Saturday, August 15, 2009
CHASKA, Minn. — Few believed on Saturday morning that Tiger Woods would not win the PGA Championship, but Paddy Power, a betting site in the UK, put it’s money where its mouth was by honoring all bets on Tiger Woods to win – on Saturday.
According to an e-mail from the betting house, “Tiger is a dead cert – he just doesn’t lose from the front. It’s cost us an arm and a leg but the way we see it is that we’ll be paying it out on Sunday night anyway so his backers may as well get their cash now and enjoy the rest of the weekend on us!”
It will cost Paddy Power a cool 1.25 million pounds to honor the 7/4 pre-tournament odds and 1/5 post-Saturday odds.