New National Lottery operator Allwyn said punters are still placing bets despite the rising cost of living, as revenue climbed 50 per cent in the first half of the year. 

The Czech gambling firm, owned by billionaire Karel Komarek, said that the squeeze on consumers was having little impact on betting. 

The group reported net gaming revenue of £939million in the six months to June, up from £617million a year earlier. 

© Provided by This Is Money High roller: Billionaire Karel Komarek (pictured with his wife Stepanka), owns National Lottery operator Allwyn

Profit jumped 45 per cent, from £321million to £464million. 

Allwyn, however, remains tangled in a legal battle with Camelot, who it hopes to replace as the National Lottery operator in 2024 if the legal wrangle is dealt with. 

Camelot is appealing a High Court decision allowing Allwyn to run the game after the Gambling Commission chose it as its preferred bidder in March. 

A hearing is scheduled for September.