"Sports Betting" Hedge Fund ..... anyone?
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"Sports Betting" Hedge Fund ..... anyone?
Posted by gizmoflak on 12/5 at 6:06 pm
Priomha Fund


quote:

In 2010, Priomha Capital’s CLONEY Multi-sport Investment Fund returned +43.10%.
In 2011, Priomha Capital’s CLONEY Multi-sport investment Fund returned +52.35%.


quote:

ostensibly recession proof, and offers returns that are uncorrelated to any other mainstream investment product


YewTube vid



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Posted by UncleLogger on 12/5 at 6:49 pm to gizmoflak
They want a $26k min. for their CLONEY fund. Nah, I'm good.


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Posted by foshizzle on 12/5 at 8:06 pm to gizmoflak
Interesting, but nothing other than what happens in Vegas privately when someone stakes a pro.


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Posted by MikeTheTiger2893 on 12/5 at 10:46 pm to gizmoflak
seems interesting as hell.


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Posted by Jim Rockford on 12/5 at 11:54 pm to gizmoflak
I don't think we're supposed to post FB links, but they have a page where they ostensibly track their bets. I have a hard time accepting this as legit: Are we to believe that these guys are expert enough on every sport known to man to make profitable wagers? It's incredibly hard to become knowledgeable enough in even one sport to turn a consistent profit.

Maybe 10% of gamblers are sharp enough to do it with any regularity, and maybe 1% are proficient enough to make a living at it. If these guys are that good, why do they need our money?

Nevertheless, let's assume this really is legit. The big problem I see is most of these markets are tiny compared to the financial markets. Even a big event like the Super Bowl is tiny compared to the NYSE, and most sporting events are a lot smaller than that. They'd quickly grow too big to be able to bet without killing the odds.

It's easy to make a slick youtube video. I'm betting (SWIDT?) this will end in a lot of people getting bilked, and the principles indicted and on the run.



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Posted by ItNeverRains on 12/6 at 6:09 am to gizmoflak
I have a system during bowl season that's fun, and unless you have the worst luck on planet, fool proof. Starting with New Mexi bowl, bet $50. If you win, bet $50 on next game, if lose, bet $100. If win that game, back down to $50, if lose, $150 on next and so on. Usually I bet the favorite, only once in the past two years have I had to cover with a $300 bet,last year won $400 year before $250, but enjoyed watching every game. $1k is my loss ceiling should I get clobbered. But it's hard to lose 5 bowl games in a row. I'm sure it will happen and I'll be pissed, hopefully not until I win another $350 so it's even money or better over 'x' period of years.

This post was edited on 12/6 at 6:10 am

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Posted by RollTide4Ever on 12/6 at 7:09 am to ItNeverRains
Post picks.


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Posted by gizmoflak on 12/6 at 7:50 am to ItNeverRains
quote:

I have a system during bowl season that's fun, and unless you have the worst luck on planet, fool proof. Starting with New Mexi bowl, bet $50. If you win, bet $50 on next game, if lose, bet $100. If win that game, back down to $50, if lose, $150 on next and so on. Usually I bet the favorite, only once in the past two years have I had to cover with a $300 bet,last year won $400 year before $250, but enjoyed watching every game. $1k is my loss ceiling should I get clobbered. But it's hard to lose 5 bowl games in a row. I'm sure it will happen and I'll be pissed, hopefully not until I win another $350 so it's even money or better over 'x' period of years.


Martingale is the oldest and most deadly system known to man


try this on the "field" at a craps table ... at least you have the opportunity to hit a 2x-payout when your bets get big



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Posted by ItNeverRains on 12/6 at 9:31 am to gizmoflak
So far this has worked for me during bowl season last couple years. I'm never going to lose over 1k, so risk is minimal.

I don't live near casinos. Wouldn't gamble much if I did. I just use a little play money to have fun, maybe I've been luckier than I realize



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Posted by reb13 on 12/6 at 9:33 am to ItNeverRains
I want to live near a sports book. I cannot think of a better place to watch a sporting event, other than live, that there.


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Posted by Jim Rockford on 12/6 at 2:51 pm to reb13
quote:

I want to live near a sports book. I cannot think of a better place to watch a sporting event, other than live, that there.


