Bets on Greece Vote Causing a StirPublished July 5, 2015 by Sol FH
The largest online betting platform in Ireland has stopped taking bets on Greece's historical vote.
Paddy Power, one of the biggest online betting platforms in the industry and the biggest in all of Ireland is convinced that the Greeks will vote "yes". They are so convinced that they are already making payouts to those that bet on "yes". This is a monumental vote for Greece and there is big money behind the decision and behind punters that bet correctly.
Paddy Power spokesman, Rory Scott has already divulged information about the bet saying that Paddy has already paid out five figure amounts to the few thousand people that voted on the "yes". "More than 85% of punters voted "No" to the Greek decision but for those 15% that voted "yes" it is going to be a big payday.
The decision that Greek Prime Minister Alexis Tsipras' government to vote "no" will be rejected by voters and it could mean that Greece is kicked out of the Eurozone for the time being. The results could mean that Greece would need to accept the terrible austerity measures that were laid out for them by the International Monetary Fund, European Central Bank and the European Commission.
Tough Choice with Rumours
The entire decision has become of the most bet on political news of all time. It is hard for Paddy Power and other online sportsbooks to set lines because the markets are always changing, which have been rejected due to rumours of new deals.
The pre-decision payouts are not chump change and Paddy has already transferred the winnings into their online accounts. Although they have no stopped accepting bets on the issue, Paddy Power offered 2-7 odds that Greece would vote "yes".
The Irish platform was successful in predicting Obama's second term, the Scottish Referendum and the British Election but Greece is a unique and difficult decision to predict. They say one thing and then they do the other. It seems that punters have the best of this deal.