Online betting firm scores big after World Cup helps net 39% profit rise

Online gambling company Betfair reported strong growth in quarterly profit yesterday, thanks to the World Cup, and defended its accounting policies after an error relating to past dividend payments.

Betfair said it generated almost £16m (€20m) in revenues from the tournament in Brazil, more than double what it made during Euro 2012.

This helped to lift core profit by 39% to £34.5m in the three months to the end of July, the first quarter of its financial year.