Cheltenham Festival Betting

The Cheltenham Festival is one of the biggest events on the British horse racing calendar. It takes place every March and comprises four days of racing, including the legendary Cheltenham Gold Cup.

In 2022, it was estimated that over £1 billion was bet on the races and that’s before we even take into account the many Cheltenham free bets offers that punters use each year.

In this review, you’ll find the best Cheltenham betting offers alongside information on the available bookmakers and where you can find the best Cheltenham tips and best odds ahead of the festival. 

Top 6 Cheltenham Betting Sites

Each year, the best UK bookmakers and Irish betting sites gear up for the festival with a variety of Cheltenham betting offers, many of which are great value for money.

These can include everything from Cheltenham free bets to offers that will return your stake if your first bet is a losing one.

There are even some enhanced bets where the best odds on a horse to win are boosted significantly. Many of these Cheltenham betting offers are for new customers who sign up to the betting site, however, some enhanced odds offers are also available for existing customers.

It’s important to read the terms and conditions for these Cheltenham betting sites as they may include some betting requirements or payment restrictions before you can cash out.

➡️ bet365 For Cheltenham Betting

The biggest bookmaker in the world is bet365, so it should come as no surprise that the company has some of the best racing coverage and best odds in the market. It’s also running a great welcome offer for new racing fans ahead of the Cheltenham Festival. All you need to do is open a betting account and place £10 or more in bets to receive £50 in free bets.

➡️ William Hill For Cheltenham Betting

Following a takeover by Caesars Entertainment, the UK division of William Hill was acquired by 888 Holdings for $1.95 billion.

Since then, the brand has continued to offer a wide range of racing odds and build on the solid reputation it has garnered since it first launched way back in 1934.

The William Hill offer for the upcoming Cheltenham Festival is a new user welcome offer of £30 in free bets once you place a stake of £10 or more on any race. 

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18+. Play Safe. From 00:01 on 17.10.2022. 3x £10 free bets. Free bets expire after 30 days. New customers signing up through mobile or tablet device only. Minimum £10 stake on odds of 1/2 (1.5) or greater on sportsbook (excluding Virtual markets). Further terms apply. #ad

➡️ Tote For Cheltenham Betting

The original pools betting company, Tote was first founded way back in 1928 making it almost 100 years old. While you may not get the best odds here, Tote is synonymous with racing and is one of the most trusted brands in the industry. Tote has a physical presence on 60 racecourses throughout the UK.

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New customers online only. £/€‎5 min stake. Receive £/€‎20 Tote Credit when first bet settles. £/€‎10 redeemable against racing bets and £/€‎10 redeemable against racing bets excl. Win/Place. 7 day expiry. Qualifying bet is the first racing pool bet added to the betslip. 18+. Full T&Cs apply. http://BeGambleaware.org .

➡️ Paddy Power For Cheltenham Betting

Perhaps one of the most famous betting brands in the world, Paddy Power is well-known for its great high-value offers for both horse racing and other sporting events. Paddy Power is running a few offers related to the Cheltenham Festival.

The first Paddy Power Cheltenham Betting offer is £40 in free bet credits once you place a bet of £10 or more on any horse race. The bookmaker has also launched a non-runner offer that returns all stakes if the horse you back is a non-runner. 

➡️ BetFair Cheltenham Betting Site

Betfair is a UK betting brand that launched in 2000 and became the world’s largest betting exchange. It has since merged with Paddy Power making it one of the biggest companies in the global gambling industry. Like Bet365, Betfair is a relative newcomer to the scene but is considered one of the most reputable bookmakers in the business.

Cheltenham Betting Offer Types

☑️ Cheltenham Free Bets

Cheltenham free bets are, without a doubt, the most popular betting offer available in the lead up to the four day festival. However, not all free bet offers are the same as each offer will have specific terms and conditions.

These terms can make a huge difference in the value that is on offer. For example, there are often minimum odds for a free bet which means that you may not be able to bet on the horse of your choice.

