Paddy Power Early Payout Rules
Irish bookmaker Paddy Power is rueing its early forecast of a Hillary Clinton presidency, after a shock Republican victory meant the company were hit for around $5.5m over the US election result. Paddy Power are reportedly paying out bets on Liverpool to win the Premier League barely three weeks into the new season. Paddy Power is an Irish bookmaker founded in 1988 in Dublin, Ireland. The company conducts business through a chain of licensed betting shops in Ireland and the United Kingdom, and by operating Ireland's largest telephone betting service. On the internet, it offers sports betting, online poker.
The bookmakers have been stung twice by the election: first opting to pay out a whopping $1 million to Clinton backers some three weeks before election night and then having to cough up to customers who bet on Donald Trump.
Paddy Power says Trump’s victory means it has had to pay out a further $4.5 million.
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In a statement, the company, known for its brash advertizing campaigns, admitted it had been “Trumped” and left with “very expensive political egg” on their face.
Featuring yokes, naked cowboys & the national anthem our team captures the reaction in NYC as Donald Trump becomes President. #ElectionNightpic.twitter.com/Qp1sdqlhOX
— Paddy Power (@paddypower) November 9, 2016The company cited the renewed FBI investigation into Clinton’s emails as one of the reasons for her loss in momentum in the run-up to polling.
“His [Trump] victory in the early hours of the morning – which has left serious question marks over our company Christmas party – was indicated last week as his odds were slashed following an FBI investigation into Clinton’s private email server,” Paddy Power said in a statement.
“The result also stung us for our biggest political payout ever, we’ve been hit for over $4.5m by customers who backed Trump.”
Just last month the self-described “mischief” bookmaker called Clinton’s race for the White House a “done deal.”
On October 18, Paddy Power announced it was putting its “neck on the line” for more than $1 million by paying out early.
“With the national polls showing a healthy lead for the Democratic candidate and Donald Trump’s campaign running into scandal after scandal, Paddy Power believes it’s a done deal and that Hillary is a nailed-on certainty to occupy the Oval Office,” the bookmaker said at the time.
The Donald’s subsequent White House win has proved lucrative for some lucky punters taking a flutter.
In the UK, betting firm William Hill look set to present one very lucky customer with a $125,000 cheque.
Polls said Clinton would win, then #Trump came in with a clothesline, outta nowhere! pic.twitter.com/lxXkxRWYFm#ElectionNight Via @WillHillAus
— William Hill Betting (@WillHillBet) November 9, 2016British CASTLE OWNER John Mappin is $125,000 better off after betting on a @realDonaldTrump Presidential victory
— Jon Ivan-Duke (@JonIvanDuke) November 9, 2016What Is Early Payout Paddy Power
“I’m not a betting man but I checked the odds at William Hill and they had him at 20-1 [2000] for the nominations and 33-1 [3300] for the presidency, so what I did was rather cheekily took the whole book and put about 33 bets on him,” John Mappin told The Sun.
Meanwhile, it’s reported that UK-based businessman Vincent Tchenguiz claimed $1.1m (£850,000) after placing a $436,000 (£350,000) bet across two brokers.
“I’m surprised by how everybody is stunned that [Trump] actually won,” he told Metro UK.
Paddy Power Early Payout Rules Explained
Betfair has also announced that its biggest overall winner claimed $2.5m (£2m) after placing a stake on Trump way back in the primaries.
An Election race of constant twists and turns and an almost £200 million market. #Trumpedhttps://t.co/VwxXqH0Pwupic.twitter.com/v0HvdWnu3u
— Betfair (@Betfair) November 9, 2016Share this article
Paddy Power, Ireland's largest bookmaker, has announced it is paying out early on Call of Duty: Modern Warfare 2 being this year's Christmas number one.
Although the bookie saw a late surge of bets for FIFA 10, which resulted in the game's odds plummeting from 10/1 to 9/4 to make it second favourite, it decided MW2 had built up too much of a lead.
'Three out of every four bets placed on the Christmas number one videogame were backing Call of Duty: Modern Warfare 2. With this level of support I don't think we're taking too much of a risk by paying out early,' said Paddy Power.
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The bookie will be paying out over EUR 12,000 to backers of MW2. Odds as high as 2/1 had been offered back in September.
Paddy Power Early Payout Rules 2020
The closing odds were as follows:
- 2/7 Call Of Duty: Modern Warfare 2
- 9/4 FIFA 10
- 6/1 Mario & Sonic At The Olympic Winter Games
- 6/1 Wii Sports Resort
- 10/1 Assassin's Creed II
- 14/1 New Super Mario Bros Wii
- 25/1 Wii Fit Plus
- 33/1 HALO 3: ODST
- 33/1 Need For Speed: Shift
- 33/1 DJ Hero
- 33/1 Football Manager 2010
- 50/1 Uncharted 2: Among Thieves
- 66/1 James Cameron's Avatar: The Game
- 66/1 PES 2010: Pro Evolution Soccer
- 80/1 Planet 51: The Game
- 80/1 Guitar Hero 5