Premature Paddy Power
20th April, 2009
Paddy Power found itself with egg on its face yesterday, after paying out early to punters who placed bets on United winning the domestic treble.
Back in February, the Irish bookmaker opted to payout early on Premier League Champions Manchester United winning the FA Cup, Carling Cup and Premier League. However two months on, the chances of this happening are now impossible, after United were knocked out by Everton in the FA Cup semi finals.
The league champions had been praised by other managers for their 14 games clean sheet, and were believed to be ‘untouchable’.
Head of communications for Paddy Power, said in February: “We know and punters know the race for trophies is all but over for another year so why wait for the formalities?”
Although approaching the end of the season, a run of bad form and missed opportunities culminated in Alex Fergusons’s team being beaten on penalties by Everton at Wembley yesterday.
Paddy Power reportedly paid out approximately £1million in bets, and also paid out on domestic double bets that included the FA Cup.
This is not the first time Paddy Power have paid out early. The 05/06 Premier league season saw Paddy Power pay out early on Chelsea after just 7 games, although they were not so lucky in 02/03 when they paid out early on Arsenal, only to see Manchester United pip them to the title.
By Rommon
