London Company Looks to Set Up Poker Hedge Fund
Manro Haydan, a London trading company is looking to stake a bunch of online poker players and create the worlds first poker hedge fund. Essentially a large scale backer operation, Manro is going to create a large fund appropriately called “BadBeat” to fund the players. BadBeat covers all losses and splits the winnings with the players.
The guy at Manro is clearly NOT a poker player but had this to say, “There aren’t enough players that would accept our terms because 99 per cent of them want to fund it themselves. It is a quite different mindset.”
Clearly he’s never been to many Internet poker forums, where beggars run up and down the virtual rail, asking for a stake. While Manro is clearly targeting the nosebleed players, the result may still be disasterous. First of all, there are many player “collectives” where they’re pooling their funds to back each other. The trust level is higher and frankly, more convenient to the players.
So whether this little venture works remains to be seen. In the meantime, I hear Mike Matusow is looking for a little bankroll injection…
Source http://www.ft.com/cms/s/0/c749205e-86ab-11dd-959e-0000779fd18c.html
