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Centaur Galileo, Sports Betting Hedge Fund Inspired By Mark Cuban, Collapses

That’s a notion with which Tony Woodhams, Centaur’s managing director, previously said he agreed.

Mark Cuban is an undeniable idea machine. At this point, the reason for the fund’s collapse is reportedly still unknown.

Galileo, which required a minimum of roughly $135,000 to be come an investor, used a number crunching system that the m88 founders argued allowed the fund to bet on sports with much more accuracy than the casual gambler, according to the Los Angeles Times.

“We have unique software we’ve written over five years that ensures we purely trade on statistics and probabilities,” Woodhams told CNBC in 2010. It didn’t last very long, however, as the fund appears to have collapsed on Monday, according to Wager Minds. “The question really is, which gives the opportunity for a better outcome?”

“When you think about betting on sports, there really is far better information about your local sports team than there is about any local business in your market. . They are right. The localTV station gives a report about every game. But one of his boldest ideas yet may have proven too hot to handle. The local papers cover the team every day.

Centaur, a London-based investment company, launched its Galileo fund in 2010 based in part because of an idea Cuban proposed in a 2004 blog post — creating a hedge fund that invested in sports bets. Start your workday the right way with the news that matters most.

Financial crisis or not, another study, this one by Princeton researchers, found hedge funds to be “far riskier and provide much lower returns than is commonly supposed.” In other words, lots of the bad stuff without so much of the good.

Though Galileo wasn’t a traditional hedge fund, its collapse may highlight some of the risks inherent in others, which aim for high-risk, high-reward investments, sometimes with large-scale consequences. The fund was regulated by Gibraltar’s government, instead of the British government. A recent paper from two Yale professors found that hedge funds may have played a larger role in the financial crisis than many originally thought. Gambling isgambling [sic],” Cuban wrote in his blog at the time. “The process is very clinical, which is our edge.”

Cuban’s original idea for a fund similar to Galileo revolved around the idea thats sports provided more information to investors than actual American companies. John Paulson’s hedge fund, for one, has been tied to claims that Goldman Sachs purposefully created financial instruments they assumed likely to go bust — and then bet against them. “That’s far better than we get from public companies.”

Despite Woodhams’ confidence, it appears that there may have been some red flags indicating Galileo was headed down a bad path, according to Wager Minds. There areradio stations who cover them for hours at a time [sic],” Cuban added.

“It’s not unusual to hear people refer to trading stocks as no different than going to Vegas. In his blog post, Cuban argued that because the sports betting market is less efficient than other markets, anyone who applied a “smart money” strategy to investing in it would have a good chance at success

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Japanese e-commerce giant Rakuten bets big on drones

The company kicked off 2017 by celebrating a world record for the longest drone delivery carried out by its research partner Autonomous Control Systems Laboratory.

CEO Mikitani, who received his graduate degree from Harvard, posted a series of emotional tweets explaining his opposition to Trump’s original executive order on immigration.

In a blog post, Mikitani pledged to support Rakuten’s employees “regardless of their nationality or religion.”

Viber offered to provide free international calls from the U.S.

Rakuten flying drone

Related: How to boost corporate Japan: Stop speaking Japanese

So committed is Mikitani to going global that he made English the official company language back in 2010.

To boost its global standing, the company inked a multimillion dollar sponsorship deal with FC Barcelona, one of Europe’s most successful football teams, late last year. A couple years ago, the automaker announced plans to switch its official language to English by 2020.

And it was one of many global tech firms who slammed President Trump’s travel ban back in January.

CNNMoney (Hong Kong) First published March 15, 2017: 10:17 PM ET

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Rakuten is tired of being known as Japan’s answer to the U.S.

CEO Hiroshi “Mickey” Mikitani expects drones to revolutionize the delivery sector.

The move shocked corporate Japan, sparking rare public criticism. With more than 14,000 employees and m88 casino revenue last year of more than $6.8 billion (781.9 billion yen), it is pushing to become a tech giant on the scale of Google (GOOGL, Tech30) or Alibaba (BABA, Tech30).

– Will Ripley and Melissa Hassett contributed to this report. It also made it easier to hire foreigners, a big advantage given Japan’s aging population and shrinking labor pool.

