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Several hedge funds in Europe and Australia have built substantial businesses betting on sports, often utilizing quantitative techniques not dissimilar to those frequently used to invest in stocks.
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Two trading companies are trying to prove him wrong. Melbourne-based Priomha Capital, which claims to be the “world’s premier sports hedge fund”, wagers on European football, cricket and golf. Founded in 2010, the firm manages about $20m. Stratagem, a rival based in Britain that styles itself as a technology business, wants to raise $25m from rich individuals.
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