Paddy Power takes on France
13th November, 2009
Irish bookmakers Paddy Power has decided to take on France and has started by committing themselves to a 5 year deal with one of the biggest French operators Pari Mutuel Urbain (PMU). The PMU is a controlled betting system which is one of the largest in Europe and was originated from the idea of organising horse racing.
The PMU is quite complicated as it offers an extensive range of bets on horse races and enables punters to win their money back in various ways with the winnings dependent on which forecasts you have chosen in comparison to the results of the race. The PMU allows punters to bet in around 9400 outlets with a recorded turnover of approximately €9.3bn in 2008.
The B2B partnership will allow Paddy Power to supply the PMU with their own odds as well as advertise with them across some of the biggest events within the French betting market. This new adventure is predicted to enhance Paddy Power’s profit by approximately €5 million before 2012.
EGR magazine report that this is not the first they have heard of this. In an exclusive interview a couple of months ago, the PMU revealed that they would be interested in looking into investing in fixed odds and now they return to EGR magazine with the news of this contract with Paddy Power.
A spokesman from Paddy Power explained, “This deal with PMU is the ideal start for our business-to-business operation. We continue to look for other quality opportunities in international markets, capitalising on our investment in people, expertise and particularly in our proprietary pricing and risk management technology.”
A spokesman from PMU explained their aims and expectations of what they wish to gain out of the partnership revealing, “"This partnership is going to enable PMU to offer sporting bets online under its own brand and retain direct management of its client database. Paddy Power will provide us with its expertise in sports betting. Through this partnership PMU is given the means to be ready for the opening of the online betting market in France next year."
The French market is renowned for being an option that offers operators a money making investment and it has always been on Paddy Power’s agenda to expand and outsource, so it seems that the contract could not have come at a better time. It seems that this is a great chance for Paddy Power to enhance their business-to-business sector across Europe, so if this goes well they may begin to enter many more markets in the near future!
To read the full story then visit eGaming Review, alternatively why not check out Paddy Power’s website for all the latest betting opportunities and get yourself a FREE £20 bet while you’re there!
By Gina
