Snow joke! Bookies facing record payouts

BOOKMAKERS have admitted they’re facing record payouts on a white Christmas, following a blizzard of festive bets over the past week.

Paddy Power has once again slashed the odds on snowfall in Ireland on Christmas Day, after admitting it will be forced to shell out more than €500,000 if punters’ dreams of a white Christmas come true.

The Irish bookmaker paid out more than €100,000 in 2010 following snowfall in both Ireland and Britain on December 25 – their highest yuletide loss to date.

But the bookies’ analysts fear they could be stung for at least five times that amount if the mercury levels continue to plummet. The odds on a white Christmas in Dublin has been slashed from a starting price of 20/1 to just 3/1. Cork is also at 3/1, while Belfast is the favourite to see snowfall, with odds down from 10/1 to 2/1.

Spokesman Paddy Power said: ‘We could be facing an avalanche this Christmas – and I don’t mean snow.

‘If it’s a white Christmas, it’ll be an expensive one for Paddy Power, as we’d be left on thin ice by a record payout.’

Meanwhile, BoyleSports reopened its white Christmas betting earlier this week, after being forced to freeze festive betting following another blizzard of bets.

The bookie is offering 3/1 on snow at Dublin airport on Christmas Day, while no snowfall on December 25 is priced at 1/5.