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Paddy Power pays out 400,000 on Obama victory in U.S. Presidential election
http://blog.paddypower.com/2012/11/04/paddy-power-pays-out-400000-on-obama-victory-in-u-s-presidential-election/ ^

Posted on 11/04/2012 9:34:32 AM PST by Jimmah

Paddy Power pays out £400,000 on Obama victory in U.S. Presidential election

Paddy Power is paying out to punters who backed Barack Obama to win the US Presidential election 2012.

There’s still two days to go before America votes and national polls show voters remain largely undecided with nothing more than a sheet of ballot paper between Democrat Obama and Republican rival Mitt Romney.

But Paddy Power believes it’s a done deal and Obama is a nailed-on certainty to win a second term.


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KEYWORDS: bloggersandpersonal; notbreakingnews; sourcetitlenoturl
Lovely
1 posted on 11/04/2012 9:34:38 AM PST by Jimmah
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To: Jimmah

who is paddy power and hope he is wrong


2 posted on 11/04/2012 9:37:20 AM PST by GoCards (I am a Hobbit)
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To: Jimmah
Hopefully he also has to pay the Romney bettors on Wednesday.
3 posted on 11/04/2012 9:38:27 AM PST by KarlInOhio (Big Bird is a brood parasite: laid in our nest 43 years ago and we are still feeding him.)
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To: Jimmah

WTH is paddy power and why the h3ll should I care???


4 posted on 11/04/2012 9:39:09 AM PST by MestaMachine (obama kills and none dare call it treason)
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To: Jimmah
Intrade and Paddy Power are true believers in an Obama landslide!


"Dear friends, Intrade and Paddy Power prove the predictive strength of the markets. We know elections are decided the old-fashioned way: we pay out good money for it!"

5 posted on 11/04/2012 9:39:09 AM PST by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: Jimmah
There’s still two days to go before America votes and national polls show voters remain largely undecided with nothing more than a sheet of ballot paper between Democrat Obama and Republican rival Mitt Romney.

But Paddy Power believes it’s a done deal and Obama is a nailed-on certainty to win a second term.


This seems pretty typical of Europe right now. If your news about the US comes mainly from the BBC and your polls from Reuters/Ipsos, you'd think it was a done deal too.
6 posted on 11/04/2012 9:39:51 AM PST by verum ago (Some people must truly be in love, for only love can be so blind.)
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To: Jimmah

obviously spent to much time at the bar.....Tuesday (wednesday Irish time) this yob will be more than embarrassed....he will be doubly out of money


7 posted on 11/04/2012 9:42:11 AM PST by Nifster
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To: Jimmah

C’mon people, who the hell would believe a bookie would pay of on a bet before the event happens?

Care to explain what happens after Romney wins? Do you think these people will simply all hand him back the cash?

Some foks here have totally taken leave of the last dregs of whatever common sense they had.


8 posted on 11/04/2012 9:45:32 AM PST by Lacey2
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To: Jimmah
national polls show voters remain largely undecided

There are very few undecided voters left, dumbo writer.

Perhaps you mean "largely evenly divided".

9 posted on 11/04/2012 9:45:35 AM PST by Izzy Dunne (Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
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To: Jimmah
Europeans overwhelming favor Osama Obama.Assuming “paddy power” is a European person or entity it's not difficult to understand his/her/its confidence.
10 posted on 11/04/2012 9:46:21 AM PST by Gay State Conservative (Ambassador Stevens Is Dead And The Chevy Volt Is Alive)
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To: GoCards

Largest bookmaker in Ireland, supposedly. On a bright note, he lost twice as much paying out on Tiger Woods once.


11 posted on 11/04/2012 9:46:23 AM PST by Jimmah
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To: Jimmah

C’mon people, who the hell would believe a bookie would pay of on a bet before the event happens?

Care to explain what happens after Romney wins? Do you think these people will simply all hand him back the cash?

Some foks here have totally taken leave of the last dregs of whatever common sense they had.


12 posted on 11/04/2012 9:47:09 AM PST by Lacey2
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To: Jimmah

Between now and the when the first actual returns comes in I’m ignoring all election news as disinformation peddling FUD, fear incertainty, and doubt.


13 posted on 11/04/2012 9:50:13 AM PST by AU72
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To: verum ago

“If your news about the US comes mainly from the BBC and your polls from Reuters/Ipsos, you’d think it was a done deal too.”

Same thing in Kanada, where anti-Americanismn runs rampant. Most idiot canadians get their news from the most anti-US network on earth called the CBC, then you have problems. When I head there every Christmas to visit my brother, they really are in a bubble world.


14 posted on 11/04/2012 9:52:05 AM PST by max americana (Make the world a better place by punching a liberal in the face)
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To: Jimmah

I remember that Houston used to have “Owner Has Brain Damage” brand used cars.

The assumption was that you could take advantage of the intellectually diminished.

