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Message
Irish Sports Book Refunds All Pacquiao Bettors
Posted on 6/10/12 at 6:18 pm
Posted on 6/10/12 at 6:18 pm
LINK /
quote:
Calling it a “result that stunned the world,” Paddy Power—the largest bookmaker in Ireland—refunded all bets placed on Manny Pacquiao to beat Timothy Bradley after Saturday night’s controversial (and possibly corrupt) fight that had fellow bookmakers going on Twitter rants.
3
Posted on 6/10/12 at 6:21 pm to TigerTatorTots
I'm sure that the Vegas casinos will follow that lead. 
Posted on 6/10/12 at 6:23 pm to TigerTatorTots
So how do they operate...vig and goodwill?
Did they refuse to pay out on Bradley?
You need to honor bets (good or bad) regardless of refs/umps/officials or judges.
Did they refuse to pay out on Bradley?
You need to honor bets (good or bad) regardless of refs/umps/officials or judges.
Posted on 6/10/12 at 7:41 pm to Zamoro10
Agree. As much as I like it in theory, you embark on a HUGE slippery slope when you start doing that.
Posted on 6/10/12 at 7:47 pm to Buckeye Fan 19
Maybe, but they could still a few bettors from other bookies with this publicity stunt.
Posted on 6/10/12 at 8:18 pm to Zamoro10
quote:
So how do they operate...vig and goodwill?
Paddy Power is a really well-run business; when I lived in the Republic, I'd do my gambling with their establishments.
Domestically, they do limited advertising and do pretty well-- but the genius of the operation is how they handle international betting. You see, they don't spend a cent outside of the island on advertising-- but they do things like this, that generate free media publicity and act as effective advertising-- so they save what would be a big outlay by being outlandish. Keep in mind that the losses they're incurring on this are going to be offset by the ongoing Euro soccer competition, and they're going to come out well ahead for their troubles.
Posted on 6/10/12 at 8:44 pm to Buckeye Fan 19
quote:
Agree. As much as I like it in theory, you embark on a HUGE slippery slope when you start doing that.
No smart move, they paid their bets and the refunded money on a bullshite decision. They did the math, whatever the lost, they made up for in advertising. If a LSU messageboard in discussing this on a Sunday nite, it will hit Yahoo, CNN, SI or some other website within the next few days. Free pup and goodwill and gave Vegas the finger.
Posted on 6/10/12 at 9:37 pm to TigerintheNO
quote:
No smart move, they paid their bets and the refunded money on a bullshite decision. They did the math, whatever the lost, they made up for in advertising. If a LSU messageboard in discussing this on a Sunday nite, it will hit Yahoo, CNN, SI or some other website within the next few days. Free pup and goodwill and gave Vegas the finger.
exactly, its always funny when people dont have the business sense to realize why a move like this works
Posted on 6/10/12 at 9:52 pm to TigerTatorTots
Good PR with little downside.
Posted on 6/10/12 at 10:48 pm to Buckeye Fan 19
quote:
Agree. As much as I like it in theory, you embark on a HUGE slippery slope when you start doing that.
Unless it's a preemptive strike and they know something that will be coming out soon.
Posted on 6/11/12 at 12:11 am to Zamoro10
quote:
Did they refuse to pay out on Bradley?
They will pay out the wins as well. Most of the money will go straight back on sports betting, plus the publicity, they're not really losing much here. I expect all the major bookmakers in the UK will follow suit now.
This post was edited on 6/11/12 at 12:12 am
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