The World Cup pundit won't be missed by all
After putting the likes of Pele and so called experts in the shade during the World Cup with his predictions, where he had a 100 per cent success rate, the tentacled star was threatening to put pundits out of a job.
"Frankly we are slightly relieved that Paul has departed from this world. He was great for business but we lost plenty of money on him when he kept picking the favourites and winning!" one bookmaker told Goal.com.
Paul shot to fame during the World Cup when he correctly predicted the outcome of every German match including their unlikely defeat by Serbia. The Serbs upset Germany and were long shots at 6.25 to rack up the victory making Paul popular inside the betting industry.
However, his short term pin up status in the world of betting was eradicated when he backed Germany to beat England and Argentina when on both occasions the Nationalmannschaft were underdogs. In the semi-final he fancied favourites Spain and once again he was proved right.
David Mole, Goal.com's betting and odds expert, is convinced a conspiracy may have been responsible for Paul's death.
“The bookmakers love this kind of story at first, it draws attention to predictions and betting and they can rejoice in the fantastic publicity but then the bets started to pile on his latest predictions and all of a sudden they were starting to get worried.
"You can only imagine the crisis meetings held at bookmaker HQs across Europe discussing how to pour scorn on the Eight Legged Freak! Plots to discredit his past relationships and to set up a sting operation involving a fake Sheikh were rumoured but never came to anything.
"Anyway, his passing would have been too high profile then, much better to take him out when the attention has fizzled away and no-one is watching!"
Bookmakers are convinced that we may not have seen the last of Paul the Octopus pricing an unlikely comeback at 250/1. As the world mourns his loss you can back a state funeral for Paul at 1000/1 and Sepp Blatter to send a wreath at 100/1.