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| Mike
Joseph Tiger Woods' unprecedented collapse in the final round of golfs PGA Championship was a 1.5 million Euro bogey for Paddy Power PLC, Ireland's largest bookmaker. When Woods opened a four-shot lead after the second round, Paddy Power made early payoffs to bettors who wagered on Woods to win the year's final major tournament. This is standard practice to encourage punters to start betting again with money everybody assumes they are going to win anyway. The decision backfired when Woods blew a two-shot lead Sunday and was denied his 15th major championship by South Korea's Y.E. Yang at Hazeltine National Golf Club in Chaska, Minn. Woods entered the final round as the 1-5 favorite, having never lost a major in 14 chances when entering the last round at least tied for the lead. "It takes a special kind of dimwit to turn what should have been our best-ever golf result into our worst," company spokesman Paddy Power said in an e-mail statement. "Paddy Power punters are obviously the big winners here and have made like bandits getting paid out on Tiger as a winner." Dublin-based Paddy Power said the loss was its worst for an early payout. The company previously said its willingness to make payments before the completion of a sports event or soccer season helped attract record numbers of bettors. Woods had won his past 36 tournaments when holding at least a share of the lead entering the final round. He shot a 3-over-par 75 Sunday to finish three strokes behind Yang, the first Asian-born golfer to win a men's major. Woods had won his past 36 tournaments when holding at least a share of the lead entering the final round. He shot a 3-over-par 75 Sunday to finish three strokes behind Yang, the first Asian-born golfer to win a men's major. Yang had been 150-1 at Paddy Power before the tournament and 16-1 at the start of the final round on Sunday. "Tiger's good, but he could always have a bad day," Yang, who finished 8-under par, said through an interpreter during a news conference. "I guess yesterday was one of those days." |
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