Cheltenham Festival Betting Guide - 2023 Edition

Updated on 30th January 2023

One of the UK’s most auspicious horse racing events is going to take place soon. Composed of 4 days of horse racing events, the festival is growing increasingly popular. Our Cheltenham Festival betting guide can help you to make the most of your time at this globally-loved event.

Before you place any bets, take a look at the horses shown in the Parade Ring. While there are many horses for you to choose from, looking at the horses can help you. Which horse looks like it’s ready to race and win?

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Table of Contents

Placing A Bet

There are 3 ways for you to place a bet. Placing a bet can add to the excitement and it may even be quite lucrative for you.

 1 – Tote Betting

This type of betting involves pooling everyone’s money together and sharing it out among the winners. If you’re one of the lucky few to pick a winning horse you’ll receive a larger percentage of the pool money. If you’re one of the many to pick a winning horse, you’ll receive a lower percentage.

The minimum amount you can bet is £2, other bookmakers may have a higher minimum. Make sure you’re aware of how much the minimum bet is so you can work out how much to spend and where.

2 – Betting shops

When you spend time at the Cheltenham Festival, it’s likely that you will walk past some on-site betting shops. Betting shops such as these tend to work in the same way as the betting shops you’ll find on the high street. In other words, you’ll have the chance to bet on just about anything.

3 – The bookmakers

You’ll no doubt see many bookmakers with signs that indicate how much their minimum bets are. You’ll also find odds listed for the next few races. All that you have to do is look for your horse’s number, choose a stake to put down, and which bet you’d like to place.

For example, if you want to opt for a straight win, you could say “£10 on number 4, please”. If you wanted to bet each way, you could ask for “£10 each way on number 4, please”.

When you place a bet each way you will place 2 bets on number 4. You’ll place £10 on it winning and £10 on it being placed in the race. If number 4 were to finish first you would receive a payout on both of your bets.

Understanding The Terminology

Here’s a short list and explanation of the terminology you may come across:

  • Accumulator – This is a type of bet that involves 2 or more selections in a number of different races. The winnings from 1 race will be placed on the next.

  • Allowance – An allowance is the weight concession that the horse in question is given. This allowance compensates for the rider’s inexperience. The greener the horse, the less weight it will carry.

  • Also ran – This phrase refers to any horse that has not finished in 1st, 2nd, 3rd, or 4th place in an event.

  • Bar – This term refers to the fact that if a horse is not listed for a race they have longer odds or they’re at bar price.

  • Each-way – A bet such as this is in 2 equal parts: 1 bet backs the house to win and the other backs it to finish in the top 3.

  • Even money or evens – Betting odds such as these involve your stake being equal to your winnings. For example, £10 at evens will win you another £10.

  • Form – This is a horses’ record.

If You Win…

If your horse wins, don’t immediately rush to collect your winnings. You will have to wait for the Jockeys to be weighed in. Every winning Jockey will be weighed along with their saddle and kit. Only then will the result of the race be made official and your winnings can be collected.

Your Racecard Explained

When you’re given a racecard you will see it is full of letters and characters. There might not be an explanation as to what any of these letters and characters mean. Below, you will find an explanation about which section they’re found in and what each of the letters and characters means:

Form

This section shows you how to see the horse’s past performance, including its recent finishing positions.

C: The horse has previously won at this course

D: The horse has previously won at this distance

CD: The horse has previously won at this course and distance

BF: The horse was a beaten favourite

More information on the form:

: New racing season

/ : Missed racing season

P: Was pulled-up and did not finish the race

F: The horse fell

U: The rider was unseated

R: The horse refused to race

CO: The horse was forced out by a loose horse

B: The horse was brought down

S: The horse slipped

R: The horse took the wrong course or it ran around a jump

D: Disqualified

Bold form figures: The horse’s performance in flat (all-weather) or jump (point to point) races.

.

Expert view

This refers to the rating the experts give the horse's chances.

BHA rating – The higher the number is, the better the horse is.

TFR – The Timeform view and rating, representing the position the horse finished in recent races.

Horse’s trainer and the location

The summary given by course trainers before every race.

