Paddy Power History and Expansion

Updated: 15.08.2025

Paddy Power is an Ireland-based gaming company that conducts its business through a wide range of online offerings. These include sports betting, casino-style games, bingo and poker. In addition, the company operates approximately 350 betting shops in both Ireland and the UK, giving it a significant presence in both jurisdictions. Most recently, the company itself reported that Duquesne Capital Management, Ltd. held a 4.8% short position in the company.

Americans may not have heard of Paddy Power, but it is hugely popular in many other parts of the world. With its eccentric betting markets, relentless innovation and first-class customer service, it has risen to the top of the European gambling industry.

The Founding

Founded in 1988, Paddy Power was created when three Irish bookmakers, Stewart Kenny, David Power and John Corcoran, pooled their resources. They took 40 physical betting shops (the same ones that had been generating a steady stream of profits since 1981) and created a brand that has become one of the leaders in the online betting industry.

From the very beginning, Paddy Power has always operated a little differently from its fellow bookmakers. It has always been good at treating the customer like a VIP. (The founders certainly did not want Paddy Power to be like the other bookmakers of its day - taking bets, paying out winners, and enjoying a business that churned through its customers like cattle. Their operating philosophy was simple: Be nice to the customer as if he or she were a friend.

The founders treated every customer as a valuable asset. Paddy Power did this by serving the best customers, being entertaining in its shops, and creating a more welcoming atmosphere than its competitors. It was this combination - a "trifecta," if you will - that set the nascent company apart from other bookmakers. And it worked to make them popular.

Paddy Power was also notable for remaining true to its Irish origins. At the same time, several British bookmakers were trying to do business in Ireland. These British bookmakers were fine places to place a bet, but they didn't have the local feel that made Paddy Power so attractive. In fact, Paddy Power was very popular in Ireland and continues to operate there today.

Not content to stand still, the group embarked on a policy of bold growth. They opened new betting shops in cities across the country. These shops were placed in carefully selected, easily identifiable locations in the city, not, as bookies usually did, in some hidden side street.

When you did business with Paddy Power, you didn't sneak off to some seedy part of town and place your bets like a pathetic addict. You went to the town square and placed your bets in a clean, welcoming space staffed by friendly employees. This is what made Paddy Power a cut above the other local bookies back in the day.

Paddy Power Goes Online

By 2000, there was already a thriving betting company in Ireland called Paddy Power. However, they were far from finished with their plans. In 2000, the company purchased the domain name PaddyPower.com and organized the creation of a global online betting company to operate under that name.

Their online operations would eventually outpace and then surpass their physical stores. Over time, PaddyPower.com has grown to become one of the largest online bookmakers in Europe. They did this by embracing the internet and bringing the same level of entertainment and customer service to the internet that they had in their betting shops.

For example, consider how Paddy Power operates. They do not cancel bets when it is obvious that the outcome will be unfavorable for the company. For example, there was an instance in 2011 when Paddy Power allowed customers to combine a bet on the outcome of the Champions League final with an ongoing promotional offer. This promotion ended up costing the company unexpectedly. And instead of doing what most bookmakers would do - cancel the bet and make their customers very unhappy - Paddy Power paid the bet. It was €3,000,000...

Paddy Power's online business has continued to develop and grow since 2000. Nowadays, the company's website takes in over €4 billion worth of bets every year and sees that amount grow to over €400 million in revenue. With numbers like these, Paddy Power is a very serious player in the North American and European online betting markets.

Paddy Power's online triumph is partly due to the group's constant innovation. They are always adding new features, offering interesting bets and coming up with clever marketing. They are always doing something.

Paddy Power was one of the first sites to go mobile. It was the first bookmaker to release an app on the official Apple App Store. They later added live streaming of sporting events to their mobile apps. Today, 45% of their online revenue comes from mobile betting.

Expanding Into New Markets

The Paddy Power team is ambitious. From the very beginning, Paddy Power has always sought to expand into new markets. In 2004 they moved into games of skill and chance. The following year they moved into the virtual world of online poker. The year after that, they added online bingo to their repertoire of online games. Now they offer a full range of gaming options, all under one roof and all online.

Paddy Power also expanded into the international market. In 2009 they bought a 51% stake in Australian bookmaker Sportsbet.com.au. In 2010, they acquired the rest of the company. This made Paddy Power the largest online bookmaker in Australia.

In 2009, Paddy Power began exporting its technology to other countries. In the same year, they began to enter into software licensing agreements with betting organizations in France and Canada.

Paddy Power Is a Little Different

PaddyPower.com has always been talented in the way it goes about marketing. They have taken bets on controversial topics, such as whether or not America would elect a black president. They have also made bets on other controversial topics. And they have been described as running some very inflammatory ads. But in a way, even if they are ruffling feathers with their poor judgment on what else to bet on or how to advertise, this is a company that definitely bears the mark of a true outsider.

Paddy Power recently took bets on the outcome of the Oscar Pistorius murder trial. Thousands complained. The UK's Advertising Standards Authority even forced Paddy Power to withdraw the bet. Controversial? Yes. A brilliant marketing ploy? Yes again.

The ASA in the UK has investigated Paddy Power's ads and at least one has been deemed inappropriate and taken off the air. Each of the following two ads were either banned from airing at all or withdrawn.

Exhibit A:

Exhibit B:

Paddy Power is funny in a way, because the betting company seems to be proud of the controversy its ads create. On its official YouTube page, the video description of the "Stallions and Mares" ad states that it was taken down within four days. Indeed, if that were a record, it would be a pretty good one.

Controversial or not, these are the things that make Paddy Power stand out. The company enjoys the company of its supporters, and it has considerable talent in the marketing department aimed at its demographic. All signs point to Paddy Power being a serious player in the gambling business for some time to come.