I notice that HN has a super anti sports bet bias so before you jump me considerate the uniqueness of sports bets in the vast landscape of financial bets one can make.1) It s the only field in which you don t need the consensus to solidify around your position in order to make money, as a matter of fact you HOPE that the consensus doesn t solidify around your position until the gameclock reaches 0:00 and your prediction becomes true.2) Thanks to prediction markets though (and the already known betting exchanges such as Betfair and the huge landscape of Asian ones), a sport bet can also be liquid meaning that you can also profit from consensus solidifying around your bet.3) The market can stay irrational more than you can stay solvent, that is a recurrent theme in investing but with sports bets you have a hard deadline for the market to resolve and gain its rationality back as opposed to the normal markets which can stay irrational forever because the public can be captured by yet another narrative once one loses steam.4) UHNWI tend to hangout together so the investors and the administrators of a hedge fund could have access to the actual players deciding the outcome of games and thus they could accurately judge their mental and physical form and if needed be they could also persuade them to make a determinate result happen..What do you guys think? Why hasn t this sort of fund develop yet ? At least publicly?Do you think hedge fund already incorporate sports bets in their portfolio but they do it in secret?