Paddy Power have refunded a record breaking £2 million in losing bets placed on today’s Racing Post Arkle Chase after their pledge to give punters their money back if favourite Sprinter Sacre won at Cheltenham came to fruition and triggered the multi-million pound pay-out, the biggest ever of its kind across the UK & Irish betting industry.
The total pay-out on the race was even greater as Sprinter Sacre was returned the heavily backed 8/11 favourite, sparking a further £2.7m pay-out on top of the refund, resulting in a combined pay-out close to £5m.
This was the fourth consecutive year of such a generous offer from Paddy Power with the favourite failing to oblige on each previous occasion, but the luck of the Irish finally ran out this time around.
Cousin Vinny (9/4) in 2009, Dunguib (4/5) in 2010 and Cue Card (7/4) last year have all prevented a multi-million pound payout from Paddy Power when going off as heavy favourites in the Supreme Novices’ Hurdle in recent years only to fail to deliver the goods.
Paddy Power himself said: “This money back special has proved our most popular ever and frankly we’ve dodged the bullet for far too long! It’s the first day of Cheltenham so we’re happy to give our punters the best possible start to the Festival!”
Don’t forget that Paddy Power are also offering free bets to the total of £200 for the Cheltenham Festival
http://www.cheltenham-festival.com/paddy-power/2012/03/13/paddy-power-increases-free-bet-from-20-to-200-for-cheltenham-festival/