“It is wrong as a human being to uniformally [sic] discriminate based on religion and nationality,” he continued.

The result is a culture that blends corporate Japanese traditions with a Silicon Valley mindset, said CFO Yamada.

Oh, and that executive who called Mikitani’s plan stupid? That was former Honda (HMC) CEO Takanobu Ito.

Rakuten’s commercial drones are modeled on the airframe used in that flight. One fellow CEO called the plan “stupid.”

Nearly seven years later, finance chief Yoshihisa Yamada boasts that Rakuten “is very open, dynamic and diverse.”

Making English the official language helped the company dispense with the honorifics and deference of Japanese.

Trump’s order originally barred citizens from Iraq, Syria, Iran, Libya, Somalia, Sudan and Yemen from entering the U.S. to countries affected by the immigration ban. Mikitani has not commented on Trump’s revised executive order, which exempts Iraq from the travel ban.

Rakuten takes Japan’s “high quality, really customer-oriented service mind” and mixes it “with the Silicon Valley, little bit techie, dynamic culture,” he told CNNMoney.

Rakuten (RKUNF) this week teamed up with California-based AirMap to develop technology to manage drone traffic in Japan. They hope to allow drones to operate autonomously at low altitude.

Global rival Amazon is also making an aggressive push into drone deliveries.

Related: There is a retail bubble — and it’s bursting

Rakuten is a household name in Japan, but remains relatively unknown elsewhere. The drone flew a container of hot soup 7.4 miles (12 kilometers) to surfers on a beach.

It spent $900 million buying messaging app Viber in 2014, and has also invested in startups such as Pinterest and Lyft.

“The capacity in skies above us is far greater than in the roads beneath our feet,” he wrote in a recent blog post. It’s planning a push into connected devices and artificial intelligence. for the next 90 days. online shopping behemoth

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Will the big game save gaming in Atlantic City?

Atlantic City casino revenue reached a peak of $5.2 billion, and tumbled to $2.86 billion last year nearly two dozen casinos were built within driving distance of the Jersey shore gambling mecca.

Second, as an economic activity, sports betting isn’t a game-changer. The reasons are many. The Trump Taj Mahal has threatened to shut down next month unless it receives concessions from state officials. Florida developer Glen Straub, who submitted the losing bid, is challenging the sale.

But State Senator Raymond Lesniak, an outspoken proponent for sports betting, pushed through a bill this that year that abolished the state’s existing prohibitions against sports betting.

Under a measure New Jersey Gov. Nelson Rose, a professor at Whittier Law School who has written a textbook on gaming law, adding he wasn’t sure if New Jersey’s move will survive a court challenge. and the NCAA have long opposed sports gambling because of fears it would lead to game-fixing. “This whole thing is a snow job.”

A further damper on sports betting profits at Atlantic City casinos is the fact that it’s legal in Delaware and a handful of other states.

Still, sports betting is starting up in New Jersey despite ferocious competition from a number powerful interests. Chris Christie signed into law last week, Atlantic City racetracks and casinos can start accepting sports bets. Over the past few months, operators of the Revel Casino Hotel, which at one time was touted as linchpin of an Atlantic City revival, Trump Plaza and Showboat, closed their doors. Supreme Court refused to hear the state’s appeal, leaving the ban in place.

“I don’t think it’s going to be the lifeline for the casinos,” said Alex Bumazhny, who follows the casino industry for Fitch Ratings, adding that the credit rating agency “doesn’t think it will make a big difference” in Atlantic City.

“Nobody expected such a bizarre move,” said I. Professional sports leagues in the U.S. Despite such concerns, Christie initially moved to permit sports betting in 2011 after voters approved a constitutional amendment to legalize it. The state then eliminated all of its laws outlawing sports betting at tracks and casinos. Casino industry experts have argued that it will be difficult for Brookfield to operate Revel as a casino because it never made a profit.

revel.jpg

A lifeguard boat sits on the beach in front of the closed Revel Casino Sept. According to data from the American Gaming Association, a trade group, about $3.4 billion was wagered on sports at casinos in Nevada in 2012, though the total amount generated by the state’s casinos race books was much smaller. For one, the decline of New Jersey’s gaming industry has been years in the making and was hastened when lawmakers in neighboring Pennsylvania, a key Atlantic City market, allowed casino gaming. . 15, 2014 in Atlantic City, New Jersey.