Jockey

Keep an eye out for Jockeys that are having a good day.

Other useful details

At the top of the card you will see the following displayed:

  • Cap and shirt: This shows you the owner’s colours that are worn by the Jockey.
  • A number: The saddle cloth number
  • The horse’s name: This is listed to the right of the saddle number.
  • The birthplace of the horse: This is typically listed if the horse was born outside of Great Britain.
  • How many days it has been since the horse last ran.
  • The horse’s form: “C” = The horse has previously won at this course. “D” = The horse has previously won at this distance. “CD” =The horse has previously won at this course and distance. BF = The horse was a beaten favourite.
  • The horse’s age.
  • The Jockey’s weight in stone and pounds.
  • The horse’s breeding: The Sire (father) and Dam (mother).
  • The horse’s owner.
  • The horse’s breeder(s)
  • The TFR rating: This represents the position the horse finished in recent races.
  • The BHA rating: The higher the number is, the better the horse is.

 

Betting Tips

If you are not used to betting on horses, you may appreciate a few betting tips. These tips could potentially help you to enjoy your Cheltenham festival betting on a whole new level.

Spread your bets

Try not to spend all of your money on a few bets. There are many events for you to bet on so many sure you spread your bets. Ideally, you will still have enough money left so you can place a bet on the very last race of the festival.

Be aware of the competition

Bookmakers will do what they can to attract punters. While each-way places and Best Odds Guaranteed are quite common, there are other offers as well. Try not to be seduced by the first bonuses you come across.

Consider backing more than one runner

Always consider backing more than one runner. Split your stake in a few races. In the past, winners have had odds of 50/1 and 66/1. Therefore, it makes sense to back at least 2 runners in the Cheltenham races.

Remember the preliminaries

Be aware of how each horse is handling itself. Do they look ok in the preliminaries? A few horses might spoil their chances before the race begins. Keep this in mind when you’re about to place a bet.

Take a note of the race trends

In recent years, hurdlers who have had no more than 4 runs have dominated. Understanding trends such as this can help you to pick a more likely winner.

Always back your opinion

If there is a horse that you like the look of, stick with it. Try not to overthink anything. If you feel inclined to back a specific horse, back them. One of the most exciting things about horse betting is that those lesser-known horses can occasionally win.

Cheltenham Festival Dates

2023’s Cheltenham Festival will run from 14-17 March. Last year saw the welcome return of spectators to the famous venue and that resulted in record crowds enjoying the prestigious event. In 2023 you can expect an even bigger turnout. Make sure you save the Cheltenham Festival dates in your diary. 

Located at Prestbury Park in Cheltenham, Gloucester the Cheltenham Festival is considered to be one of the best in the world. Centred around the Queen Mother Champion Chase, the Cheltenham Gold Cup, the Stayers Hurdle, and the Champion Hurdle, this is an event not to be missed.

The Importance of Cheltenham Odds

The horse racing calendar is full of important events. However, the Cheltenham Festival is considered to be the most important. Huge events are hosted every day and they build up anticipation for the Gold Cup. 

The Cheltenham Festival welcomes the very best horses and Jockeys from around the UK and Ireland. Each of the races is quite important in its own right, and having them all take place within a 4-day festival is a punter’s dream. 

With around 65,000 people attending the Cheltenham Festival, it is undoubtedly a large event. Odds for all of the races are displayed throughout the year with the focus being on those 4 important days in March. Horse racing enthusiasts may find that odds for the 2023 Gold Cup are available even before this year’s event has taken place.

Cheltenham Betting Odds

Every year, a large amount of money is spent at the Cheltenham Festival. So many Cheltenham betting odds surface and encourage people to place their bets. But do the odds offer value for money? This is not always clear. 

In the last 20 years, 9 favourites have won the Gold Cups. As good as this seems, it appears that the favourites are now less likely to win. 6 of the 9 wins occurred between 2002 and 2011. 

In the last 10 years, however, only 4 Gold Cups have been won by the favourites, though in 2022, this did indeed prove to be the case, with A Plus Tard coming in as the  3/1 winner.