Just like ‘loose slots’ in Vegas or Owner Has Brain Damage in Houston, Ireland has a bookie, Paddy Power that might payoff even on a bet that you lost.

This sort of thing appeals to gamblers of a particular sort. It is positive advertising, of a kind.

And given the Obama wash of Euro-media, he probably thinks he has better chances of not paying off Romney punters than he really does.


15 posted on 11/04/2012 9:57:08 AM PST by Wonka
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To: Jimmah

"Uh, yeah, Paddy? What's the payout for a Romney win?"


16 posted on 11/04/2012 9:57:19 AM PST by COBOL2Java (I'm not voting for Obama, so therefore I must be helping Romney!)
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To: Jimmah

Aren’t they going to be surprised...and broke.....


17 posted on 11/04/2012 9:59:01 AM PST by Shady (Hey, King Bozo Osmocote....you can't hide the truth anymore..,)
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To: Wonka

Thats what I’m thinking. Hes hedging some free advertising on a bet he thinks will win.


18 posted on 11/04/2012 10:01:18 AM PST by Jimmah
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To: Jimmah

They’re Irish, I’m guessing they’re piss drunk.


19 posted on 11/04/2012 10:01:47 AM PST by EEGator
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To: COBOL2Java

snicker


20 posted on 11/04/2012 10:02:31 AM PST by 2111USMC (aim small, miss small)
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To: 2111USMC

I think Paddy’s been hitting the POWER’S IRISH a wee bit.


21 posted on 11/04/2012 10:07:31 AM PST by cumbo78
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To: Jimmah

How much money would it take to skew these betting places?


22 posted on 11/04/2012 10:07:49 AM PST by Raycpa
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To: 2111USMC

I think Paddy’s been hitting the POWER’S IRISH a wee bit.


23 posted on 11/04/2012 10:08:26 AM PST by cumbo78
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To: Jimmah
Paddy Power is paying out to punters who backed Barack Obama to win the US Presidential election 2012.

???

What about runningbacks, quarterbacks, of defensive backs or ......?

24 posted on 11/04/2012 10:08:59 AM PST by TruthWillWin (The problem with socialism is that you eventually run out of other peoples money.)
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To: Jimmah

Publicity stunt.

Read Wikipedia entry on them. They have a history of pulling outlandish gimmicks to attract attention.


25 posted on 11/04/2012 10:12:05 AM PST by nkronos
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To: Jimmah

This makes no sense. Even if he thinks he’s doomed, why would he pay off now instead of waiting a few days? Also, if he’s sure Obama will win, he could buy Obama contracts on Intrade and cover (or at least reduce) his losses on the current bets.


26 posted on 11/04/2012 10:13:19 AM PST by Eagle Forgotten
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To: nkronos

While I was typing a question, you posted the answer. Seeing this announcement purely as a publicity stunt, rather than something serious, it makes more sense.


27 posted on 11/04/2012 10:15:59 AM PST by Eagle Forgotten
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To: Eagle Forgotten

This is really nothing more than a large bet on Obama.

If Obama wins, Paddy is out nothing. If Romney wins, they lost their bet—but by announcing it in this fashion, they at least get some free publicity from the loss: “We’re a great bookie; we even pay off early!”

Moreover, if this publicity drives up the odds against Romney, they cover their bet by buying Romney for a reduced price.

It’s a gambler’s hustle, not a political prediction.


28 posted on 11/04/2012 10:20:13 AM PST by nkronos
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To: Lacey2; Jimmah
Your post #8

C'mon people, who the hell would believe a bookie would pay of on a bet before the event happens?

Even the old Ronald Reagan adage would not apply here. This was "trust, but verify". I would not give much for this statement and indeed how can one verify it? I did look up the general London bookies odds.

15/8 Mitt Romney. 2/5 Barack Obama.

Roughly speaking just under double one's stake if Mitt wins and a bit more than half one's stake if Barack wins. These seem like sensible odds. Not like some of the silly publicized bets on the impossible, which the bookies could hardly pay anyway.

Always get a laugh out of the great steeple chase classic in shabby post war England. It was the Grand National. The Communist newspaper (banned briefly in WW2) went the party line and tipped "Russian Hero". Absolutely ridiculous of course- what do they know?

Russian Hero won at 66-1.

A bit of topic, but surely all of us need a good laugh!.

29 posted on 11/04/2012 10:23:54 AM PST by Peter Libra
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To: Jimmah
This sounds like a publicity stunt, nothing more. I looked up some info on this outfit and they have a reputation for zany stunts and advertising gimmicks. One time, they placed transvestites in the audience at a sporting event and launched an advertising campaign about it - it was called "Spot the Stallions from the Mares" - and it riled up all the politically correct people.

They also have a history of paying out early on other events as well. I think that's part of their wild and crazy image. They might be paying out 400,000 pounds for no reason at all but the publicity they will get from this stunt is probably worth millions of pounds in advertising.