DON EMMERT/AFP/Getty Images

Earlier this month, Brookfield Asset Management, owner of Las Vegas’ Hard Rock Hotel & Casino, acquired Revel for $110 million, a fraction of the $2.4 billion to build. But that law comes amid a major slump in gambling in the state.

“The reality is that it’s a big deal for Monmouth Park and that’s it,” said Alan Woinski, the president of Gaming USA, a consulting firm based in Paramus, New Jersey, in an interview, referring to a struggling race track in Oceanport, New Jersey, that under the state’s new law will be able accept sports bets. “This isn’t going to save Atlantic City. Though 44 percent of people surveyed by Rutgers-Eagleton poll thought that sports betting was a positive for Atlantic City, another 48 percent were less sure of its value, while another 31 percent thought it would make no difference. A federal court ruled in the league’s favor, and the U.S. The AGA pegs the gross gaming revenue from sports bets at $170 million, a tiny percentage of the $10.9 billion consumers plunked down fun88 in the state’s casinos in 2012.

The NFL subsequently sued to block the law, claiming that it violated an 1992 federal law that restricted sports betting to four states. There probably isn’t anything that can save Atlantic City.”

Atlantic City’s embattled casino industry, which has lost thousands of jobs this year as money-losing operator shut their doors, shouldn’t expect much of a boost from sports betting, experts say.

Another obstacle is that New Jersey residents are divided over the benefits of sports betting

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Play online casino-some basic reasons for playing casino

Online casino bonus is a very popular method of inviting users so that they can create deposit and start playing. These are generally played over the internet using browsers . Most of the people consider it as illegal . Casino is illegal but not in all countries. Shall we play? If you really want to play this then first grab some extra information over this and this can be undertaken by searching over the internet. Online casinos allow gamblers to play and wager on casino games through the internet.’

. Now the choice concerning this is on your side as whether you want to play web based or download based.

Now this is really up to you. Download type of casino processes quicker than web based. According to the Wikipedia, ‘online casinos, also known as virtual casinos or internet casinos are online versions of traditional casinos. If you don’t want to danger your own money then you can go for this no deposit casino.

I suppose you’ve got sufficient information over casino. First Category is web based online casino. Online casino and online gambling are often participated for entertainment and earning money. Online casino or gambling relates to playing casino or gambling over the internet. Now we’ll take look at the most common used terms in online gambling and casinos.

John Simpson is an article author and has been writing article for online casino.

Author’s Bio: 

From booking a movie ticket to booking a place for marriage , each particular thing can be done over the internet and so as gambling. Second class is download based online casino. As the name suggests, for this you have to download certain softwares for playing this type of casino. This is something full of excitement, excitement , luck, luck and money . These are divided into two categories such as web based online casino and download based online casinos. With this you can get some more shots to win. If you are eager to play casino then first consider the rules and regulations of your country whether it is allowed or not. No deposit casino is the online casinos with no deposit money are a good way to start gambling online. Just search over the internet. These are the web pages where players play casino without downloading any software. If you need any type of more information regarding this then you can visit them.

Most of the people don’t even know that these online casino games are classified into categories

Nevada casinos hit by massive losses

Nevada’s 271 casinos collected a hefty $24.6 billion in fiscal year 2015 (which ended June 30,) according to the state’s Gaming Control Board.

The problem: Visitors are spending plenty on restaurants, booze and glitzy shows featuring Jennifer Lopez, Britney Spears and magician Criss Angel.

It’s not that casinos don’t bring in plenty of cash.

Nevada’s casino industry lost $662 million last year, and has been in the red consistently for six years. Things hit bottom in 2009 when the industry posted a staggering loss of $6.8 billion. That’s why we’re losing money.”

It’s a trend that began with the Great Recession in 2008. He said that Vegas expect to have 42 million visit in 2016, which would be a record.

CNNMoney (New York) First published January 8, 2016: 5:12 PM ET

. “But gaming is lagging.

Related: Steve Wynn: Macau casino crackdown ‘preposterous’

“More people are coming to Vegas, but they’re spending differently,” said Lawton. “Basically, gaming (revenue) hasn’t quite caught up and non-gaming is leading.”

