Punters by Aaron Rogan: how Paddy Power hit the global jackpot
Paddy Power is trying to lure a problem gambler back to fixed-odds betting terminals in PaddyPower shops. The company's parent company rebranded as Flutter Entertainment in 2016 following a merger with Betfair. Fluttering Entertainment is valued at €30bn and the world's biggest gambling company. It has positioned itself as a “behemoth” eyeing up the lucrative US market. It's marketing favoured cheeky-chappie slogans such as ‘you do the betting, we do fretting’ and ”You do the bet, and we fret“.
Aaron Rogan's study of Paddy Power explains how the bookmaker achieved its dominant position. He asks if its success carries a punitive price tag for society at large.
In-play betting is addictive by design and can contribute to problem gambling. Paddy Power had a good lockdown even when sporting events and race meetings were cancelled. Online gamblers comprise 0.8% of the British population but supply 25% gambling industry's profits. The Centre for Social Justice found that online gambers comprise only 0,8%. It has been estimated that problem betting has a severe impact on 50,000 people in Ireland and 250,00 more are affected. A Dubai-based property developer was introduced to Paddyshop by an intermediary paid for his services. He staked £548, 000 in one online casino session.