Paddy Power Betfair

In 1988, the Irish betting landscape was fragmented. Three bookmakers, Stewart Kenny, David Power, and John Corcoran, decided to join forces. Kenny brought business acumen, Corcoran had a chain of shops, and Power contributed his shops and a strong brand name. They merged their 40 shops, and to stand out in a crowded market, they chose a name with a distinctly Irish flavor: Paddy Power, with David's son, the well-known face of the company, also named Paddy Power, becoming a central figure. Their strategy was unconventional from the start. They injected humor and controversy into their marketing, a stark contrast to the typically staid betting industry. This maverick approach, focusing on novelty bets and a strong brand personality, helped them grow rapidly in Ireland. They were also early to embrace telephone betting, setting the stage for their digital future. A pivotal moment arrived in December 2000 when Paddy Power went public on the London Stock Exchange. This IPO provided the capital for aggressive expansion, first into the UK and then online with paddypower.com. Their online business became a massive growth engine, driven by the same irreverent marketing that defined their retail shops. The next major chapter came in 2016 with the completion of a merger with Betfair, a British online betting exchange. The new entity, Paddy Power Betfair (later renamed Flutter Entertainment), became one of the world's largest online gambling companies. This combination of a traditional bookmaker with a pioneering betting exchange created a powerhouse, solidifying their position in the global gaming industry.