Paddy Power Betfair has eyes on trainer Willie Mullins at CheltenhamComments Off on Paddy Power Betfair has eyes on trainer Willie Mullins at Cheltenham
All eyes may be on Olympic gold-winning cyclist Victoria Pendleton at Cheltenham next week but bookies are more concerned about how many of trainer Willie Mullins’ record 60 entries romp home at the Festival.
“Mullins’ favourites will be going off at much shorter odds than last year,” said Breon Corcoran, chief executive of the recently merged Paddy Power Betfair. “That means the ante-post risk for bookies is much lower. Victoria has done a phenomenal job switching from saddle to saddle but she won’t actually add to the total staked.”
Just 34 days into the merger and Corcoran is happy with how it is going and the potential for the future.
“The strategic reasons for the deal have only been strengthened,” he declared.
Full-year results from Paddy and third-quarter results from Betfair showed that both have grown strongly with revenues up 24% and 21% respectively.
And each has enjoyed much better football results, thanks to Leicester’s amazing performance and some poor results by the big four clubs.
Brexit has yet to take off, according to Corcoran, with some £2 million staked so far.
“In the Scotland vote the money came in later,” he said. “But our punters rate ‘leave’ at just 30% which is much lower than the polls.”