Paddy Power Betfair as it will be known, the new company formed following the merger of the two United Kingdom power brokers, is expected to quickly become the predominant bookmaker in Britain and potentially the whole world.
What does that mean for punters and gamblers?
For starters, more advertisements from the often-controversial and always-edgy Paddy Power marketing department, and perhaps a bit of crossover to the Betfair brand.
“They have positioned themselves quite nicely as a mischievous brand,” Dave Buonaguidi, chief creative officer for advertising agency Crispin Porter + Bogusky told the Guardian. “Betfair are thinking: ‘If we add a bit of informality and become a bit Paddy Power, that’s OK for us.'”
The always-humorous Paddy Power actually teased the merger in July when Ladbrokes and Gala Coral joined together. “Hot on the heels of the Ladbrokes/Coral merger, we can exclusively reveal that we have merged with Betfair. Our new name is Betty Power,” the company tweeted.
Though the conglomerate will officially be named Paddy Power Betfair, the “Betty Power” catchphrase is, well, catching on among media outlets.
Perhaps a novelty betting line should be opened to consider the chances of “Betty Power” becoming the official corporate name.
Paddy’s Your Daddy
In terms of the merger, Paddy Power will retain 52 percent ownership in the new company, with Betfair handling the remaining 48 percent.
That signals that Betfair, regardless of whether it wants to become a bit more eye-grabbing in its marketing, will have to give the final say to its parent company Paddy.
“If we haven’t yet done the marketing equivalent of running up and slapping you in the face, then please allow us to introduce ourselves,” Paddy Power states on its website.
The Irish bookmaker is notorious for its strategy, and irrespective of where one stands in relation to its offensiveness, there’s no denying its effectiveness.
Over the last six months Paddy Power experienced 33 percent net growth with €80 million ($90 million) in revenues.
Sportsbooks and novelty wagering is up across most operators including William Hill and others in the UK, but Paddy’s earnings trump most rivals including Betfair who experienced only a 15 percent bump.
The in-your-face advertising campaigns keep people talking, and when it comes time to place a bet on a marquee event that attracts the more casual gambler, Paddy is often first to come to mind.
Just like Carl’s Jr.’s racy commercials, GoDaddy’s Super Bowl spots, and litigious exhibits from PETA, there’s no question Paddy Power has strong brand identity, and that’s something it likely wants to increase with Betfair.
While Paddy has offered lines on whether President Obama would be assassinated and produced a commercial saying it was going to insert some transgender ladies into the Cheltenham Ladies Day crowd to see if men could pick out the “stallions from the mares,” Betfair has historically been much more conservative in its approach.
One of its edgiest ads was a billboard in 2014 that read, “Paddy Power Bets at Betfair,” along with a suited horse/man. A caption below the image stated, “Meet Mr. Patrick Power in Disguise, a Betfair Customer,” a rather sluggish attempt considering its target.
Most pundits expect Betfair to trend away from its conventional approach, but those who are routinely appalled by Paddy Power do have one potential saving grace by way of Breon Corcoran.
The current Betfair chief executive will be given the same role of Paddy Power Betfair deal is finalized.