Paddy Power was launched in 1988 as a merger of Ireland’s biggest bookies. It was in response to the number of English bookmakers muscling in on the gambling scene in the country. This Dublin-based betting superpower proved to be an instant hit and has grown in both size and reputation.
Paddy Power is now a multi-national online sports betting company with members in every significant betting country globally. The business has over 600 land-based bookies, thousands of employees and millions of regular customers.
How much is Paddy Power worth?
The current share price of Paddy Power today shows the business is sitting around the £64 mark and has been steady at that for quite some time. That figure means Paddy Power has a market cap of over £29bn with an enterprise value of over £31bn.
Since buying over the Betfair sportsbook and exchange business, Paddy Power’s worth has skyrocketed. They now trade from the umbrella Paddy Power Betfair with this merger paying off massively for its many investors. It was reported when the takeover was announced in 2015 that it created more than 200 new millionaires.
What Is Paddy Power’s Annual Turnover?
As you might expect, this bookie certainly isn’t lacking on the revenue column of their annual returns and stands at just show of £6bn which means they rate as one of the wealthiest and most successful bookmakers in the world and not far off the top 1000 businesses in the world in terms of turnover, profits and value.
What does this mean for bettors? Well, not a great deal in your day to day bets, but the success story of the Paddy Power business model is evidence enough that they are a huge company and one that is extremely popular. The reason for that popularity is down to the satisfaction they give customers.
The comfortable profit margin also ensures the sportsbook and casino site can cover all winnings you make without hassle and are rich enough to honour your bets.
Paddy Power Marketing Efforts
Continued profits mean the business can plough cash into their marketing budget, which relates to generous odds, promotions and tech. Paddy Power have previously spent a lot on their TV adverts, with the advert inside a stadium and their popular 2020 advert featuring Peter Crouch and his wife Abby Clancy not being cheap to pull off.
The successful sports betting business has allowed them to always have a generous free bet offer, great promotions like their 2Up offer, rewards club, and power ups. They have a diverse sportsbook with up to date features like cash out, plenty deposit options, quick withdrawals and their famous Paddy Power app.