Paddy Power Sports Betting Slammed by US Open Golf Prediction
Paddy Power, a major online sports betting service, says the uncanny prediction of a radio analyst cost the company millions of dollars on wagers for last week's US Open golf tournament. The correct pick of Lucas Glover to win by Bob Bubka resulted in a slew of bets on Glover, costing the online gambling site at least $1.6 million.
As in all golf events in which he is entered, Tiger Woods was the prohibitive favorite to win the Open. Glover began the week of play as an almost unknown longshot, listed at 175 to 1.
But Bubka told interviewers on Sportstalk Radio in Ireland that Glover was his choice to take the title at Bethpage Black. After Bubka's pronouncement, Paddy Power says there was a "betting frenzy," resulting in the drop of odds on Glover all the way down to just over even money, at 11 to 8.
Bubka told Newsday that he had talked to both Glover and his caddy during practice rounds. He said Glover told him he had found something in his game that worked for him in the Open qualifier, and Glover's caddy confirmed the improvement.
"I told him, 'If you found something, that's good enough for me,' " Bubka said.
Paddy Power's losses don't tell the whole story, as the sports book expects to make a profit whenever Woods, Mickleson, or one of a very few prominent names doesn't win. But, despite dropping the odds as rapidly as they could once bets on Glover started coming in, many players were able to purchase wagers at the monstrous value at which Glover opened.
Bubka, who is a commentator for World Golf Radio, also picked Angel Cabrera to win the Masters, as he did. Clearly Irish golf fans got the message that Bubka knows what he's talking about, and responded accordingly.
Bubka hasn't picked a favorite yet for the upcoming British Open, but you can bet Paddy Power oddsmakers will be paying extremely close attention.
