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Paddy Power may have crowned Arsenal as Premier League champions a little too soon, in a move that could cost them more than £1 million.
With Mikel Arteta’s side nine points clear at the top of the table just two weeks ago following a 3-0 win over Sunderland, the Irish bookmaker decided the title race was done and dusted, paying out early on the Gunners to win their first league since ‘The Invincibles’ side of 2004.
At the time, Paddy Power couldn’t see anyone reeling Arsenal in. Fast forward a fortnight and the Irish bookies’ crystal ball is looking a little foggy.
Arsenal’s back-to-back draws in the last week against Brentford and relegation-bound Wolves have thrown the title race wide open and handed the initiative back to Man City – leaving Paddy Power sweating on their decision.
Arsenal had to settle for a disappointing 1-1 draw against relegation-bound side Wolves
The early payout, which could end up totalling more than £1 million, now looks like one of the most costly calls in recent bookmaking memory.
The accountants won’t be happy with another early payout this season which could also prove a complete blunder.
Paddy Power paid out on Celtic to be crowned Scottish Premiership champions after just two matches, but they face a huge battle to retain their title with rivals Rangers and surprise front-runners Hearts giving them a run for their money.
It doesn’t stop there with the early payout blunders, with Paddy Power paying out on Hillary Clinton to win the 2016 US Presidential election and declaring Stoke City relegated on the opening day of the 2008/09 season… only for the Potters to finish 12th.
“We were so confident Arsenal had it wrapped up we practically started engraving the trophy ourselves”, a Paddy Power spokesperson said.
“In hindsight, it turns out nine points in February isn’t quite the same as lifting the trophy in May. Assuming it was all done and dusted that early was a bit Spursy of us!”
