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Alternative Market Briefing

Centaur’s Galileo Sports Betting Hedge Fund Collapses

Tuesday, January 31, 2012

Bailey McCann, Opalesque New York: Centaur, a London-based investment company launched the Galileo fund in 2010, a fund based on hedging sports. However, according to the Huffington Post, the fund collapsed on Monday.

The fund was based on an idea in a 2004 blog post by investor and public figure, Mark Cuban. In his post, he proposed a hedge fund that invested in sports bets. According to Cuban, sports provide more insight to investors than American companies.

The fund relied on a mathematical model that allowed the fund to bet on sports with more accuracy than an individual gambler. The Huffington Post ......................

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