Entity sports betting is being touted as a viable, legitimate investment by some outfits that supposedly operate on the same principles as mutual funds.
These outfits assert that a sports wager is nothing more than a math problem. So they employ quants and utilize machine learning to enhance their ability to make winning bets. Essentially, financial trading strategies are being injected into sports wagering. This means sports betting is portraying itself as a fund that places bets on sporting events, i.e. a gambling hedge fund.
Take, for example, Priomha Capital, an Australian hedge fund that bets on tennis matches, golf tournaments, cricket matches, horse racing and English Premier League soccer. The company utilizes computer models to place bets. According to Bloomberg, Priomha provided its clients with a 17% return on investment over a six-year period, 2010 to 2015. Priomha recently moved to Gibraltar so it could avoid the cumbersome