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Premature payoff costs Irish bookie

Updated: August 17, 2009, 3:56 PM ET
Reuters

DUBLIN, Ireland -- Tiger Woods's failure to turn a commanding lead into a PGA Championship win on Sunday left Irish bookmaker Paddy Power about $2.12 million out of pocket.

Paddy Power, renowned for settling its bets early, paid off anyone who bet on Woods to win the PGA Championship title on Friday, when he led by four shots through 36 holes. The bets were paid at odds of 1-to-5.

However South Korean Y.E. Yang overhauled Woods on Sunday to win by three shots. Not that it mattered ...

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