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Gambling: Paddy Power Updates

11/16/09 - Ireland's Sunday Independent newspaper lauded betting group Paddy Power's deal with the former French gambling monopoly Pari Mutuel Urbain this week as a move that will further reduce the quoted bookmaker's dependence on its Irish and UK retail betting shops. 

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The newspaper notes that half of Paddy Power's turnover and almost two-thirds of its profits now come from online gambling, and that the new deal is the latest indication that Paddy Power's move online is gathering pace.
 
In May, the online and land betting group expanded in Australia, paying Euro 32.8 million for 51 percent of Aussie online bookmaker Sportsbet. The following month, Sportsbet paid about Euro 17.8 million for 80 percent of another Aussie online bookie, IAS, to bring Paddy Power's total Australian investment up to Euro 41.9 million.
 
Analysing the business reasons for Paddy Power's increasing inclination to online betting, the newspaper reports that the group's first half results this (2009) year showed that, while Paddy Power paid out just 88 cents of every Euro wagered in its [land] shops, it paid out almost 94 cents of every Euro gambled online. Internet operations generated almost two-thirds of first-half operating profits - far more profitable than the group's traditional land betting outlets.
 
"With bookmakers coming under increasing pressure from online betting exchanges, where the only cost to customers is an average three percent deduction from winnings, the price advantage enjoyed over retail outlets will almost certainly be decisive." the Sunday Independent notes for the future.



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MPN Poker Tour Bratislava Results - Alex Hendriks Wins Inaugural MPN Poker Tour Bratislava Main Event and €27,000

MPN Poker Tour Bratislava | Day 2 - It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.

MPN Poker Tour Bratislava Day 1B - Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today

MPN Poker Tour Bratislava Day 1A - The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.

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