The good news is that the industry’s losses have been narrowing every year, and Lawton is optimistic that the Nevada casino industry will start making money again this year. But spending on actual gambling is way down, according to Mike Lawton, senior research analyst for the Gaming Control Board. That’s up from $21 billion in revenue for 2010.

Related: More Atlantic City casinos may close

“The Strip is at an all-time high in revenue,” he said, driven by hotel rooms, the second biggest spending category behind gambling, as well as retail and entertainment. And if people aren’t gambling as much, that means they’re not losing as much

The 10 best places to retire

There are a couple of surprises on the list, and a couple of places where housing is a bit more expensive, but it’s a lot cheaper now than it was five years ago. Both important considerations, sure, but talk to retirees, even in this age of rampaging austerity, and you’ll find most are looking forward to a retirement filled with friends, travel, volunteer opportunities, a wide variety of activities – both physical and intellectual. In other words, a rich life, richly lived. But we also focused on lifestyle, on finding places where there is a balance between outdoor recreation, cultural and educational institutions, a good airport, and good public transportation, which isn’t always easy to find in America’s smaller cities. Finally, these retirement spots have economies that have remained relatively vibrant, which means the lifestyle you see today is likely to be around tomorrow.

Rear view of a couple sitting on deck chairs enjoying vacation

iStockphoto

Whenever experts set out to find “great places to retire,” they tend to dwell on cost of living and health care. We also considered places your friends and family would love to come visit. . All have good medical care and most are extremely affordable. After all, if you’re striking out on a new life with new friends, it’s a bonus to be get lots of visits from old friends. So our list is an attempt to find the best places for the good life

Weird News, Odd News, Funny News Stories

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A self-proclaimed “donkey whisperer” is encouraging people in London to use technology to help them understand donkeys’ emotions and mannerisms. | Video

NEW YORK Three suspected burglars who stole millions of dollars from two New York banks were caught after using a personal credit card to buy the tools of their trade, authorities said.

Jul 27 2016

PRAGUE A drinker who could not pay his bar bill left his clothes at the pub as collateral as he headed off naked to get cash, Czech police said.

Jul 27 2016

Aug 03 2016.

Jul 26 2016

LAHORE, Pakistan A Pakistani opposition lawmaker on Wednesday proposed banning 24-hour cartoon TV channels, specifically the popular Japanese series “Doraemon”, drawing ridicule on social media in a country fighting corruption, poverty and Islamist militants.

While in other parts of the world honeybees have been creating a buzz because of their rapid decline, in New York their population has been soaring for the past few years, literally

6,000-1 odds for Charles Barkley to win celebrity golf tournament

Cudney has been setting the odds for the celebrity tournament since the mid-1990s. “But I’m a little too old to be trying to take sports serious — I’m out there to relax and have a good time.”

. But a few risky folks believe this is his year, or, more likely, simply want a souvenir betting ticket on the NBA Hall of Famer. Golden State point guard Stephen Curry (6-1) has attracted “by far and away” the most bets, Cudney said. As of Thursday afternoon, 10 bets had been placed on Barkley to win the tournament at the sportsbook at Harveys casino in Lake Tahoe, Nevada.

Barkley finished 90th out of 91 golfers at last year’s tournament, besting model Kim Alexis by two points and coming up just 178 points shy of champion Mark Mulder, the former major league pitcher.

Curry’s teammate Andre Igoudala and Curry’s father, Dell Curry, are also in the field, each listed at 30-1.

Leicester City overcame 5,000-1 odds to win the English Premier League, so surely lovable long shot and noted horrendous golfer Charles Barkley has a chance at this week’s American Century Championship celebrity tournament at Lake Tahoe, Nevada — a 1 in 6,000 chance.

Barkley is 6,000-1 to win the tournament, which tees off Friday at Edgewood Golf Course. He’s by far the biggest long shot in the field, with slightly worse odds than Jacksonville Jaguars quarterback Blake Bortles and comedian Larry the Cable Guy, who are each 3,000-1.

“I would love to play great golf, but I think it’s probably not going to happen for me, man,” Barkley said. He says the largest bets on the tournament have been in the “$10,000″ range, but most are small bets, especially the ones on Barkley, who didn’t exactly ooze confidence about his game in a June press conference promoting the tournament.

