It wasn't just the good citizens of Humberside who were jumping for joy when Geovanni, a diminutive Brazilian, struck his Goal-of-the-Month-winning 25-yarder that inspired Hull City to their surprise victory over Arsenal in North London last month. Hull's win and the adjustment of gamblers to the smoking ban helped William Hill to report a 9 per cent increase in gross profit in the 15 weeks to the middle of October.

Moreover, it seems that Hull are not the only ones expecting their form to continue. The betting chain's shares rose 14 per cent as Ralph Topping, the chief executive, reassured investors that its earnings could hold up in a recession. “We see little evidence that our business has been impacted by the economic downturn,” he said, adding that the company saw no reason to disagree with profit expectations for the year — analysts had forecast a pre-tax profit of £198 million.

The bookmaker reckons that it would have lost £2 million had Arsenal beaten Hull on September 27. Gamblers had believed that betting against Hull, now third in the Premier League, was a sure way to make money.

William Hill's improvement was helped by an easy comparison with a weak performance a year ago. Gross profit on slot machines, which had been particularly hit by the smoking ban, were ahead by 14 per cent.

Under a tie-up with Playtech, the gaming software group, the bookmaker will take software for its online poker and casino games. Playtech is also paying $250 million (£150 million) to buy an affiliate gambling site to inject into an enlarged William Hill Online; in return it receives a 29 per cent stake in the venture. William Hill's shares rose 23p to close at 189p.

Separately, Rank, William Hill's rival, said that Martin Belsham, the managing director of Blue Square, the group's interactive gaming business, is to leave. He will be replaced on an interim basis by Ian Burke, the Rank group chief executive.

Times Recommends

• Toyota recalls 437,000 cars including Lexus
• Myners says bonuses are bleeding pension funds
• Japanese company faked safety reports on seats