La Liga Club Osasuna Reportedly Used Kalshi to Hedge Relegation Risk
9 Articles
9 Articles
The red club released a statement to clarify the hiring and assures that it is a common practice in LaLiga
The reddish entity contracted a policy worth 1.2 million euros to protect itself if it fell to Second Uxu
Osasuna's name has appeared - not to mention directly - in Semafor, an economic portal that follows the current American situation. The reason? A supposed bet of "several millions of dollars" on the last day of the League. "A football team bet against itself. This is the (good) future of the predictive markets," says the striking headline. The story is complex, but has its explanation.Read more]]>
Key points of the news: Osasuna bought €1.2M in downside insurance through Howden, with a cover that would have paid €6M if the club went down from La Liga. Coverage allegedly involved a bet on the Kalshi prediction market, while Susquehanna would have been the counterpart and Game Point Capital helped structure the operation. Osasuna survived by goal difference, lost coverage and faced questions while Spain temporarily bans predictive markets f…
La Liga club Osasuna reportedly used Kalshi to hedge relegation risk
Spanish football club Osasuna attempted to hedge the impact of its relegation from the country’s top football league by buying a €1.2 million ($1.4 million) insurance policy involving a bet on the prediction market Kalshi. The club revealed today that it purchased “insurance” from broker Howden, which would’ve guaranteed it €6 million ($6.9 million) in the event of relegation from La Liga and helped cover any subsequent financial losses. It sai…
The Osasuna Board of Directors met urgently before the last League party with an unusual issue on the table: the hiring of a sports contingency insurance of 1.2 million euros with the firm Howden in case it went down to Second Division. In case of 'sinister' (the descent), the red ones would have received 6 million euros, a pyrrhic amount in the face of the economic-sport disaster that would have meant losing the category.What seemed an extremel…
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