NBA's Marc Cuban Blogs his Plans to Launch Betting Hedge Fund

Filed in archive Betting , Gambling General on December 1, 2004

Cuban says he will launch betting hedge fund

In a plan that goes against Pro-US sports and the US restrictions on gambling, internet-millionaire-come-NBA team owner, Marc Cuban, claims on his blog that he's planning to launch a gambling hedge fund - which he says is no different to the stock market

"I've decided to start a new hedge fund. However, this hedge fund won't invest in stocks or bonds, or any type of business. It's going to be a fund that only places bets. A gambling hedge fund.

It won't be me figuring out what bets to place, or what games to play. This is a fund. I will find the best and the brightest, with a confirmable track record and hire them.

It's an idea whose time has come"Professional Sports in the US has long distanced itself from betting - even stopping a pro team in Vegas - which Cuban supports. However, Cuban is reknowned for criticizing NBA decisions and berating referee decisions. For this - or maybe despite this, he's still adored by the Dallas Maverick fans.

The reaction to the blog so far has been muted, although a professor of public administration at the University of Nevada, Las Vegas states about Cuban, "He is barking at the wind"