Posts Tagged paddy power
Ryder Cup winner already settled
Posted by Peter Webb in Bet Angel on September 30th, 2010
Another great publicity stunt by Paddy Power who have already settled Europe as the 2010 Ryder Cup winners.
http://blog.paddypower.com/blog/index.php/2010/09/27/europe-win-the-ryder-cup-we-reckon/
They would have already known their liability so it’s effectively booked as a marketing expense. Of course they will get loads of publicity on it, such as people like me posting it on their blog! This is also something that Betfair would find difficult to do. Very imaginative folks over at PP.
Paddy Powers on
Posted by Peter Webb in Bet Angel on August 25th, 2010
It’s easy to forget in this modern age of betting exchanges that traditional bookmakers are still around and still going strong. Paddy Power just released results which showed that gross win was up 117% to €112m and operating profit up 66% to €36.1m. Online betting accounts for 73% of the group’s operating profit.
Paddy Power said profit before tax for the six months to June 30 grew 54% to €52.5m. In 2009 Betfair earned £42m for the whole year.
Paddy Power said an “exceptional” World Cup tournament generated total gross win of €18m (€12m in the period), a more than four-fold increase compared to Euro 2008 and the World Cup 2006.