Winning football streak hits Betinternet's profits

The Isle of Man-based betting group betinternet.com said a winning streak by leading European football teams, such as Manchester United and European champions AC Milan, has affected half-year profits.

The company said its half-year figures were down because its specialist football focus left it vulnerable to a run of success by the leading clubs.

The online betting group recorded pre-tax losses of £1.1m (€1.6m) for the six months to 30 November, against losses of £135,000 (€197,500) in the same period last year.

Managing director Paul Doona said: "Our customers in the Far East have a particular tendency to always back the favorites, so when there's a run of favorite teams winning we lose out."