Bookmaker Paddy Power has reported pre-tax profits of €52.5m for the first six months of this year, an increase of 54% from the same period a year earlier.
The company said its results were helped by what it called an 'exceptional' World Cup, which generated four times as much money for the firm as the previous two international football tournaments.
Underlying earnings per share rose by 31% to 82.2 cent and the interim dividend has been increased by 28% to 25 cent per share.
Chief executive Patrick Kennedy also said the group expected its full-year performance to be ahead of market expectations.
Paddy Power's total income rose by 55% to €205.6m, as the total amount of money staked by customers jumped 65% to almost €1.9 billion.
UK customers account for biggee share of profit
Profits in its online betting business were up 66% to €36m and now account for almost three-quarters of its operating profit. This was helped by €7.9m from its Australian business Sportsbet.
Profits also rose strongly in its UK retail business, up six-fold to €3m as it opened another 14 betting shops to bring its total to 115. 43% of Paddy Power profits now come from UK customers, compared with 39% from Ireland.
But profits from Irish betting shops dropped 23% to €9m as the amount Paddy Power took in bets increased only marginally. The group estimates that 155 shops in Ireland have been closed across the industry over the last two years.
On the prospects of a tax on online and telephone betting, Paddy Power said it did not have an issue paying betting tax on Irish internet betting. 'Our issue is the likelihood that such a betting tax will in practice be difficult to enforce against foreign operators, thereby giving them a competitive advantage and creating in effect a tax on Irish 'smart economy' jobs,' it said.
Paddy Power shares closed 2.5% higher at €26.66 in Dublin this evening.
