NEW YORK (TheStreet) -- While some people are happy just reading about the latest news on Tiger Woods' highly publicized personal woes, others are looking to turn his misfortunes into some cold, hard cash. Indeed, Irish bookmaker Paddy Power has been taking bets on which Woods sponsor will drop Tiger Woods next.
The 9/4 favorite to win was Accenture (ACN), which removed Woods from its homepage Friday afternoon and has ended its six-year sponsorship agreement him. A $100 wager over an Accenture breakup with Woods translates into a $325 payout from Paddy Power.
The odds of TAG Heuer cutting loose the world's number one golfer are 3/1, while P&Gs (PG)Gillette, which has said it will be limiting Woods' marketing presence, is at 6/1, Electronic Arts (ERTS) is at 12/1 and Nike (NKE) is at 20/1. General Mills (GIS), GMs Buick, American Express (AXP) and Titleist are also on the odds sheet, although Woods no longer has deals with them.Paddy Power will only make the payouts after the severed deal is reported by Fox or CNN, and provided that Tiger Woods has an official endorsement deal with the company. All bets are void if deals aren't dropped by 2011. The bookmaker says it has taken about 300 bets on Woods, with each bet averaging about $15, CNBC reports. Last August, Woods' loss to South Korea's Y.E. Yang in the final round of the PGA Championship cost Paddy Power more than $2 million. The bookmaker is renowned for settling bets early, so bettors received a handsome payout when Woods led the Championships with a four-shot lead before his shocking final round loss.
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