When it comes to the Championship Hurdle, the opposite has happened. Again, 9 favourites have won in the last 20 races. However, only 3 of these wins took place between 2002 and 2011. In the last 10 years, 6 favourites have won. 2022’s winner was Honeysuckle who was also successful in 2021. 

Cheltenham Gold Cup odds

The Cheltenham Festival’s highlight arrives on the 4th day. The Gold Cup attracts a huge amount of attention. The race that is now over 3 ¼ miles long includes 22 fences and is open to horses aged 5+. The Gold Cup is considered to be the most prestigious National Hunt event. The winner of this event will win more than £350,000 from a prize fund of approximately £625,000. 

Cheltenham Gold Cup betting is big business and many bookmakers have odds available throughout the year. 

Cheltenham Festival Best odds

Below, you can find the Cheltenham races list of horses as well as a list of the races and the best odds. The table can help you to decide which horses you would like to back.

Festival Race

Popular Horses

The Best Odds

Albert Bartlett Novices Hurdle

Embassy Gardens

6/1

Arkle Challenge Trophy

Appreciate

13/2

Ballymore Novices Hurdle

Champ Kiely

7/1

Boodles Juvenile Handicap Hurdle

Comfort Zone

10/1

Brown Advisory Novices Chase

The Real Whacker

6/1

Champion Hurdle

Constitution Hill

1/3

Cheltenham Gold Cup

Noble Yeats8/1

Coral Cup Handicap Hurdle

Gaelic Warrior7/1

County Hurdle

Filey Bay10/1

Cross Country Chase

Galvin

6/1

Dawn Run Mares Novices Hurdle

Magical Zoe

10/1

Festival Open Hunters Chase

Billaway

9/1

Kim Muir Challenge Cup

Mr Incredible

8/1

Grand Annual Chase

Banbridge

14/1

JCB Triumph Cup

Scriptwriter

16/1

Mares Chase

Impervious

15/8

Martin Pipe Conditional Jockeys Handicap Hurdle

Langer Dan

8/1

Mares Hurdle

Echoes in the Rain

10/1

National Hunt Chase

Chemical Energy

9/2

Plate Handicap Chase

Stage Star

10/1

Pertemps Network Final Handicap Hurdle

Maxxum

4/1

QueenMother Champion Race

Edwardstone

5/2

Ryanair Chase

Blue Lord

8/1

SkyBet Supreme Novices Hurdle

Facile Vega

10/11

Stayers Hurdle

Home By the Lee

9/2

Turners Novices Chase

Sir Gerhard

8/1

Ultima Handicap Chase

Indigo Breeze

14/1

Weatherbys Champion Bumper

Queens Gamble

8/1

Types of Cheltenham Festival Offers

Every year, many offers are available in the run-up to the Cheltenham Festival, and while it’s taking place. There is a range of bets available and some of the most popular can be found below.

Ante post offers

This type of offer gives punters the chance to lock-in any good value bets early on. A bet such as this essentially involves placing a bet on a future race. Many such bets tend to be available all year round.

Non-runner no bet

Also known as “NRNB”, this type of bet is ideal if punters wish to get their bets in as early as possible. An NRNB bet means the punter will receive their bet back if the horse does not run. Cheltenham non runner no bet offers can potentially save punters quite a bit of money.

Money-back specials

An offer such as this is always worth looking out for, especially if the race in question contains a favourite. Money-back specials typically offer punters their bet back if their horse loses and there’s a specific outcome. This outcome can, for example, include your horse narrowly missing a win.

Enhanced odds offers

Enhanced odds boost a punter’s profits and tend to be offered by the bigger bookmakers.

Free bets offers

Offers such as this tend to be the most common type. Typically offered to a new customer, a free bets offer can include free stake money, for example. Alternatively, punters could be offered 100% deposit matches.

Tote betting

This type of betting involves pooling the money together and sharing it out among the winners. If you’re one of the lucky few to pick a winning horse you’ll receive a larger percentage of the pool money. If you’re one of the many to pick a winning horse, you’ll receive a lower percentage.

The minimum amount you can bet is £2, other bookmakers may have a higher minimum. Make sure you’re aware of how much the minimum bet is so you can work out how much to spend and where.

