Hedge funds try to promote sports betting as an asset class. Is it really recession-proof?
When he was 12, Warwick Bartlett bought “100 Famous Greyhound Systems”, a guide for betting on dog races. After spending a year tracking every stratagem and picking the best two, he went to the races to take his first punts. He lost. Mr Bartlett, now the boss of GBGC, a betting consultancy, says it taught him a good lesson: “A system can win for a period of time. And then it’s had its day.”
Two trading companies are trying to prove him wrong.
This article was first published in the print edition of The Economist. Click here to read it in full