US Edition 
Paddy Power profits boost from punters using online app
More than 300,000 punters have placed a bet using Paddy Power's smart phone 'app' or application, helping the company shrug off the tricky consumer economy which has caused people to bet less.
Paddy Power said that 81pc of its operating profits now came from its online operations, with amounts staked by its customers on its website shooting up by 43pc to €771m (£681m) in the first half of the year.
It estimated that of the 833,000 online customers it had, at least 300,000 were betting via a mobile phone or tablet computer.
Patrick Kennedy, the chief executive, said: "We have 2pc of the mature UK retail market, but 30pc of the tomorrow's fast growing mobile and tablet market. We've invested heavily to make sure we do."
The company's focus on its website helped it gain many more customers and post a strong set of half year results, despite punters betting smaller amounts on sporting events and the bookmaker being hit by a string of favourites winning at Ascot, Cheltenham and Rory McIlroy winning the US Open. It was also hit by comparisons with last year, which was boosted by the football World Cup.
The average stake per customer fell by 7pc to €15.33 online, and by 1pc at its UK shops to €15.59. "Our stake per customers is an indication of consumer confidence, so with a 1pc fall arguably customers are cutting their cloth," said Mr Kennedy.
However, he insisted the number of new customers more than offset the "tough" economic conditions. Novelty bets – such as the name of Beyonce's new baby being called Lay-Z (250-1) and a pre-Christmas exit for Arsene Wenger (15-8) – have helped win new customers.
In total, amounts staked by customers jumped 17pc to €2.23bn, with pre-tax profit increasing by 8pc to €56.8m. The dividend rose 20pc to 30 cents and the shares fell 90 cents to €34.60.