ONLINE bookmaker Betfair said Euro 2012 is set to attract record levels of trade for a single event after punters bet more than £1bn on the football championship.

Betfair, whose exchange allows punters to set their own odds against one another, said £183m was matched on England, helped by former Tottenham boss Harry Redknapp giving tips to the customers in his role as brand ambassador.

Betfair said the Euros, as well as record numbers of bets on Black Caviar at Royal Ascot, helped boost core revenues by 18% in the past eight weeks.

The group toasted a 17% hike in underlying profits to £85.7m in the year to April 30, helped by record volumes of bets on most major sporting fixtures, including last year’s Champions League final, the Cheltenham Festival, and last year’s Wimbledon.

The high levels of betting on the Euros means the event is set to become Betfair’s biggest ever in terms of the amount of money gambled.

The figures come after rival Ladbrokes revealed that its digital arm failed to get the normal patriotic boost from people betting on England.

Betfair also enjoyed its best ever Australian Open Tennis Championship during its final quarter, with almost £50m of bets being placed on the longest final in history between Rafael Nadal and Novak Djokovic.

And some £50m was staked on the Champions League semi-final between Barcelona and Chelsea.