Paddy Power is Ireland’s largest and sometimes most controversial bookmaker. They have drawn flack from the public, the catholic church and the government standards watchdog for some of their more risqué advertising campaigns, novelty props and press releases. However the bookmaking firm has decided to refund punters who were set to lose money from the recent and controversial Monaco F1 Grand Prix.
F1’s governing body, the FIA has started an investigation into how Lewis Hamilton, a British driver with the Mclaren team was ordered not to challenge team-mate Fernando Alonso. The FIA is concerned that “rumored” team orders were enforced, something which FIA regulations expressly forbid.
Another British high-street bookmaker, William Hill, suspended betting on the outcome of the drivers' world champion after the FIA started the investigation. William Hill has however confirmed that they would pay out to those who correctly predicted Fernando Alonso as the winner.
The decision to refund bets may cost Paddy Power up to $100,000. "The only fair thing to do is give punters their money back" said a Paddy Power spokesperson. "There's an unwritten rule in betting. If you can't win, you can't lose."
