This week has seen Irish bookmaker Paddy Power at the centre of attention once again due to a bold decision made by the company: paying out on all bets that have Manchester City down to win the league, mere days before their derby clash with Manchester United and five months before the season finishes.
Paddy Power Pay Out Early On Man City Winning Premier League
Pep Guardiola´s side have been in tremendous form recently, and despite losing on Wednesday in the Champions League, they remain unbeaten in the league and cups.
Taking all of this into account, it’s very clear to see why Paddy Power has taken the decision to pay out early: Manchester City seem unstoppable. However, there’s more than enough games left for City to drop points, and it wouldn’t be the first time these bookies payed out incorrectly.
Last year saw Donald Trump shock the world with his astonishing victory over Hilary Clinton in the 2016 Presidential Elections. Paddy Power- along with most of the world- firmly believed in a Democrat triumph and thus paid out £800,000 to those who backed Clinton after a series of allegations came to light that seemingly damaged Trump’s campaign. The same thing happened in August when Mayweather & McGregor fought. Paddy Power shelled out a quarter of a million pounds on any Mayweather bets, because “…we are paying out early on a Mayweather victory – because we checked, and only one of them is a boxer. We always bet on black.” That decision proved to work for the bookmaker, because despite the Irishman’s efforts in the ring, he was ultimately defeated.
Decisions like these aren’t ever easy to make- at the end of the day paying money to your customers before a certain event even begins sounds ludicrous-, but it seems to go deeper than the money spent on a bet. Oftentimes the bookie that pay out do so a few days before the event, and usually before the weekend starts. One could argue that paying out is nothing more than a marketing ploy designed to boost exposure in order to gain more customers, as well as paying out before weekend games commence, to ensure that people have enough to spend on matches.
Not Yet Joined The Irish Bookmaker?
Paddy Power are currently offering all new customers a completely risk-free bet up-to £20. Just sign up, place a bet between £5 and £20 at odds of 1/2 (1.5) or greater and if it loses then Paddy Power will refund your stake back as cash within 6 hours of your bet losing which you can then withdraw immediately. Your £20 bet can include as few or as many selections as you like and can be at any odds!