Paddy Power
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- For the former Irish politician of the same name, see: Paddy Power (politician).
| Paddy Power plc | |
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| Type | Public |
| Founded | 1988 |
| Headquarters |  Dublin, Ireland |
| Industry | Bookmaking |
| Revenue | ▲€218.7 million (2007) |
| Operating income | ▲€49.7 million (2007) |
| Net income | ▲€41.2 million (2007) |
| Website | paddypower.com paddypowerplc.com (Corporate) |
Paddy Power is Ireland’s largest bookmaker. Offline it conducts business through a chain of licensed betting offices and by operating Ireland's largest telephone betting service. Online it offers sports betting, online poker, online bingo and online casino games.
Paddy Power was founded in 1988 by the merger of three existing Irish high street bookmakers. The company also markets its services in the UK and is a publicly quoted company, listed on the Irish and UK stock exchanges.
Paddy Power's stated mission is to make ‘risk-based’ entertainment more accessible and fun. To this end, Paddy Power has a reputation for funny and often controversial advertising.
At the end of 2005 Paddy Power operated 195 outlets (150 in Ireland and 45 in the UK). The total number of employees was 1,374. On 27th May 2008, Paddy Power acquired Northern Ireland independent bookmaker McGranaghan Racing bringing Paddy Power's shop count to 191 in Ireland.
Paddy Power are sponsors of NUFC.com and Old Rutlishians XVA and XVB rugby teams.
They are the proud sponsors of St. Patrick's Athletic.
They are the official betting partner of Chelsea F.C..
Tongan rugby player Epi Taione, playing at the 2007 Rugby World Cup, changed his name by deed poll to Paddy Power for the duration of the tournament in response to the bookmaker's sponsorship of the Tongan team.
In January 2008, it lost US$75,000 in betting on the US Presidential Elections, when Obama won the Iowa caucus and was projected to win the New Hampshire primary.[1]
Paddy Power also sponsor Century FM radio network.
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[edit] Paddy Power Poker
Paddypowerpoker.com was launched in February 2005. The site allows players to play a number of variations of the game including Texas hold'em, Omaha High and Hi-Lo, 5 and 7 Card Stud in a ring game or tournament structure.
The company also sponsors the world's second longest running No Limit Texas hold'em tournament, the Irish Poker Open. The 2007 event was the second largest poker tournament ever held in Europe with 708 players. Paddypowerpoker.com guaranteed a €3 Million prizepool for the 2008 Irish Poker Open, which was won by English poker pro Neil Channing.
In March 2007 Paddy Power Poker became part of the Ipoker network.
[edit] Novelty Betting
Paddy Power are renowned for their quirky novelty bets. In 2002 and again in 2005 Paddy Power hit the headlines for offering betting on who would replace Pope John Paul II.
They are considered the market leaders in "Specials betting" and are normally first out of the traps with reality TV markets like Big Brother, The X Factor and I'm a Celebrity... Get Me Out of Here!.
[edit] Animal controversy
The Paddy Power company has been criticised by animal rights and animal welfare organizations for allowing bets on Spanish bullfights. On their Spanish website, the company invites bets on the number of bulls’ ears taken during specific bullfights.[2]
[edit] See also
[edit] Notes
[edit] External links
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