Irish betting giant Paddy Power has struck gold with a five-year partnership with French sports betting duopoly PMU.
New Paddy Power B2B arm signs landmark deal with France's PMU
PADDY POWER HAS MADE a major play for the French market, signing a five-year deal with French duopoly operator Pari Mutuel Urbain (PMU), the largest single operator in Europe, via a new Paddy Power business-to-business (B2B) division.
PMU chief executive and chairman Philippe Germond today said: "This partnership is going to enable PMU to offer sporting bets online under its own brand and retain direct management of its client database. Paddy Power will provide us with its expertise in sports betting. Through this partnership PMU is given the means to be ready for the opening of the online betting market in France next year."
Paddy Power's traders will set PMU odds, set risk parameters for each event, bet type and customer and manage PMU’s online promotions from Dublin.
Chances are they won't look much like Paddy Power odds by the time the French government taxes and levies get involved, but even still, this is a huge deal for Paddy Power, who have also expanded into Australia this year.
Meanwhile, the dominant players in the UK market, Coral, Hills and Ladbrokes, prefer to stick to the British market, hampered by heavy debt burdens which restrict their expansion options. And the latter two nicked off to Gibraltar to save a few pennies as well...