Don't trust Wall Street? Try Galileo fund. 

April, 14, 2010
04/14/10
12:03
PM ET

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).

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