Mulder and professional tennis player Mardy Fish are co-favorites at 3-1. Former MLB pitcher Eric Gagne (5-1) has attracted the most money as of Thursday.

“I think they use them to get autographs,” Harveys sportsbook manager Dave Cudney said of the bets on Barkley.

Barkley has finished last five times in his 20 appearances in the tournament

Political Prediction Market: Hillary Clinton odds for the White House at 82%

It is not to be confused with polls from real voters.Clinton experienced a bump in poll numbers after the Democratic National Convention; in a CNN/ORC poll released Monday, Clinton leads Trump by 9 percentage points, 52% to 43%, in a head-to-head matchup.

CNN’s Political Prediction Market is an online game administered by the company Pivit, which functions like an online market and allows Internet users to predict the outcome of the election. His odds have been falling since the end of the Republican National Convention, when he was at 40%. Trump received a bump following his party’s convention, but a week of controversies, including his reluctance to endorse House Speaker Paul Ryan or Sen. Story highlightsRepublican nominee Donald Trump’s odds are at 16% for the presidencyHis odds have been falling since the Republican National Convention ended, when he was at 40%

Republican nominee Donald Trump’s odds are at 16% for the presidency, down 9 percentage points from Monday, according to the market. John McCain, as well as his public feuding with the family of a slain Muslim US soldier, have led to a drop in his odds in the Political Prediction Market.

Horse racing-California Chrome owner continues attack on rules | Reuters

Here’s my number.”. You can call me up. Sometimes your emotions get in front of you. He hasn’t been in the game long and hasn’t had any bad luck.”

NEW YORK Steve Coburn, the outspoken co-owner of California Chrome, continued his bitter attack against the rules of the Triple Crown a day after his horse was beaten in the Belmont Stakes.

“But I’m sure, one of these days, sooner or later, we need to break this, this bad karma.”

Sherman also told reporters on Sunday that he had no problems with the rules that had been in place for almost 150 years and expected Coburn to apologize for his comments.

Like so many other horses that had failed at the final hurdle, California Chrome struggled to reproduce his best over the 1 1/2-mile (2,400 meters) distance of the Belmont.

Winner of the Kentucky Derby and the Preakness Stakes, California Chrome had the chance to become just the 12th horse to complete the elusive treble but came up short when he dead-heated for fourth place in the Belmont on Saturday.

But Coburn was unrepentant, insisting his horse had been robbed by an unfair system.

“I don’t regret a thing I said,” Coburn said.

“I don’t feel bad because of California Chrome, he was just a little bit empty,” Espinoza said.

“If you want to call me a sore loser, have at it. Don’t forget he’s a fairly new owner.

California Chrome injured his foot at the start, suffering a small cut behind his right hoof but Art Sherman, the colt’s 77-year-old trainer, said it had no impact on his flat performance.

Perhaps fatigued after competing in three races over five weeks, California Chrome also found the challenge of racing against fresher opposition too much.

(Reporting by Julian Linden, editing by Gene Cherry)

“These people nominate their horses for the Triple Crown and then they hold out two (races) and then come back and run one,” Coburn told ESPN.

His trainer and jockey both accepted the loss with grace, saying the horse had been beaten fair and square, but Coburn launched a scathing attack on the connections of the horses that beat him.

“Would it be fair if I played basketball with a child in a wheelchair?”

Immediately after Saturday’s race, he called them “cowards” and “cheaters” because they did not run in all three races – which they are not required to do under the rules.

“Horses aren’t cowards and the people aren’t cowards,” Sherman said.

The advocates for change have suggested the gaps between each of the races should be widened to give the best horses more time to recover but the traditionalists argue that the Triple Crown would be devalued if it became too easy.

The format for the Triple Crown had already been under scrutiny because no horse has achieved the feat for 36 years.

The connections of Tonalist declined to respond to the comments Coburn made about him, but plenty of others did, deriding Coburn on social media as a sore loser.

California Chrome’s jockey Victor Espinoza, who also won the first two legs on War Emblem in 2002 only to be beaten in the Belmont, said the Triple Crown was not impossible but only a very special horse with a luck on his side could do it.

“That would be like me at 6 feet 2 inches playing basketball with a kid in a wheelchair…

“He was at the heat of the moment