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It was played in a variety of formats; from complete round robin series to straight knock out tournaments. From the 1951–52 season it was played as a knockout tournament. It was traditionally seen as the fourth most important competition for League of Ireland sides (after the League, FAI Cup and League of Ireland Shield or League Cup).
In both 1956–57 and 1959–60 Shamrock Rovers drew with Drumcondra in the final but won the trophy based on the unusual tiebreaker of having been awarded more corner kicks.