Cheltenham Betting Markets

The closer the Cheltenham Festival is, the more betting markets they will be. Odds can be found on every race and bookmakers can offer a range of betting markets to every punter making online horse betting even more exciting.

Each Way

Betting on “each way” is one of the simplest ways to place a bet. Choose any horse to go “each way” and you will be placing a bet on the horse winning and placing. The exact number of places in the race pays out depending on the bookmaker, the type of race, and how many horses are running.

In some cases, bookmakers could offer an enhanced place term. With terms such as this, horses that place 5th or even 6th at the Cheltenham racecourse will be counted. However, the horses that place in the top 3 are usually counted.

Forecast/Tricast betting

With this type of bet, punters are asked to predict which horses will come 1st or 2nd. On some occasions, there may be a chance to predict which horse will place 3rd. When a punter predicts 1st and 2nd places, this is known as Forecast Betting. Add a 3rd place and it’s known as Tricast Betting.

Punters can also add more than a few horses to their combination. For example, 3 horses in a combined Tricast bet makes up 6 total bets as there are 6 possible outcomes.

Match betting

When Match betting takes place, 2 horses in the same race compete against each other. Punters will bet on which horse they think will come 1st out of the 2. So, if your horse finishes in 4th place and the other in 6th, you win the bet.

Placepot and Scoop6 pool betting

A Placepot involves a punter predicting which horse will place in the 1st 6 races. The Scoop6 bet involves predicting the 6 winners. A type of Tote bet, all of the money goes into a pool. The winners each receive a payout. The fewer winners there are, the larger the payout is.

Top festival trainer betting markets

A bet such as this tends to have the largest number of winners. Novelty bets such as this can be lucrative if a punter’s chosen trainer has the most winners over the course of the Cheltenham Festival.

Top festival jockey betting markets

Similar to the top trainer bets, the Jockey who a punter thinks will win the most races is picked.

GB vs Ireland Prestbury Cup winners

This bet simply involves choosing which nation is likely to win the most over the course of the festival.

Win any race

Trainers can enter multiple races as it’s not always easy working out which ones they should concentrate on. While it can cause problems as far as Ante post betting is concerned, there can be special odds given. These odds are typically given on any race the horse competes in. This can potentially make choosing a horse or 2 so much easier.

Finding the Best Odds

It can often be hard to find the best odds and the best way to bet at Cheltenham. Making the most of the odds is a bit of an art form. The best odds can depend on a few factors such as the type of horse you like to back and your approach to betting.

To find the best odds, watch the markets develop. Watch what happens the night before the Cheltenham Festival and through to comparing any on-track betting.

If you are familiar with some or all of the horses that are racing, you’ll have a better idea about the odds given. However, you should also remember that it’s not the horses that control the odds, it’s the bookmakers. For example, Sky Bet Cheltenham Festival odds for the Novices Hurdle may be completely different from those set by another bookmaker. Bear this in mind when you’re placing your bets.

Changing odds

If a group of bookmakers was to offer the same price they may not attract as many punters. Try to work out when the odds might change. The odds are likely to change when something in the market changes. Your 6/1 bet might change to a 12/8 favourite on the day of the Cheltenham Festival.

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Our The Pools review will show you what you need to know and what the sportsbook has to offer. We will be taking a look at the site’s security, customer service, range of sports, bonuses, and more. We do this so that you have more of an idea about The Pools and how good it is.

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New customers & 18+ only. Min deposit £10. A qualifying bet is a ‘real money’ stake of at least £10. Min odds 1/2 (1.50). Free Bets are credited upon qualifying bet settlement and expire after 7 days. Free Bet stakes are not included in returns. Additional T&Cs apply. Please gamble responsibly

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888sport offers a comprehensive list of betting markets and promotions on a daily basis. Comfortably sitting within most people’s lists of the best betting sites on the market, this brand is one of the more popular firms around, and in our 888sport review, we’ve delved a little bit deeper into exactly what they offer.

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Given that it hasn't stood still and carry most of the features we’d expect, Betfred is very much within the best betting sites in the game and now we’ve taken an in-depth look at everything they have to offer online.

