Tom Lyons, on Businesspost.ie, reports:
Former billionaire Seán Quinn has returned to business by launching a new online sports betting venture called QuinnBet.
The new venture has just gone live and is targeting sports betting in Ireland and Britain. It also plans to launch an online casino later this year.
Seán Quinn Sr heads the business but a number of other family members are understood to be involved, including his son Seán Quinn Jr.
The business secured a gambling licence earlier this week. Like Quinn’s previous ventures in cement, manufacturing and insurance the new business appears to be aiming to win business by offering lower prices than rivals.
Sean Quinn is back in business with betting venture (Businesspost.ie)
Just had a nose, they’re offering 9/2 on Liverpool -3 tomorrow, whereas Ladbrokes are 6/1 on the same bet. For those who aren’t into betting that means a winning €10 bet with Seanie would return €55 whereas the same bet with Ladbrokes would return €70.
Their two promo’s are a nightmare to figure out. The 50% refunded on your first bet seems limited to €10 – miserly promotion for a new account when Bet365 will match your deposit up to €200, and the other one about getting 25% of your losses back, I gave up reading after about 4 points.
In an already over-saturated market this is venture is destined to fail.
“In an already over-saturated market this is venture is destined to fail”
Be prepared for some steady losing bets from the east…
True point that it’s already an overly saturated market, makes you wonder how he got a license…
…had a quick look but gave up …seems to be still under construction. I’d say if you took 9/2 with Quinn it would be laid off immediately and Quinn are operating on the margin…nice work if you can generate enough business…
Give the guy a break, he is giving employment, …everyone deserves a second chance.
Bet it all works our for him this time!
Remember this man ran an insurance company while employing no actuaries
Sean Quinn does gambling? Why’s that news?
I can only think the plan here is that they’re hoping Paddy Power or Boyles etc. make an offer to take them over after a couple of years and they make a tidy profit. Just can’t see that they’d be competitive or profitable as a comparatively small player in this market.
Hmmm, were those big betting boys ever interested in Ivan Yates’s failed enterprise? I think PP are more into global spread right now.
Seans record with betting is the past is not great.
1/10 that there will be a gambling levy on every bet in about 2-3 years when his latest sh!tbox falls over
What’s next? QuinnBurger? Lot’s of cheap pink slime produced up in those parts….
Seems apt. Betting has its purpose.
Anyway Quinn might be late to the party
Create a betting site, fantastic way to launder money..
I’d say “buying” the likes of Neymar might be even more efficient