The ad, Paddy Power's third foray into TV advertising, was directed by Michael Downign and created by Big Al's Creative Emporium, with media handled by M2m. It features two models sensually talking to each other about their mobile phones.
The mocking ad is then interrupted by a man who tells viewers how to use the Paddy Power betting business through their mobile phones, stressing the brands straightforward attitude.
Adam Perrin, head of brand, Paddy Power, said: "Paddy Power is leading the way in reaching the next generation of customers. This campaign reflects our position at the cutting edge of the betting industry and being the most modern bookmaker for punters to bet with while retaining Paddy Power's established brand strengths for fun and irreverence."
Stef Jones, creative partner at Big Al's said: "The campaign shows the archetypal behaviour of betters, and is another example of the irreverent but appealing brand that is Paddy Power."
Paddy Power's previous campaign, also by Big Al's, was the controversial "blind football" spot. It was one of the most complained about TV ads in 2010. The ASA rejected calls to ban it last summer despite the authority receiving more than 1,000 complaints.
Paddy Power is currently searching for creative ideas via crowdsourcing site ideabounty.com. The bookmaker is offering $3,500 to whoever comes up with a big creative advertising idea.