How To Use Cheltenham Free Bets

Many online bookmakers offer Cheltenham free bets. Different bookmakers offer different ways to use their free bets. In addition to this, there may also be rules surrounding how any money won can be withdrawn. Some bets may even be risk-free. In other words, if your horse loses, you could get your free bet returned to you.

What you should know about free bets

No returns

Free bet stakes don’t tend to be included in any returns. You should, therefore, not expect to win your stake back should your horse place. You will only receive the winnings. 

Minimum odds

Most free bets come with minimum odds. These odds can vary from bookmaker to bookmaker. So, one site may have minimum odds of 5/1, whereas another may have 10/1.

Rollover requirement

Most free bets come with minimum odds. These odds can vary from bookmaker to bookmaker. So, one site may have minimum odds of 5/1, whereas another may have 10/1.

Bet deposit bonus

A bet deposit bonus often ensures that a punter’s free bet bonus needs to be wagered a particular number of times before winnings are withdrawn.

Free bet expiry

Almost all free bets have an expiry date. While the expiry date can vary, they tend to expire within 7 to 28 days of the bet being awarded.

Bet type restrictions

Free bets usually come with a restriction. For example, players might only be able to use them as a single bet.

Betting product restrictions

Free bets are typically restricted to being used in a specific area. For example, a free bet offered by a sportsbook can only be used at the sportsbook rather than an inline casino.

When looking for the best Cheltenham free bet offers, be aware of the restrictions and requirements before you place a bet.

Cheltenham 2023 Race Schedule

With 28 races taking place over 4 days, there really is something for everyone. 

The race schedule can be found below, it includes the time and type of races as well as the Cheltenham horse racing 2022 results.

Time

Day 1 – Tuesday 14th March (Champion Day Races)

Type

2022 Winner

13:30

Supreme Novices Hurdle Race

Hurdle

Constitution Hill 9/4

14:10

Arkle Challenge Trophy Steeple Chase

Chase

Edwardstone 5/2

14:50

Ultima Handicap Steeple Chase

Chase

Corach Rambler 10/1

15:30

Champion Hurdle Challenge Trophy

Hurdle

Honeysuckle 8/11

16:10

The Mares Hurdle Race

Hurdle

Marie’s Rock 18/11

16:50

Boodles Juvenile Handicap Hurdle

Hurdle

Brazil 10/1

17:30

National Hunt Chase Challenge Cup

Chase

Stattler 2/1

Time

Day 2 – Wednesday 15th March

(Ladies Day Races)

Type

2022 Winner

13:30

Ballymore Novices Hurdle Race

Hurdle

Sir Gerhard 8/11

14:10

Festival Novices Chase

Chase

L’Homme Presse 9/4

14:50

Coral Cup

Hurdle

Commander of Fleet 50/1

15:30

Queen Mother Champion Steeplechase

Chase

Energumene 5/2

16:10

Cross Country Chase

Chase

Delta Work 5/2

16:50

Grand Annual Handicap Chase

Chase

Global Citizen 28/1

17:30

Champion Bumper

Bumper

Facile Vega 15/8 

Time

Day 3 – Thursday 16th March

(St. Patrick’s Day Races)

Type

2022 Winner

13:30

Marsh Novices Race

Chase

Bob Olinger 6/5

14:10

Pertemps Final

Hurdle

Third Wind 25/1

14:50

Ryanair Steeplechase

Chase

Allaho 4/7

15:30

Stayers Hurdle

Hurdle

Flooring Porter 4/1

16:10

Festival Stable Plate

Chase

Coole Cody 22/1

16:50

Mares Novices Hurdle

Hurdle

Love Envoi 15/2

17:30

Kim Muir Challenge Cup

Chase

Chambard 40/1

Time

Day 4 – Friday 18th March

(Gold Cup Day Races)

Type

2021 Winner

13:30

JCB Triumph Hurdle

Hurdle

Vauban 6/4

14:10

County Handicap Hurdle Race

Hurdle

State Man 11/4

14:50

Albert Bartlett Novices Hurdle Race

Hurdle

The Nice Guy 18/1

15:30

Cheltenham Gold Cup

Chase

A Plus Tard 3/1

16:10

Festival Hunters Chase

Chase

Billaway 13/8

16:50

Mrs Paddy Power Mares Chase

Chase

Elimay 9/4

17:30

Martin Pipe Handicap Hurdle

Chase

Banbridge 12/1

Please note, the above Cheltenham horse racing fixtures are subject to change at any time.

