When it comes to the online gambling industry, especially in the UK, Paddy Power is one of the most recognisable names on the scene.
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New customers only, limited to one per person. If you’ve previously had a Paddy Power account, you will not qualify for the offer. Place your FIRST bet on any Sportsbook market and if it loses we will refund your stake in CASH. Max refund for this offer is £20. Only deposits made using Cards or Paypal will qualify for this promotion. T&Cs apply. Paddy's Rewards Club: Get a £10 free bet when you place 5x bets of £10+. T&Cs apply.
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The Irish bookmaker was founded in 1988 when 40 betting shops owned by Stewart Kenny, David Power, and John Corcoran merged together.
All three men had a strong history already when it came to sports betting in Ireland, and the merger marked the beginning of a company that would see huge growth and adapt as well as any other to the online revolution in the gambling world.
An aggressive expansion plan saw Paddy Power open shops in most Irish towns, ensuring that brand identity was as high as possible from the outset.
By the end of 2005, Paddy Power had 195 shops, with 150 of them being in Ireland and the other 45 across the UK. By 2010, after acquiring McGranaghan Racing, an independent Northern Irish bookmaker in 2008, the number had frown to 356, 209 in Ireland, four in Northern Ireland, and 139 in the UK.
Paddy Power are known for offering bets on controversial subjects, arguably to gain publicity. Their odds of 16-1 that Barack Obama would not finish his first presidential term was widely considered to be odds on the likeliness of the US president being assassinated.
Paddy Power merged with Betfair on February 2nd, 2016, creating Paddy Power Betfair. This merger has proved immensely profitable for both companies, despite sporadic sports results through the last year having their effect on profits.
In March 2017, Paddy Power announced that the implementation of the merger was ahead of schedule, and that it was set to benefit from £65 million in annual cost synergies from its first year, with many of its initial savings coming from cuts to 650 jobs following the merger.