Paddy Power To Leave Italian Market
October 24, 2017
Paddy Power are well known for their comedic view on betting and sport in general, gaining followers and customers all around the world with their distinctive marketing campaigns. Unfortunately for their customers in Italy, Paddy Power Betfair have announced their intention to withdraw access to the Paddy Power website for those in the Italian market.
According to many reports, the decision to withdraw from the Italian market was made after the merger between Paddy Power and Betfair in 2016. The withdrawal means that the paddypower.it website will close down in December and their members in Italy will no longer have access to the Paddy Power website at all.
After this occurs, Paddy Power Betfair will still have a presence in the Italian market through the Italian branch of Betfair. Of course, the fact that the Betfair site will still be available is good news from a matched betting point of view.
Who are Paddy Power?
- An Irish bookmaker that started back in 1988
- They now have over 350 retail outlets across Ireland and Great Britain, with a head office in ‘Power Tower’ in Dublin
- Well known for their comedic advertising campaigns, including a 108ft statue of former England manager Roy Hodgson and handing out their famous Paddy Power branded green y-fronts
- Accept bets via telephone, mobile, online and in-store
- Provide betting markets on over 40 various sports, including football, horse racing and tennis
- The company merged with Betfair in 2016
The company have obviously decided that there is no value in keeping the Paddy Power website open to Italian customers. It has been speculated that this could be due to plans from the Italian government to increase the amount of tax paid by both land based and online betting companies.
Reports suggest that the amount of tax paid by land based betting companies will increase from 18% to 19%, while tax paid by online companies will be increased from 22% to 23%. This decision also comes on the back of the growth of a direct rival, Plentwin365. They have recently become the market leader for online sports betting in Italy, surpassing bet365. The growth of Plentwin365 has followed a very successful commercial partnership with Serie A side Napoli, who are currently top of the league.
Since the merger between Paddy Power and Betfair, all signs point to business being very good though. Now, they are in an excellent position to grow the company and continue profits coming in over the next few years.
Matched Betting With Paddy Power
As mentioned, there are some good matched betting opportunities available on the Paddy Power website. Matched betting is a great way to potentially earn an extra income online with the added benefit that any profits you make are tax free. Matched betting is possible as bookmakers promote offers in order to attract new customers and to keep the current customers betting. These offers often come in the form of a free bet or bonus when you sign up for a new account.
The way we can potentially make a profit from matched betting is by using the bookmaker website and a betting exchange to place bets on both outcomes of an event. With the help of our matched betting calculator, you are given the ideal stakes to achieve the same financial outcome whatever the result. A back bet at the bookmaker will cover the selection to win, while the lay bet with the betting exchange will cover the same selection NOT to win. When following our step by step guides in the premium section of MatchedBets.com, you can expect to make profit from bookmaker offers.
Let’s take a look at the current offers available on the Paddy Power website, that can be used to make an expected profit through matched betting.
New Customer Offer
If you do not already have an account with Paddy Power, you could make a profit of around £15 from their welcome offer. The way this offer works is to deposit and bet £20 of your own money, and then the bookmaker will refund your stake in cash if the bet loses.
With the help of our matched betting calculator, you will be able to find out the ideal lay stake that you will need to place with the betting exchange. Simply select the ‘Bonus on loss’ option and put the relevant bet details into the calculator and then the calculator will let you know exactly which bets you need to place.
If your bet wins with Paddy Power you will have made a bigger profit with them than you will lose on the exchange. If your bet loses, you’ll win on the exchange, and the cash refund received from Paddy Power will leave you with an overall profit from the offer.
As well as sign up offers, profits can potentially be made from reload offers as well. One of these is the VIPP Club from Paddy Power, who will give you a £10 free bet to use every week that you place five or more £10 bets between Monday and Sunday. This offer has an expected profit value of £5 every week. The good thing is that if you miss a week then you can still take part the next week, providing that you meet the qualifying criteria.
Bet £20 Get £10
When you place a £20 ante-post bet on the upcoming weekend’s horse racing between 8am on Monday and 23:59 Thursday, you will be given a £10 free bet which can be used on Saturday or Sunday’s racing.
If you are not familiar with the term, ante post is a phrase used for bets placed at least a day in advance of the event. This is a very good offer from a matched betting point of view, as it has an estimated value of £7. As always, you can follow the step by step guide in our premium section in order to complete this offer from start to finish.
There are quite a few other offers on the Paddy Power website right now too, including 2 Up, Money Back if 2nd, 3rd or 4th to the SP favourite and Hotshot Jackpot.
Here at Matched Bets, we provide you with all of the tools. Our members get access to over £1000 worth of sign up bonuses with step by step instructions explaining how to convert the offers into expected cash profits. The industry leading software will help maximise the profit potential of each offer.