For Irish punters, Cheltenham Festival in March is the biggest betting event of the year — bigger than the Grand National, bigger than the All-Ireland Final. Four days at Prestbury Park, 28 races, and a level of focus from the Irish racing public that is unmatched anywhere in the world. This guide covers the key races, the betting strategies that suit the festival format, and what to look for in a bookmaker for Cheltenham week.
The Four Days and Key Races
Day 1 (Champion Day): The Champion Hurdle (Grade 1, 2m) is the highlight — Ireland's leading hurdlers have dominated this race in recent seasons. The Arkle Trophy (novice chase) and Supreme Novices Hurdle also attract major ante-post markets.
Day 2 (Ladies Day): The Queen Mother Champion Chase (Grade 1, 2m) is the speed-chase championship of the year. The Ballymore Novices Hurdle is one of the festival's key novice contests.
Day 3 (St Patrick's Thursday): The Stayers Hurdle (Grade 1, 3m) tests staying ability. The Ryanair Chase (Grade 1, 2m5f) has grown into a Grade 1 in its own right, often attracting Gold Cup horses stepping back in trip.
Day 4 (Gold Cup Day): The Cheltenham Gold Cup (Grade 1, 3m2f) is the festival's showpiece. Mares have won it in recent years; Irish-trained horses have been dominant. The County Hurdle and Foxhunter Chase complete the final card.
Ante-Post vs On-the-Day
Ante-post markets for Cheltenham open as early as the previous year. The advantage is better prices — a Gold Cup contender priced at 10/1 in November may start at 6/1 by race day. The risk is non-runners: if your horse misses the festival through injury, you typically lose your stake unless the bookmaker offered non-runner no bet (NRNB) terms.
Many GRAI-licensed bookmakers offer NRNB on ante-post Cheltenham markets — check each site's terms before placing. If NRNB is not available, ante-post bets on more vulnerable horses carry significant risk. Horses trained by the leading Irish yards are historically well-managed for the festival but injuries are unavoidable in jump racing.
Each-Way Betting at the Festival
Cheltenham's big-field handicaps are where each-way betting earns its reputation. Many races have 20–30+ runners, and typical each-way terms of 1/4 the odds for 4 or 5 places mean that mid-price selections between 12/1 and 25/1 offer genuine each-way value even when they do not win.
Grade 1 championship races (Champion Hurdle, Gold Cup, Queen Mother Chase) have smaller fields of 8–15 runners. Each-way terms are usually 1/4 the odds for 3 places — you need a bigger price to make each-way worthwhile here compared to a 24-runner handicap. Our each-way calculator lets you work out the exact maths before placing.
Irish Dominance: Priced In or Overlooked?
The leading Irish jumps yards consistently dominate Cheltenham — this is well-documented and largely priced into the markets. The strategic question for punters is where within the Irish raiding party the value lies. The market leaders from the top Irish stables are typically efficiently priced. Second and third strings from the same yards, and horses from smaller Irish yards with one festival-quality runner, can offer more generous odds that are not fully justified by ability.
Irish trainers also historically target specific races — following the festival entries published in January and tracking trial race performances in January and February is the foundation of serious ante-post selection.
Frequently Asked Questions
Cheltenham Festival 2027 is expected to run in mid-March 2027 over four days. Exact dates are confirmed by Cheltenham Racecourse — check the official website for confirmation.
In big-field handicaps (20+ runners), each-way terms at 1/4 the odds for 4 places offer genuine value on mid-price horses between 10/1 and 25/1. Use our each-way calculator to check the maths before placing.
Ante-post markets offer longer prices than race-day markets, but you lose your stake if the horse is a non-runner unless the bookmaker offers non-runner no bet (NRNB) terms. Always check the specific terms before placing ante-post.
Historically, yes. Irish-trained horses have dominated Grade 1 races at the Festival in recent seasons. This is well-known and priced in — look for value in lesser-fancied Irish runners rather than blindly backing the market leaders.
Best Odds Guaranteed (BOG) means if the starting price is higher than the price you took, you get paid at the SP. Many GRAI-licensed bookmakers offer BOG on UK horse racing including Cheltenham — check current terms on each site.