Free bet stakes will often have a rollover requirement or a wagering requirement attached. This means that you cannot withdraw any winnings from the free bet until you have bet a multiple of the free bet in real cash or your winnings.

While there are some betting and payment restrictions on Cheltenham free bets, that doesn’t mean that they aren’t good value for money. Just check those terms and compare the offers as one with a smaller free bet amount may end up being better value due to a lower rollover requirement.

☑️ Cheltenham Ante Post Offers

Cheltenham ante post betting offers are another type of offer that has the potential to provide you with a significant boost on your winnings. However, these are long-term bets that are placed well in advance of the event.

The reason that they are such good value is that the odds on a horse that is 25/1 for example, might drop down considerably as the race day approaches and the horse has a decent run of form.

As with Cheltenham free bet offers, it’s always a good idea to check the terms and conditions of ante post betting offers before taking advantage of them.

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18+. Play Safe. From 00:01 on 17.10.2022. 3x £10 free bets. Free bets expire after 30 days. New customers signing up through mobile or tablet device only. Minimum £10 stake on odds of 1/2 (1.5) or greater on sportsbook (excluding Virtual markets). Further terms apply. #ad

☑️ Cheltenham Money Back

Cheltenham money back offers will see a bookmaker return a stake if a horse fails to place in the top three. This is a very simple offer that is dependent on the bookmaker and is usually offered on a specific race for horses at minimum odds or greater.

☑️ Cheltenham Tote Betting

Cheltenham Tote betting involves betting into a pool. The more action the race attracts, the better the prize pool and the bigger your potential winnings. There is no fixed odds return on your wager. Instead, the odds are determined by the pool.

☑️ Cheltenham Non Runner No Betting g

Another very straightforward offer that many bookmakers are now running is the Cheltenham non runner refund. This offer sees your stake refunded if the horse you backed fails to run on race day.

How to Bet on the Cheltenham Festival

Below you’ll find some of the most common types of betting offered by Cheltenham Festival bookmakers.

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✔️ Win Bet:

A win bet is the simplest type of bet in horse racing. You simply select a horse to win the race. If the horse finishes in any other position, such as second or third, you lose the bet.

The amount you can win is based on the odds of the horse winning the race, with higher odds resulting in a larger payout. For example, if you place a £10 win bet on a horse with 5-1 odds and that horse wins, you would receive a payout of £50 (including your original £10 bet).

✔️ Each-Way Betting

Each-way betting is a type of bet where you can win money even if your chosen horse doesn't win the race. It involves placing two equal wagers: one on your chosen horse to win, and another on the same horse to place, which means to finish in the top three positions.

If your horse wins the race, both of your bets win and you receive a payout for both the win and the place portions of the bet.

If your horse places but doesn't win, you'll still receive a payout for the place portion of the bet, which is typically a fraction of the win odds, meaning a smaller payout than if your horse had won the race.

✔️ Exacta or Match Betting

Exacta betting or match betting is a bet where you choose two horses to finish the race in first and second place, in the exact order that you specify. This means that you must correctly predict which horse will come in first place and which horse will come in second place, in order to win the bet.

✔️ Trifecta or Tricast Betting

Trifecta betting is when you choose three horses to finish the race in first, second, and third place, in the exact order that you specify. This can be extremely challenging, but, as you can imagine, the odds are much greater and the potential payout is usually quite good.

✔️ Placepot betting

Placepot betting is hugely popular in the UK and Ireland and involves selecting one or more horses to place in each of the first six races of a particular horse racing event. Each of your horses must place in their respective races in order for you to win a share in the prize pool. This is a type of pool bet so the prize depends on the number of wagers placed.

✔️ Top Jockey Betting

Top jockey betting is a simple type of bet that is exactly what it sounds like. You choose which jockey you think will win the most races in a specific horse racing event, such as a race meet or over the course of a season. This bet focuses on the performance of the jockey, rather than the horses they are riding.

