Irish Bookmaker Left Red Faced After Major £1.25M Mistake
Bungling bookie Paddy Power was left reeling on Sunday night after their £1.25m early payout on Tiger Woods to win the USPGA spectacularly backfired when the world number one was unable to see off the challenge of Korean player Y.E. Yang at Hazeltine National Golf Club.
Paddy Power, famous for their early payouts, took the unprecedented step of paying out over £1.25m to backers of Tiger Woods before the world number one teed off for round three of the USPGA on Saturday afternoon.
At that time of Tiger was four shots clear at the top of the leader board and was the bookies red-hot 1/5 favourite to win the final Major of the year. Unfortunately for the bookmaker, Tiger failed to produce his trademark magic in the final two rounds resulting in the bookies record breaking seven-figure cock-up, the biggest ever mistake of its kind.
A spokesperson for the bookie commented: “It takes a special kind of dimwit to turn what should have been our best ever golf result into our worst. Paddy Power punters are obviously the big winners here and have made like bandits getting paid out on Tiger as a winner. Our only saving grace is that Harrington didn’t do the business, thank God!”
Y.E. Yang was available at odds of 150/1 with the Irish bookmaker at the start of the tournament and at 16/1 before the final round.
This entry was posted on Sunday, August 16th, 2009 at 5:16 pm and is filed under Casino News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
