Trump victory and punter wins on football cost Paddy Power Betfair £40m

Bookmaker Paddy Power Betfair said Donald Trump's unexpected US election victory and a raft of "customer friendly" football games cost it £40m ($50m) in the final quarter of the year. The bookmaker said Trump sweeping into the White House cost the group £5m.

Favourites winning football matches in December also hit its bottom line. During this period Chelsea, Manchester United, Tottenham Hotspur, Liverpool, Manchester City and Celtic all enjoyed strong runs.

The firm said: "We estimate that the impact on group revenue from the customer friendly results, before any benefit from the re-cycling of winnings, was approximately £40m in the quarter."

It added that group full-year earnings are now expected to come in at the mid-point of its previously given range of £390m to £405m.

Paddy Power Betfair said total revenue amounted to £388m in the three months to the end of the year, which was flat compared to a year ago accounting for currency fluctuations. It added that annual sales hit £1.6bn, up 11% year-on-year.

Earlier this month rival William Hill also said punters winning £20m in December on football and horseracing results meant its full-year estimates would come in at the bottom end of expectations.