More information about the horses and Jockeys can be found on your Cheltenham race card. Race cards are typically available online and at the Cheltenham Festival.

Ante-Post Tips

Ante-posts are bets that are placed even before the race’s runners are announced. This may seem an impossible task, however, if you’re armed with the best horse racing tips it could be easier.

Cheltenham Contenders

Champion Hurdle

The in form horse to back in this year’s Champion Hurdle will be State Man, who has won his previous five races and is a previous winner at the festival having won the County Handicap Hurdle in 2022.
Constitution Hill is the favourite but his odds are getting so short as to make a bet almost worthless, he is currently 1/3 to win.

Queen Mother Champion Chase

Nine-year-old Edwardstone may be where the smart money is. He’s placed at second favourite to Energumene, who won the race in 2022. Blue Lord is an alternative option and as a Willie Mullins trained horse, is always going to challenge.

He is 5/1 and won at Leopardstown in December and could provide a real challenge to the leading horses in the betting.


Stayers Hurdle

In 2023 the big favourite for the Stayers Hurdle is Teahupoo, who is placed at around 5/2 at present with Home By The Lee in close attendance. The latter has secured victories in the Lismullen Hurdle and the Christmas Hurdle and is a horse in form.

Flooring Porter, who has won the race in both 2021 and 2022, but isn’t in the best of form of late, only managing fourth-place finishes for much of the season. He can be backed at a very tempting 10/1, and given his form in this race, that may well be worth pursuing.


The Gold Cup

The big race at the Cheltenham Festival rarely fails to excite and a ton of money will be placed on favourite Galopin Des Champs, who is currently sat on 6/4. The seven-year-old did not take part in the Cheltenham Trials day while a number of others did make the most of the event and Noble Yeats, at 7/1 may be a worthy alternative to back.

A Plus Tard, who won last year, is a decent outside shot at 8/1 and if you want to strike it rich, 100/1 on Galvin might be a bet worth considering.

FAQ

The 2023 Cheltenham Festival begins at 13:30 on Tuesday, 14th March and it ends on Friday 17th March.

The Cheltenham Festival runs for 4 days with a total of 28 races taking place.

To place a bet, open an account with an online bookmaker. Take a look at the horse racing section and look for the latest odds. Choose a horse or 2 that you would like to bet on, and select a stake. Make sure you confirm your selection.

This depends on the bookmaker you use. However, some bets can be as low as a few pence. You should be able to find details of the minimum bet fairly easily.

At the time of writing, the following bookmakers were offering non-runner no bet Cheltenham betting offers: bet365, BetVictor, Paddy Power, betfair, betway and Parimatch.

Please note, this list is subject to change.

 

The Cheltenham Festival will be shown on ITV.

The Cheltenham Gold Cup starts at 15:05 on Friday 18th March.

There are a total of 28 races taking place over 4 days.

It costs approximately £7.40 for a pint of cider or lager.

The very first Cheltenham Festival took place in 1860 when Market Harborough held its 1st National Hunt Chase. Originally known as the “Grand National Hunt Meeting”, the “Meeting” was held at Warwick Racecourse.

There are many hotels in the area and booking in advance is essential. Below, you will find the list of some of the best hotels to stay in. Please note, the prices listed are for 1 person for 1 night, and were correct at the time of writing.

Hotel

Price

Distance From Race Course*

Tudor House Hotel

£346

6.5 miles

Royal George Hotel

£237

6.8 miles

Citrus Hotel

£605

1.7 miles

Premier Inn Quayside

£214

9.3 miles

Central Studios

£650

1.5 miles

*Approximate distance

Ladies are asked to wear a cocktail dress, and gentlemen are asked to wear a suit.