It makes zero sense.
i.e. I don’t believe it.
Posted on 11/10/2016 9:45:14 AM PST by PJ-Comix
An Irish bookmaker was left red faced on Wednesday morning after its decision to pay out early to customers who had bet on a Hillary Clinton victory in the U.S. election proved costly.
In October, Paddy Power paid out £800,000 ($992,528) on a Clinton victory after a series of negative news stories threatened to derail Donald Trump's campaign.
"We're in the business of making predictions and decided to put our neck on the line by paying out early on Hillary Clinton, but boy did we get it wrong," Paddy Power spokesperson Lewis Davey said in a statement Wednesday.
(Excerpt) Read more at cnbc.com ...
Biggest SCHMO on the planet!!!
I wish they lost $10 million.
This is like a race track paying out before a race. It’s beyond stupid. What if Hillary had a heart attack? What if she had been indicted.
It makes zero sense.
i.e. I don’t believe it.
LOL, hope they go broke.
What an idiot!................a poor idiot, now................
He paid out early thinking his payout would be larger after hillary won.
This is awesome! At best they were stupid, at worst they were trying to influence the election.
It makes zero sense.
i.e. I don’t believe it.
His problem was that he was believing what the liberal media was telling him. Expensive lesson on his part.
OK, that makes sense.
Maybe Trump’s win cost that “bookie” a bit more than me. I promised to buy my brother-in-law and his wife a free steak dinner if Trump won (I REALLY DID VOTE FOR TRUMP) but the dinner is a “celebration”, not to mention he and I are both veterans and plan to celebrate that day as well.
If Paddy Power had tried to buy advertising that got them as much favorable publicity as this early payout “cost” them, it would have been 10x as costly.
They did not get snookered at all, despite their crocodile tears. They got a huge bargain.
Donald should send them a bill.
They probably got a lot of that back from the same bettors on unrelated bets that they made on their accounts, or double-down bets on Hillary at a later time with higher payouts as her chances went down.
In fact, this might have been their strategy all along.
I bet on the election via PredictIt. I bet on Trump to win and Soupy Sales to lose WI senate race and won both. I wish I would have bet Bayh-bye in IN senate race.
“He paid out early thinking his payout would be larger after hillary won.”
What happened is that Paddy Power strayed from it’s conventional role as a bookmaker and decided to take an independent position on the election, betting against a Trump victory. In the classic bookmaker role, Paddy Power wouldn’t care who won the election but instead would simply adjust the odds it offered dynamically during the run-up to election day to equalize the flow of bets on each side.
It makes zero sense.
I read on another thread that it was a publicity stunt that earned them more in free advertising and additional business than it cost in pay-outs.
Correct.
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