Cheltenham: Bookies hoping to hammer punters after huge 2016 loss

“Hopefully, from a results perspective, it’s very different,” says Paddy Power boss Breon Corcoran

12th March, 2017
David Noonan on Rolling Maul, David Bass on Un Ace and Tom O'Brien on Saddles Encore clear a jump in the Pertemps Network Final on St Patrick's Day, the third day of last year's Cheltenham FestivalGetty

Paddy Power Betfair is seeking to get even with punters at next week’s Cheltenham Festival after the British betting industry incurred record losses at last year’s edition of the storied horse-racing event.

“Hopefully, from a results perspective, it’s very different,” chief executive officer Breon Corcoran said by phone after the company reported that full-year earnings rose 35 percent but online gaming softened, hurting the shares.

“We lost £20...

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