Dallas Mavericks owner Mark Cuban blogged his intention of starting a sports betting hedge fund, but the idea fell by the wayside after NBA lawyers told Cuban he’d be running afoul of league bylaws. But certain people thought it was a good idea, in particular an English investment firm called Centaur, who’ve just launched a fund called Galileo. Galileo’s managers claim they utilize quantitative analysis to take the emotion out of the betting game. Maybe if Gilbert Arenas had elected to take the emotion out of the locker room by utilizing quantitative analysis (instead of, say, a loaded handgun), he wouldn’t be sitting at home watching the rest of the NBA season from his sofa. Read more.

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