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Centaur Galileo fund has been launched by Hedge Fund Centaur Group in London with investments in horse racing, soccer and tennis. The hedge fund is based on number crunching betting system and is one of the first hedge funds to bet on sports events. It will also be making money from fluctuations in odds and point spreads affected by amateur bets.
Tony Woodhams, Managing Director, Centaur Group stated:
We put numbers against those things that you and me and everyone in pubs have casual discussions about. That gives us an edge on these markets. You have a lot of sports fans who are betting for their favorite team. 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.
The company will be having 25 traders working on its London trading floor. At the moment the hedge fund is open to UK investors but the company plans to apply for SEC approval in the US next year. A minimum investment of $135,000 is required in Galileo. For people who can't afford such a big investment, I would suggest online sports betting would be a better option.
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