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In Europe, the creators of a new hedge fund claim that their investors are betting on a sure thing.
Starting this week, the Centaur Galileo fund will be taking a new kind of gamble with funds from their investors. The London based investment firm won’t be looking into real estate or watching for news out of the Middle East for fluctuations in oil prices, they will be watching ESPN.
Actually, Galileo will gambling with there investors future by gambling, literally. The new hedge fund will be the first of it’s kind to make bets on sporting events.
Centaur Group managers feel that they have number-crunching system that can make sports bets with far better results than the casual bettor.
“We put numbers against those things that you and me and everyone in pubs have casual discussions about,” said Tony Woodhams, the managing director at Centaur Group. “That gives us an edge.”
They claim that by taking out the emotion that the casual bettor usually displays and by using fluctuations in odds and point spreads, Galileo is a extremely sound investment.
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