Paddy Power and Betfair owner Flutter has said it has not yet seen a slowdown in gambling despite the cost of living crisis.

The group told investors on Friday that it had continued to increase its reach in the US, where it owns FanDuel, in first six months of 2022, Sports Betting but performance in the UK was hit by the introduction of safer gambling initiatives.

Revenues in the UK fell 4 per cent to £1.09billion, also reflecting  a slowdown in player engagement compared with last year, Sports betting when people spent more time gambling during lockdown. 

Flutter, which owns Paddy Power and Betfair in the UK, said performance in Britain  was hit by the introduction of safer gambling initiatives

However at a group level, it reported an 9 per cent rise in first-half adjusted revenue to £3.