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Terms: New 18+ UK customers only. Register using the promo code CHELT40, deposit and place first bet of £10+ on Sports (cumulative Evens+) within 7 days of registration. First bet must be on Sports. £30 in Free Bets and £10 in Extra Spins (50x20p) credited within 10 hours of bet settlement. Free Bet stakes are not included in any returns. Bonuses have a 7-day expiry. Payment restrictions apply. SMS verification and/or Proof of I.D and address may be required. Full T&Cs apply.

✔️ Top Trainer Betting

This is much like top jockey betting but instead you are choosing the top trainer. This kind of bet usually requires an in-depth knowledge of racing and the various trainers and race meets.

How to Pick a Winner at Cheltenham Festival 2023

Picking a winner at Cheltenham can seem impossible, but our Cheltenham Festival betting tips should help you pick winners in the Graded races and in the handicaps.

• Follow Favorites In Grade 1s - Favorites have a strong win record of 44% in Grade 1s, increasing to 73% when considering placed favorites. Take caution with favorites in the Gold Cup betting though, and in the Champion Bumper, and longer hurdle races.

• Monitor Weather - Cheltenham is a turf course, so weather can move the Cheltenham Festival betting markets - not all horses run well on rain-softened ground. In fact, some Festival betting sites have odds on what the weather will be on Day One, and what the description of the going will be on Day One.

• Leading Players - Cheltenham is a unique occasion that some jockeys, and trainers never fail to live up to. The best betting sites for Cheltenham will have odds on who will be top trainer and jockey, and the best players to follow are trainers Willie Mullins and Gordon Elliott, and jockeys Davy Russell and Ruby Walsh. They have dominated the title races for the last decade, and show few signs of slowing.

• Course Form - Cheltenham is also a unique racecourse, with it’s tricky undulations not to every horse’s liking. Some take to it immediately and become course specialists - these horses tend to defy the odds regularly, as even if the race does not appear to suit, their affinity with the course wins out. Look out for horses with course form in the Cheltenham odds.

As we said, there are 28 races and four days of racing all priced up in the Cheltenham Festival betting, so it pays to formulate some kind of strategy in the build-up to ‘The Greatest Show on Turf’.

Take heed of the above betting tips, and look for value in the Cheltenham odds by pairing favorites with long shots in exactas and trifectas, and consider other multiple bet options to keep your Cheltenham bets interesting throughout the week.

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Cheltenham Festival 2023 Quick Facts

The Cheltenham Festival 2023 takes place from March 14th to March 17th at Cheltenham Racecourse in Gloucestershire. It’s one of the most attended racing festivals of the racing calendar and attracts around 250,000 racegoers each and every year. The feature race of the festival is the Gold Cup, which is second only to the Grand National in stature.

Cheltenham Major Races 2023 Schedule

The festival runs for four days from March 14th through to March 17th. Below you'll find the full schedule of Cheltenham Festival races.

Cheltenham Day 1 - Champion Hurdle Day Tuesday 14th March

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Cheltenham Day 2 - Ladies Day Races Wednesday 15th March

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Cheltenham Day 3 - St. Patrick’s Day Races Thursday 16th March

Cheltenham Day 4 - Gold Cup Day Races Friday 17th March

Cheltenham Championship Race Odds

Each day at the festival there is a featured race culminating with the Gold Cup on the last day. These are the biggest and most bet on races of the festival and with so much money backing the horses, Cheltenham odds can fluctuate quite a bit throughout the festival.

That’s why if you haven’t made an ante post bet, it’s crucial that you keep an eye on the odds ahead of your chosen race. You may be able to get some great value by picking your Cheltenham winner at just the right moment. The top four races are:

• Champions Hurdle

• Queen Mother Champion Chase

• Stayers Hurdle

• Cheltenham Gold Cup

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Terms: New 18+ UK customers only. Register using the promo code CHELT40, deposit and place first bet of £10+ on Sports (cumulative Evens+) within 7 days of registration. First bet must be on Sports. £30 in Free Bets and £10 in Extra Spins (50x20p) credited within 10 hours of bet settlement. Free Bet stakes are not included in any returns. Bonuses have a 7-day expiry. Payment restrictions apply. SMS verification and/or Proof of I.D and address may be required. Full T&Cs apply.