Tuesday 17 October 2017

Poor betting odds on bookmakers handing back stolen money

Paddy Power has a responsible gambling policy – so why did a man lose €600,000 to it?

GAMBLER: Tony O’Reilly lost €1.7m. Photo: Patrick Browne
GAMBLER: Tony O’Reilly lost €1.7m. Photo: Patrick Browne
Declan Lynch

Declan Lynch

He told them he had inherited the money. Ronan Crowley had already lost about €400,000 on his Paddy Power online account when the famously vigilant betting corporation decided that they needed to stop taking his bets and to ask him about the source of his funds.

The true source was actually his employer, Boylesports, a major rival to Power in the betting game – Crowley was the manager of a Cork branch of Boylesports. But he told Paddy Power he had inherited the money, and there the matter rested for a while.

It rested so well, the €400,000 in losses would eventually become about €600,000, as Mr Crowley took the classic route of the chronically addicted gambler, hoping against hope that a few massive winners would make it all right, and he could start anew.

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