Back in October 2016, many Paddy Power players woke up in the morning and saw something odd in their betting accounts. More money than they thought they had. All these bettors held a common belief and had placed a similar bet. Hillary Clinton to succeed Barack Obama as the President of the United States. And even though the elections were due for the 8th of November, the Irish bookmaker thought that Hillary could not lose and settled all these bets at that point. By doing so they paid out more than 1 million dollars. Trump’s populist and scaremongering tactics didn’t seem convincing enough for them. Ultimately, Paddy Power was wrong. But despite this significant loss, they didn’t cancel their policy next year when they paid out early on a Mayweather boxing victory against Mcgregor.
Now this raises the question, why do some bookies pay out early? Especially when the outcome is not as clear as it seems. The word we’re looking for is: Marketing. While the whole world notices that Paddy Power lost 1 million dollars, very few consider the fact that they made headlines worldwide, something that might have cost their early payout a vastly larger sum. For more than a month the name of Paddy Power was literally in every media across the globe, where it would be impossible to avoid.
When early pay out was first launched everyone was wondering why would the bookies actually do this? It was hard for most people to realise why do bookies pay out early. Take for example the 2+ goal early payout. Although a two goal lead is considered a very strong lead, it’s football and literally anything can happen. There are many examples in the past where teams overturned 2 goals or even bigger lead and surely you must have been on the receiving end of this at least once. So why do bookies pay out before the matches end? Publicity, as mentioned before, is the main and probably the only reason. Online gambling is an industry worth billions of pounds with tough competition. Losing a few thousands of euros in bets like these is a cheap way of advertising your brand.
Like almost every other innovation of Bet365, this one shook the world of online gaming. 2 goals ahead early payout offer became the trademark of Bet365 for some time. The concept was simple. Every time one team gets a two goal lead (2-0, 3-1 etc) the bet is settled and paid at that very moment. This was available only on major leagues and competitions (such as the Champions League and Europa League) at the beginning. As it was natural, this amazing offer attracted the interest of thousands of punters. Eventually, many old and new betting sites followed their example, and now early payment can be found on various sportsbooks.
Early payout is a very useful tool when it comes to accumulator punters. It provides a higher value compared to the cash out option. That’s because the bet is paid as if the game was settled, the bookmaker pays the whole value of the pick and not just part of it.
Bet365 and Paddy Power are the leading betting companies in this field. In fact, they are currently the only online companies offering this to their clients. Many other bookmakers seem to consider following their lead, but until now they are restricted to cash out options, with Betfred being the next possible candidate, as they already pay out early on 2+ goals on their betting shops.
There are few ways of exploiting the bookmakers early pay out. Don’t let all these articles that offer the best strategy for early pay out confuse you. There are alternatives for mixed betting and bookmakers don’t appreciate arbers. So if you don’t want to see your account being banned or limited forget everything about it. The only legit strategy that you can practise is to back the underdog in long term bets. For example, Leicester to win the Premier League as we mentioned before, or Derby to finish at play-off position, or other non-sports events that gather a global interest (such as American elections or referendums such as Brexit etc). Events like these gather much publicity and naturally bookmakers want to take advantage of it. So they might make a move that will easily increase your bank roll.