Galileo Managed Sports Fund Bets On Sporting Events in U.K.

Published Friday, July 09, 2010 -

The Galileo Managed Sports Fund, is taking money management in a whole new direction. A start up hedge fund is based in London U.K and it has turned the novel idea into a real time win for investors. Without the traditional trappings of ordinary financial markets the group has been moving funds into areas that bet on sports in the United Kingdom which has so far been profitable for the fund.
Managers say that investing in sports wagering is more predictable and fun than the volatile stock exchange.
The Galileo Managed Sports Fund, began it's new trend back in April of 2010, and has attracted about 20 investors, that put at least $125,000 each into the scheme. These investors entrusted the managers to put their money into sports bets through internet sports books in the U.K.
With the usual wins and losses the overall trend is up and is realized a profit during the 2010 World Cup, of 8.58 per cent.
The Galileo Managed Sports Fund managing director, Tony Woodhams, has had a few wins and losses too as critics of the idea voice their concerns that betting on sporting event outcomes is pure gambling and not thought out speculation with real research and facts.
Mr. Woodhams says that what he is doing is no different from the Wall Street investors who basically gamble on  companies that may or may not do that well.
Woodhams is confident that Galileo is a solid hedge fund and no different from other similar funds. He says betting on sporting events is actually a safer bet than investing in say the financial sector.
Woodhams explained that turning a profit on wagering on sports in the U.K. requires non emotional choices based on facts and figures not on favourites. Galileo looks at the statistics and makes it's choices based on knowledge and trends, which so far have made money. The Merrill Lynch investment firm recently predicted that the global online gambling market will be worth $528 billion per year by 2015. 




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