Bookmaker Takes Bets On Tiger’s Endorsements
Irish bookmaker Paddy Power is taking bets on which company, if any, will cut its endorsement ties with Tiger Woods.
Accenture is the favorite to be cut, with 9/4 odds, meaning a $100 bet will pay $325. Tag Heuer is at 3/1, Gillette is at 6/1, Electronic Arts is at 12/1 and Nike is at 20/1.
Five companies — General Mills, General Motors, Buick, American Express and Titleist — are listed on the odds, even though Woods no longer has deals with those companies. The rules stipulate that Woods has to have an official endorsement with the company for the bet to pay off.
Paddy Power says that the bookmaker will pay out when a deal is publicly severed and reported by Fox or CNN. The odds are active until the first deal is called off or until the final day of 2011. The bookmaker says they've taken about 300 bets on the Tiger props, with the average bet in the $15 range.
Accenture and Tag Heuer have still not issued a comment regarding Woods. The betting site does not include AT&T, which sponsors Woods’ foundation event, Tiger Jam, his summer golf tournament, the AT&T National, and is on his golf bag.
Paddy Power lost more than $2 million in August after it gave bettors that bet on Woods their money when he led the PGA Championship after 36 holes. Woods eventually lost to Y.E. Yang.
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