What an interesting week or two it's been in the betting world. Across the globe, literally, gambling is being tested and pushed in entirely different ways.
• In England, for example, a trading firm called Centaur Corporate recently announced it was forming a sports betting hedge fund called the Galileo Fund. Basically, instead of investing in stocks, the managers of the Galileo invest in the outcome of sporting events -- mainly soccer, rugby and tennis. "We're not a gambling company, we're a trading group but our markets happen to be sports probability and statistics," Tony Woodhams, the boss at Centaur, told the UK's Independent.
But Woodhams knows this is a volatile market, so the Galileo bills itself as being for experienced investors only, the kind that also happens to be willing to invest a minimum of 100,000 euros (or $140,000).
To read more about the Galileo fund, plus an update on Congressman Barney Frank's efforts to legalize Internet gambling in the United States, you must be an ESPN Insider.