Flutter Entertainment, the owner of PaddyPower Betfair and SkyBet, said revenues jumped by more than a fifth during lockdown despite the widespread cancellation of sports fixtures.

The Dublin-based group said on Thursday that a move by customers to play online casino and poker games during lockdown had “more than offset” the lost revenue from the closure of its betting shops and the lack of sports fixtures.

The condensed run of football fixtures since the easing of coronavirus-related restrictions had boosted betting volumes, it added.

As a result it said it expected adjusted earnings, excluding its US business, to be between £1.2bn and £1.3bn — about 10 per cent ahead of consensus forecasts.

Revenue in the six months to the end of June increased 22 per cent to £2.4bn on a like-for-like basis accounting for its acquisition of Stars Group in a £10bn deal that completed in May.

Not including the comparative figures for Stars Group, the group’s revenue jumped 49 per cent to £1.5bn, while earnings, adjusted for £194m in integration costs, were up 59 per cent to £342m.

Despite a flurry of profit warnings early in the crisis, gambling groups have since reported a spike in punters switching to online betting while stuck at home during the pandemic.

Flutter said it had also benefited from its significant share of the Australian gambling market where horseracing — a higher margin sport for bookmakers — continued behind closed doors.

However, it warned that despite the increased betting volumes resulting from an intense run of sports matches since tournaments had been allowed to restart and a continuation of customers playing online, the outlook remained “highly uncertain”.

The group cited potential for future disruption from the virus as well as increased regulation in several of the markets it operates in.

Peter Jackson, Flutter’s chief executive, said the group’s performance had “exceeded expectations”.