Online Bookie Pays Over A Million On Tiger…Oops

OK, all of you degenerate dedicated online wagerers out there need to help me out on this one. Paddy Power, the largest bookmaker in Ireland, jumped the gun on the PGA Championship and paid out approximately £1.2 million to its online bettors with Tiger Woods holding a four-strike lead, before the third round even began. Um … oops?

The wacky betting house didn’t even ask for the money back when Y.E. Yang ended up winning the event; it just went ahead and paid out additional toppins, or shillings, or whatever it is they use for money over there. So, knowing that the house doesn’t do anything without a mathematical advantage or angle of some sort, what’s going on here? It’s like Santa Anita paying your ticket before the horses finish the race. Or is it?

Read more…