Paddy Power launch giant Lucky Pants hot air balloon at Cheltenham Festival.

LONDON, Wednesday 13th March 2013: Punters at the Cheltenham Festival were today treated to a surprise unveiling of a giant pair of flying, green Y-Fronts.

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Believed to be the world’s first pair of flying undergarments the balloon was modeled on bookmaker Paddy Power’s legendary ‘lucky pants’.

Using over 3,600 square feet of material and boasting a 2,260 inch waist band, the unique craft took a team of top engineers six months to make.

Paddy Power plan to use the balloon at sporting events to offer competition winners a chance to view sporting events from ‘the best seats in the house’.

A spokesperson from Paddy Power comments, “We couldn’t resist inviting punters to get into our lucky pants at Cheltenham this year – so we needed a pair of epic proportions! Our flying y-fronts provide an unrivalled view of the action for punters, as well as hopefully giving anyone in the grandstand a sight to remember and a bit of Irish luck“.