It seems the stereotype may not hold true – except for bookmaker Paddy Power that is. Citing an unexpected number of favorable sporting event results, the Irish firm saw profits for the first six months of 2007 raise to over 35.4M (Eire), nearly double the 17.5M (Eire) it recorded during the same time in 2006. Even this past July and August have proved fruitful, as bad weather has brought about more sporting upsets. Paddy Power is now projecting a fiscal year profit of 68M (Eire), nearly 6M more than it had forecast in June.
Ireland in particular suffered huge home losses,
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