Paddy Power, a Irish bookmaker has lost a very expensive bet. The company, which bet on Hillary because her odds of winning were better, had to pay out €4million to Trump backers yesterday, having already paid out €900,000 on Clinton a few weeks earlier.
Their spokesperson, Paddy Power told DIVERGE their story.
Where did the concept of this ad/bet come from?
Donald Trump – we’d like to thank him for making our lives so easy with this advert. Honestly, the amount of rubbish that he’s come out with, we could’ve entrusted a work experience kid to pick the best line to run with – or even a Mexican! Joking aside, Trump’s campaign has been blighted by a succession of cringe-worthy outbursts that really should be banished to the Sixties – from the regular attacks on Mexican people to his creepy and patronising treatment of women, he has made himself an easy target.
Not that we’re pro Hillary – we’re apolitical – but with Clinton streaking ahead in the polls and the betting market – so much so that we’ve paid out over $1million on Clinton winning.
It’s interesting to see a brand/company outside the US focus on something regarding the election in America, why was this important?
Paddy Power has a rich heritage in politics, particularly in the US, where we made headlines for paying out on an Obama victory when the general consensus was that it was 50-50. Plus we like to be reactive and relevant to the news agenda – and little fills column inches like Donald Trump.
Most of all, the betting pattern of our customers has reflected a wider interest in the Presidential Election across the UK. Interest in the UK is massive thanks to Trump’s almost celebrity-like character and captivating live debates.
What feedback have you received on the advertisement?
The reaction to advert has been overwhelmingly positive – and has succeeded in entertaining our punters. Some people find it very funny, others have described as ‘brave’ for paying out so much money so early. We’re in the business of making predictions and there’s enough evidence for us to be confident in paying out with three weeks to go.
The truth is, we could get it wrong – it wouldn’t be the first time. Famously, we paid out on Tiger Woods winning the 2009 PGAs, only for the unheralded Y.E. Yang to come from nowhere and cost us more than $600,000. If Trump performs similar miracles, it’d prompt the biggest political pay-out in history – and leave us with some very expensive egg on our faces.
For those who may not understand what the ad is trying to say, can you explain?
Basically, we’re saying that Trump’s been trumped – in a mischievous way, by turning his own words against him. 3 weeks ago, we thought Donald’s chances of winning were patchier than his tan. We’re certainly no pussies, so have grabbed the chance to pay out early on a Hillary win.
What happened after Trump won?
That very expensive egg we mentioned? We’re wearing it! We paid out around €4million to Trump backers yesterday, having already paid out €900,000 on Clinton a few weeks earlier. Oops! But we weren’t the only ones to get it wrong. And, while most aren’t happy with the election result, at least all of our customers are happy.
