Bookmaker, William Hill, has announced a 27 per cent rise in core first-half profits, despite suffering from the double whammy of a record number of successful favourites at the Cheltenham Festival and a well-backed Grand National winner.

Pre-tax profits, before finance charges and exceptionals, were raised from £80.1m to £101.9m, from turnover at £2.74bn.

The fastest growth area within the group’s business is from the online betting trade, which was up 42 per cent at £16m.

There has also been an 18 per cent increase in the gross win – the total left after payouts to winning customers – to £324m for the half year.

Since floating in June 2002 at 225p, William Hill shares have risen a third to 320.5p while interim dividends increased by 21 per cent to 35p.

The group has also announced it is anticipating a surge in football-related betting following David Beckham’s move to Real Madrid and revitalised interest in the Premiership following new Chelsea owner Roman Abramovich’s extended player spending spree.

Horseracing now makes up two-fifths of the group’s business, from three-fifths three years ago. Rugby-related betting is also expected to rise during October’s rugby World Cup in Australia.