30 posted on 11/04/2012 10:27:31 AM PST by SamAdams76
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To: Lacey2
"C’mon people, who the hell would believe a bookie would pay of on a bet before the event happens?

Care to explain what happens after Romney wins? Do you think these people will simply all hand him back the cash?

Some foks here have totally taken leave of the last dregs of whatever common sense they had."

Damn, noob, bet much?

Paddy pre-paying out on Tiger is a true story. You could have googled it but I like a noob who headers into an empty pool.

Paddy does this all the time for the pr. 400,000 is a nothingburger to them; they'll be all the talk -- at least in the chattering classes UK on Monday; and it also creates churn, as many of these chumps are likely to attempt a double-down on Bobo.

31 posted on 11/04/2012 10:32:36 AM PST by StAnDeliver (2008 + IN, NE1, NC, FL, VA, OH, CO, IA, NH = 285EV)
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To: Peter Libra
Oh boy, got my odds wrong wins. Just under half one's stake if Barack wins.

I would never have made a bookie by profession!

32 posted on 11/04/2012 10:33:06 AM PST by Peter Libra
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To: Jimmah

Ol’Paddy ain’t that dumb. He’s probably just trying to balance his “books”. Putting out a phony story in one direction gets the crowd to bunch up in the other direction. He doesn’t bet against the crowd. He gets the crowd to bet against each other and makes his money on the pay-out. Sounds from this like he’s a bit heavy on Romney-wins bets and needs a few Obama fishes to take the other side. I don’t know the Irish rules but I imagine they take bets until Monday night.


33 posted on 11/04/2012 10:38:28 AM PST by cherokee1 (skip the names---just kick the buttz)
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To: SamAdams76

The rubes get they’re payout on Obama then being the degenerate gamblers they are turnaround and bet their winnings on Obama at a higher price.

Classic pump and dump just like the stock market

I didn’t see anywhere where Paddy’s isn’t taking anymore bets on Obama.


34 posted on 11/04/2012 10:43:11 AM PST by tshaun
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To: Jimmah
Paddy Power?

Sounds like part of an Irish joke.

The punchline probably refers to a dozen Irishmen, whiskey, and a potato.

35 posted on 11/04/2012 10:43:14 AM PST by x
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To: StAnDeliver

No I don’t but what does my time here have to do with my credibility or anuyone elses credibility?

Can you even give a sensible answer to the question? Tell us ALL the correlation between the two? Who says the story is true to begin with? You saw it here so it must be true...tright?

Or maybe folks with a lot of time on the forum are just buttheads.


36 posted on 11/04/2012 10:54:10 AM PST by Lacey2
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To: nkronos

Somebody needs to tell Daniel Negreanu.
He’s got hundreds of thousands riding on Obama winning.
LOL!


37 posted on 11/04/2012 11:31:53 AM PST by fanfan ("But if Muslims were asked to go to church on Sunday and take Holy Communion there would be war.")
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To: COBOL2Java

That’s absolutely hilarious.


38 posted on 11/04/2012 11:36:44 AM PST by spetznaz (Nuclear-tipped Ballistic Missiles: The Ultimate Phallic Symbol)
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To: Jimmah

I thought Paddy Power was the motto of the Green Panthers.


39 posted on 11/04/2012 11:46:09 AM PST by Argus
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To: Jimmah

so if Romney wins then PP has to eat the 400K they have already paid out ?

LOL! i think these guys may become famous after the election, but not in the way they would want.

PP have a 100:1 bet on a Romney landslide, i would put a couple of hundred on that if they took bets from Canada. (landslide = romney wins by more than 10%)

i don’t think it’s the most likely outcome but it’s better than 100:1.

even nate silver admits there have been two elections in the past 30 years where the pools were 5% or more optimistic on democrats, in both cases they were democratic incumbents running for re-election.


40 posted on 11/04/2012 11:48:19 AM PST by Reverend Wright (Obama explains the ALCS: the Yankees actually played great but lost due to mistakes by Joe Torre)
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To: Lacey2
C’mon people, who the hell would believe a bookie would pay of on a bet before the event happens?

In England, it actually happens with some frequency. Just another reason we should be glad we aren't them.

41 posted on 11/04/2012 11:53:41 AM PST by Colonel_Flagg ("Don't be afraid to see what you see." -- Ronald Reagan)
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Eurotrash wishful thinking. Went on website and tried to bet on Mitt, but he doesn't accept bets from USA. Probably a publicity stunt.
42 posted on 11/04/2012 12:26:52 PM PST by Godwin1
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To: tshaun

I didn’t even think of that angle. That suckers would take their early payout and re-bet it (double or nothing!) right back on Obama only to lose it all on Tuesday night.


43 posted on 11/04/2012 12:29:01 PM PST by SamAdams76
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