If you like watching people in the throes of depression as they hit rock bottom. Not saying everybody, or even most people there, are in that situation. But some assuredly are. I'm a gambler, I enjoy it and I do alright most of the time. But you can't overlook the fact that there's a dark side. And I'm afraid this so called hedge fund is going to draw some sick people into it.



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Posted by LSUtoOmaha on 12/6 at 3:41 pm to gizmoflak
quote:

Martingale is the oldest and most deadly system known to man


Yep, the deadliest sentence in that statement is, "It's hard to lose 5 games in a row."



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Posted by foshizzle on 12/6 at 6:55 pm to Jim Rockford
quote:

Are we to believe that these guys are expert enough on every sport known to man to make profitable wagers?


It may be easier than it sounds, what kills most people is the unwillingness to *not* bet. A serious analyst only puts down money on a handful of games.

That said, although according to the link you only pay out of profit (which is better than a hedge fund) that fee is 30% of profits - that's steep. And I'd want to know whether their claimed rate of return is net of fees, that wasn't clear.

A mild alarm bell is that they say they bet on the biggest events. I'd feel more comfortable if they bet on the lesser-known ones. But maybe they actually do and the talk about big events is just advertising.

So it could be legit but I'd want to know more.



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Posted by gizmoflak on 12/6 at 7:11 pm to foshizzle
I think they make a lot of their money on arbitraging and in-game hedging, if I remember right. Picking winners isn't the only concern


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Posted by TigerTatorTots on 12/7 at 7:47 pm to gizmoflak
I'm sure these people aren't picking winners. When you sports bet for a living, you are not picking winners. You have a stake in 10+ different books and bet opposite lines that are slightly off resulting in pure profit. Granted, the profit is most of the time very small, but if you do it every day, it adds up quickly.

For example-
5dimes had
Peyton Manning over 2.5 TDs at -130
Peyton Manning under 2.5 TDs at +105

local bookie had Manning over 2.5 TDs at +140
Manning under 2.5 TDs at -160


Bet $1000 on 5dimes under at +105 to win $1050
Bet $1000 on bookie over at +140 to win $1400

He goes under you win $50. He goes over you win $400. Then there is another subject of arbing which creates equal return on both sides.

I'd venture to say that this is what they do.



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Posted by rickgrimes on 12/8 at 1:22 pm to TigerTatorTots
Is betting on 5dimes legal? Can you get into trouble with the law?

What are some other reputable sports betting sites? Also how do you get it on Vegas sports betting lined? Can you do it online?


This post was edited on 12/8 at 1:23 pm

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Posted by TigerTatorTots on 12/8 at 5:43 pm to rickgrimes
quote:

Is betting on 5dimes legal? Can you get into trouble with the law?

No, online sports betting is illegal in the US, but these companies are all based outside of the US. You can deposit with a credit card and they will send you a check if you withdraw.

quote:

What are some other reputable sports betting sites?

Bookmaker, BetOnline, Bovada are all top notch. I prefer 5dimes though, their customer service is awesome.

quote:

Also how do you get it on Vegas sports betting lined? Can you do it online?
I'm not sure what you are askinghere



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Posted by Jim Rockford on 12/8 at 11:36 pm to TigerTatorTots
quote:

TigerTatorTots


You can do that as an individual gambler betting a few hundred. These guys won't be able to lay down $10 million on Duke-UNC. Nobody will take that kind of action. And if they have any investors at all, they'll need to place a lot of bets to generate their return. I don't see how they can do it.



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Posted by rickgrimes on 12/9 at 2:54 pm to TigerTatorTots
quote:

quote: Also how do you get it on Vegas sports betting line? Can you do it online?

I'm not sure what you are askinghere

Let me clarify. When Vegas puts out odds for sporting events, who they do it for? Is that for people to go into casinos there and bet on these games? If you are not in Vegas, is there anyway to get in in that action? I am a newb when it comes to sports betting and am not familiar how any of this works.



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Posted by gizmoflak on 12/9 at 2:57 pm to rickgrimes
the 2+2 sports betting forum has a good newb intro

Also check out covers



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