Paddy Power looking to follow in Trump's footsteps2017-06-02 09:48:14
The Dublin-based bookmaker who constantly pokes fun of Donald Trump on social media may attempt to make America great again themselves.
The chief executive of the Irish bookmaker - Paddy Power recently announced that Paddy Power is interested in expanding further into the USA. Paddy Power bosses believe that due to the vast competition in Europe from bookmakers, venturing across the Atlantic could be a profitable and realistic opportunity.
The market in Europe is quite saturated and Paddy Power believe that rivals may team up together in order to avoid going out of business altogether. There have been many mergers already in Europe including Paddy Power themselves and Betfair. There are many bookmakers who will have to merge in order to stay afloat and it’s not only small bookmakers.
Paddy Power has expressed caution about their growth in recent times in Europe due to the extreme competition. According to Paddy Power CEO Breon Corcoran: The market has intensified as firms seek to offset higher taxes and tighter regulation with increased revenues” He also commented on the merger between Paddy Power themselves with Betfair: “It is hard to see competition abating but growing revenue sensibly and enhancing profitability over the medium term was the right thing to do.”
Paddy Power recently purchased US fantasy sports company DRAFT in a $48 million deal. The fantasy sports market is a lucrative market worth an estimated $300 million. Sports betting is largely illegal in the USA but the purchase of DRAFT gives Paddy Power the opportunity to compete in the USA.
Odds on Trump to be impeached plummet
Paddy Power would be hoping to fare better in the first few months in the US than the man himself. Paddy Power is offering bets on whether Donald Trump will be impeached. In an advert released by Paddy Power recently, Donald Trump is shown behind red bars which make up the American flag. Paddy Power are offering odds of 2/1 on “The Donald” to be impeached during his first term.
These latest odds come after it was reported recently that Trump has revealed classified national security information to Russia. Donald Trump has also recently fired FBI Director James Comey. Not everything is going smoothly for Trump in his first few months in the White House and Paddy Power are looking to entice punters with these juicy odds.
Along with offering odds on impeachment in Trump’s first term, Paddy Power offer odds on Trump resigning at 15/8. To add insult to injury for Trump, you can also take a punt on confirmation from the FBI over collusion between Trump and Russia. Paddy Power offers odds for collusion at a very short 5/4.
Paddy Power may be aiming to make headway into the US but they are holding no mercy for the president. If their odds are anything to go by, he might not be in power for too long.