Mark Cuban's Sports Betting Hedge Fund

A number of years ago, Mark Cuban publicly said that he thought there was an opportunity for someone to create a sports betting hedge fund. As far as I know, the idea died when he took over ownership of the Dallas Mavericks. At the time, there wasn't even a suitable vehicle for such a fund, due to the ambiguous legal status of sports betting in the United States. However, I wonder if daily fantasy sports contests will eventually be appropriate for something like that. They offer a legal means of profiting from superior sports selections, a less efficient market than betting on major sports, and more opportunity to diversify picks within one day. All we need now is the publicity and traffic to be able to support the volume of picks a fund would have to make to be a worthwhile pursuit.