Susquehanna International Group, the Bala Cynwyd quantitative trading firm that owns a 15-percent share of video-sharing social networking giant TikTok, is trying to pique hedge funds’ interest in placing large bets in political-prediction markets, writes Annie Massa for Bloomberg.
While Susquehanna is currently a major player in the options and exchange-traded fund market, its founders had an interest from the start in exploring the statistical side of gambling.
The firm currently maintains a blog on gaming and poker strategy tips and has been working on establishing and expanding its sports-betting operation in Ireland.
It also recently tried to determine how high the interest of hedge funds would be on betting on election outcomes.
And while not many have decided to participate, Susquehanna is willing to take the other side of wagers for up to $100 million per presidential race bet.
However since this practice is banned in most of the country, the funds would have to place bets at licensed betting platforms in the U.K. as well as consulting their lawyers to ensure they are in the clear.
Meanwhile, Susquehanna’s Dublin affiliate could then step in, in essence acting as a behind-the-scenes market maker for the wagers.
Read more about Susquehanna International Group at Bloomberg by clicking here.
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