Thursday, December 07, 2006

Paddy (abuse of) Power

On 17th September, I placed an €8 double with Paddy Power on Teofilo - @ 7/4 to win the National Stakes that day & 16/1 ante post to win the 2000 Guineas.

They’ve now advised that it’s a “Related Contingency Bet” and is invalid under their rules - emailed to me and quoted below:

"Related Contingencies: Multiple bets are not accepted where the outcome of one event contributes wholly or partly to the outcome of the other."

I don't see how the OUTCOME of the National Stakes contributes either wholly or partly to the OUTCOME of the 2000 Guineas. I do see how it changes the odds offered, but there's no mention of that in Paddy Power’s rule, as quoted by them.

Paddy Power say that the bet can either be voided and the stake returned to me, or the stake split into 2 separate win bets. Incidentally, they tell me that if the first leg had lost, the bet was forfeit!

If Teofilo wins the 2000 Guineas, my double would return €374. If the stake is split, then my return would reduce to €79 - a difference of €295.

I’m trying to get the At The Races TV channel to raise this with Paddy Power, hoping to embarrass them to reverse their position.

I’m not holding my breath.

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