Hedge funds that bet on sports

Havery@euromoneyplc.com said: "Hi. Does anyone know of any hedge funds that bet on sports or arbitrage sports leagues? There must be some out there, other than Mark Cuban's supposed fund, but I'm having trouble finding any."

HappyHarry said: "So you mean an actual gambling hedge fund?"

Havery@euromoneyplc.com said: "Yes. Not sure if they really exist, but Mark Cuban did mention he was going to set one up, so was sure there would be others."

alhamid said: "i found this post from [url=http://www.blogmaverick.com/entry/1234000570021684/]cubans blog[/url] there do not appear to be any other ones according to google. even his hedge fund faces many obstacles, especially since he owns nba team"

Havery@euromoneyplc.com said: "thank you. I did read that - it's hard to tell if he was being serious or not. Still will keep trying. Some of the responses hint that others are doing it - Paloma, SAC Capital etc."

AlfredSokol said: "This is an interesting subject but I can't imagine how a hedge fund could manage risk in this environment."

BarbBQ said: "i'm skeptical of this. seems like you could just play the lottery?"

Sol Teague said: "You've got three hedge funds involved in Manchester United via Malcolm Glazer. Does anyone know of any other hedge funds involved in sports teams? The only other one I can think of is JW Henry owning the Boston Red Sox. But that isn't really the same. Are there any other hedge funds taking a punt on a sports team in a comparible way to what is happening with Glazer?"