Taking a punt on Chinese market

Bookmaker Paddy Power is taking a punt on the State's growing Chinese population. In its latest offbeat bid to win new customers, the company has established a dedicated Chinese-language telephone betting service.

Paddy Power has produced special flyers and this week began distributing them to restaurants, internet cafes and other centres with Chinese customers. The service was also advertised in the State's only Chinese language newspaper, Shining Emerald Isle.

The flyer features the Paddy Power logo, details of a special offer and the "dial-a-bet" phone number, in which the digit eight appears four times. Chinese people regard eight as particularly lucky, even when it's associated with an Irish bookie.

A Paddy Power spokesman said last night that the company was just dipping its toe in the ethnic market. "We have no idea of what its potential value might be," he said. "We have noticed that Chinese people are interested in betting in our shops, so we decided to see if this would work."

An estimated 40,000 Chinese people live in the State, with a significant proportion of them in the high-spending 18 to 35 age bracket. Racing and other forms of betting are popular with the Asian community.

Paddy Power doubled its profits to €17.8 million last year. It frequently uses quirky marketing gimmicks and money-back deals to win favour with punters.

Last month, it offered 10-1 against Britain's Queen Elizabeth arriving at Ascot in a lilac-coloured hat. The punters jumped in and forced the price down to 3-1. When she turned up in lavender, the bookmaker paid out on the basis that it was "close enough", losing what it said was a few thousand pounds sterling in the process.

In March it paid out on all ante-post bets on Arsenal to win the English premiership. This cost it an estimated €200,000 when Manchester United subsequently grabbed the title.

However, as the great and good prepare for the annual multi-million euro slaughter of punters that is Galway Races, we can assume that Paddy Power has an odds-on chance of recouping some of its earlier losses.