The stunt is part of the bookmaker’s campaign to highlight its offers for the Cheltenham horse racing festival, which starts tomorrow.
The male model is, in fact, the son of Paddy Power founder David Power. He also happens to be called Paddy Power.
David Sandall, head of sportsbook marketing at Paddy Power, said: "We wanted to kick off our Cheltenham campaign with a bang and we’re delighted to be the first brand to take over the famous Page 3 slot in Ireland.
"Paddy is a hugely popular figure over here and hopefully he didn’t put too many readers off their breakfast this morning!"
Paddy Power, which is also running a new ‘complaints line’ TV campaign in the UK, is parting company with its CMO Gav Thompson following its merger with Betfair.
Thompson is being replaced by his counterpart at Betfair, Jonathan Devitt, who will become chief marketing officer of the combined entity, Paddy Power Betfair.