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Irish Betting Site Calls Race Early — Pays Out Obama Victory Bets Two Days Early

 
Anonymous Coward
User ID: 3923164
Canada
11/04/2012 09:01 PM
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Irish Betting Site Calls Race Early — Pays Out Obama Victory Bets Two Days Early
Bookies paying out obama bettors because they believe it's a shoe in that Obma is gonna be anounced the winner



[link to www.businessinsider.com]



Famous Irish betting side Paddy Power has announced that it will pay out those who wagered on Obama two days early.

Apparently it's kind of a publicity stunt for them. They get some free media (like this post!) and the risks aren't that huge if they also have to end up paying Romney bettors. Here's a story on how they lost money on a similar stunt with Tiger Woods.

Here's the press release we got:

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PADDY POWER PAYS OUT ON OBAMA VICTORY

Dublin, November 4th 2012: With still more than two days to go before America votes, Paddy Power, Europe's largest betting company, is paying out to punters who backed President Obama to win the US election.

Despite the national polls showing voters remain largely undecided with nothing more than a sheet of ballot paper between the two candidates, Paddy Power believes it’s a done deal and that Obama is a nailed on certainty to win a second term.

The gutsy call sees the bookmaker put their neck on the line for over $650,000. Prior to paying out, Obama’s odds fell to a low 2/9 and over the past months Paddy Power have seen 75% of money staked go Obama’s way.

A Paddy Power spokesperson said: “Romney gave it a good shot and is doing well in the popular vote, but we suspect he’s had his moment in the sun and is likely to be remembered more for his legendary gaffes than Presidential potential. The overall betting trend has shown one way traffic for Obama and punters seemed to have called it 100% correct. Despite Romney appealing to the large evangelical and senior vote, America‘s sticking with black and cool.”

Paddy Power continues to offer betting right up to and including Election Day. One of the most popular bets currently on offer is predicting the winning margin of the successful nominee on November 6th.

To see Paddy Power’s full range of betting on the American Presidential election click here.

Ends

All prices remain subject to fluctuation.

Paddy Power is Ireland’s largest bookmaker and a leading provider of gaming services in the UK, Australia and Ireland. Founded in 1988 Paddy Power is a publicly quoted company and is listed on both the Irish and London Stock Exchanges (www.paddypowerplc.com)


Read more: [link to www.businessinsider.com]
Anonymous Coward
User ID: 11902621
United States
11/04/2012 09:05 PM
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Re: Irish Betting Site Calls Race Early — Pays Out Obama Victory Bets Two Days Early
well the bookies would know the outcome bfore it happens just like in pro and college sports. All rigged. But damn they arent even hiding this shit anymore. Paying out 2 days early? WTF
Anonymous Coward
User ID: 19517346
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11/04/2012 09:08 PM
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Re: Irish Betting Site Calls Race Early — Pays Out Obama Victory Bets Two Days Early
Paddy is one of the most respected online gambling sites there is in the world. They're calling it for Obama then it's over before even a single vote is counted on Nov 6th. :(
Anonymous Coward (OP)
User ID: 3923164
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11/04/2012 09:10 PM
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Re: Irish Betting Site Calls Race Early — Pays Out Obama Victory Bets Two Days Early
Just as a side note. these guys actually did it in 2008 too when they paid out obama bets early as well.
Anonymous Coward (OP)
User ID: 3923164
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11/04/2012 09:11 PM
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Re: Irish Betting Site Calls Race Early — Pays Out Obama Victory Bets Two Days Early
Just as a side note. these guys actually did it in 2008 too when they paid out obama bets early as well.
 Quoting: Anonymous Coward 3923164


[link to www.npr.org]
Soba Master™
Offensive Poster Strudel

User ID: 26895599
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11/04/2012 09:11 PM

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Re: Irish Betting Site Calls Race Early — Pays Out Obama Victory Bets Two Days Early
It's a shillathon here.

Ireland just increased their oxymoran VAT (value added tax) from 21 to 24% (maybe higher)

Yay! Over a 50% tax bracket + VAT for all sheeple!
Religion is no excuse for bigotry.
Anonymous Coward (OP)
User ID: 3923164
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11/04/2012 09:17 PM
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Re: Irish Betting Site Calls Race Early — Pays Out Obama Victory Bets Two Days Early
It's a shillathon here.

Ireland just increased their oxymoran VAT (value added tax) from 21 to 24% (maybe higher)

Yay! Over a 50% tax bracket + VAT for all sheeple!
 Quoting: Soba Master™


Enjoy 4 more years of Obama

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