Saturday 20th September 2008 Hedge funds looking at the poker industry
There has been an interesting development over the last few weeks with a number of major financial hedge funds now looking towards the poker industry for their next big bet. Using top of the range risk management software they are looking to put together a pool to back some of the best poker players in the world and take a cut of their winnings.<br />
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While there is very little meat on the bone as yet it seems as though these massive hedge funds, which incorporate very complex risk management systems to run their business models, believe that it is possible to become heavily involved in the industry and act as a central bank for those who are maybe good enough to hit the big time but do not have the backing.<br />
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This will not be a sponsorship type system, more of a pure financial play which will use funding from a central pot to increase exposure to poker players. By identifying what makes a good player, the age and where they come from it should be possible to strip away the no-hopers and give the ‘investment’ a great environment in which to grow. Watch this space as the hedge fund players seem intent on making it happen!
Source: gambling_CMS_tmark938
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