December 01, 2004

Know When To Fold ĎEm

Having already conquered (heh) the world of reality TV, Mark Cubanís got another idea: heís starting a hedge fund, based entirely on gambling. The fund will operate much like any other of its kind, except that Cuban will hire professional casino and sports gamblers in order to place all the bets. The idea being that gambling on games of chance is no different than the plain-old stock market.

Iím not sure how legit the idea is- knowing Cuban, he may be just kidding. While itís an intriguing proposition, the idea of the owner of an NBA franchise directing a hedge fund which involves sports gambling should certainly give the league office pause, should it not? Sounds to me like The Benefactor would have an SEC problem on one side, and a Pete Rose problem on the other.

Posted by Stephen Silver at December 1, 2004 07:49 PM

Gotta be a joke.

Posted by: Mark Schulman at December 2, 2004 01:22 AM
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