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Paddy Power payout £5 million as Sprinter Sacre romps to Cheltenham victory

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Jockey Barry Geraghty riding the horse 'Sprinter Sacre' celebrates after winning the Arkle Challenge Trophy Steeple chase race on the first day of the Cheltenham Racing Festival in Gloucestershire, western England, on March 13, 2012. AFP PHOTO/ANDREW YATES (credit: ANDREW YATES/AFP/Getty Images)
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Sprinter Sacre's facile win in the Arkle Trophy on the opening day of the 2012 Cheltenham Festival has cost Paddy Power £5 million thanks to the money back special they were running on Barry Geraghty's mount.

Paddy Power hit the headlines ahead of the 2012 Cheltenham Festival with some controversial television adverts and their money back special on the Arkle Trophy on the opening day at Prestbury Park has now cost the Irish bookmaker a massive £5 million in payouts.

The firm were refunding all losing bets on the Arkle if odds-on favourite Sprinter Sacre won the race and that proved irresistible for millions of value seeking punters. They were rewarded as Barry Geraghty's mount romped home ahead of Cue Card, meaning a monster payout for Paddy Power.

Over £2 million was refunded to customers while more than that - £2.7 million - was paid to customers who had backed the favourite to win the race. This makes the full payout the largest of its kind and it could well be a tough Cheltenham Festival for the bookmakers.

Over 250,000 spectators were packed into Prestbury Park to watch Sprinter Sacre's Arkle victory, most of whom appear to have backed the winner at Paddy Power.
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Paddy Power payout £5 million as Sprinter Sacre romps to Cheltenham victory

Sprinter Sacre's facile win in the Arkle Trophy on the opening day of the 2012 Cheltenham Festival has cost Paddy Power £5 million thanks to the money back special they were running on Barry Geraghty's mount.

Read more »

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