Paddy Power blushing on early payout on Greek vote
News on 6 Jul 2015
News on 6 Jul 2015
Paddy Power was left red-faced, but well publicised, following an early payout on Wednesday July 1, 2015 when it overconfidently and incorrectly predicted the outcome of a Greek vote on proposed austerity measures.
A convincing 61 percent of the Greek vote went to rejecting the proposal, costing Paddy Power “thousands of Euros” it says was in the “five figures”.
“Paddy Power is feeling a little red faced this morning after calling the Greek referendum wildly wrong … [We] got a little overexcited,” the bookmaker wrote in an email to Bloomberg.
Paddy Power will be hoping to recoup some of its losses as it launched a new betting market offering bettors 5/4 odds that Greece will leave the Eurozone and adopt another currency, Bloomberg reported.
