McDowell the punter’s pal after bookie’s odd decision

IT’S that rarest of occurrences: a bookmaker losing money. But like many political opponents in the past, Paddy Power seems to have badly erred in betting against Michael McDowell this week.

At 4pm yesterday, the bookmaker suspending betting on the leadership race, with Mr McDowell priced at a staggering 1/33 to win.

That was in stark contrast to the previous evening, when, following Mary Harney’s announcement that she was stepping down, the bookmaker surprisingly made Liz O’Donnell the favourite to succeed her.

Paddy Power quoted Ms O’Donnell at odds of 8-11, followed by Mr McDowell, who was first quoted as 2-1 before those numbers were narrowed slightly to 7-4. Even then, the ducks on the Leinster House lawn knew the 7-4 price was the best chance in years to clean out the bookies.

Sure enough, a red-faced but admirably good-humoured Paddy Power yesterday confirmed it was suspending betting on Mr McDowell after his odds came into an astonishing 1-33.

The bookmaker said it stood to lose in the region of 30,000 if McDowell is elected leader on Monday, as is widely expected.

“Those shrewd punters who backed Michael McDowell at 2/1 yesterday, and early this morning, must be counting their money, which we estimate at 30,000,” said spokesman Ken Robertson.