How To Bet On Cheltenham
Discover the ultimate guide on how to bet on the Cheltenham Festival. From understanding odds to picking winners, get expert tips and strategies for 2024.
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Dating back to 1860, the Cheltenham Festival is one of the biggest events in the National Hunt racing calendar. Offering some of the biggest prize money in UK racing, the Festival attracts the elite of horse racing over an exhilarating four days and twenty-eight races.
In this article, we will provide you with all you need on how to bet on Cheltenham online and at the racecourse. If you’re experienced or new to betting, read on for tips and strategies to enjoy betting at Cheltenham Festival.
Cheltenham Festival Betting Basics
Before you place a bet on Cheltenham, it’s important to understand the basics of betting, such as popular bet types and how to read the odds and racecards.
Popular Horse Racing Bets
Win Bet – A simple bet on the horse to win.
Each Way – A bet that is two bets in one. Half your stake goes on the horse to win. The other half goes on the horse to finish in the places.
Forecast – A bet on the horse to finish 1st and the horse to finish 2nd.
Reverse Forecast – A bet on the horses finish 1st and 2nd in any particular order.
Tricast – Select the first three horses to finish in the correct order.
Accumulator – Four or more horses in different races to win (or place, if it’s an each-way accumulator)
Double – Two horses in separate races to win.
Treble – Three horses in separate races to win.
Trixie – Four bets involving three horses in different races: three doubles and a treble. At least two selections must win to gain a return.
Patent – Seven bets involving three horses in different races: three singles, three doubles, and a treble.
Yankee – 11 bets on four horses in different races: six doubles, four trebles, and a fourfold accumulator.
Canadian/Super Yankee – 26 bets on five horses: ten doubles, ten trebles, five fourfolds, and a fivefold accumulator.
Lucky 15 – 15 bets on four horses (4 singles, 6 doubles, 4 trebles, and a fourfold)
Lucky 31 – 31 bets on five horses (5 singles, 10 doubles, 10 trebles, 5 four folds and 1 five fold)
Lucky 63 – 63 bets on six horses (6 singles, 15 doubles, 20 trebles, 15 four folds, 6 five folds and 1 six fold)
Placepot – a bet placed on the first six races of a race meeting
Heinz – 57 bets on six horses (15 doubles, 20 trebles, 15 four folds, 6 five folds, and a six fold)
Super Heinz – 120 bets on seven horses (21 doubles, 35 trebles, 35 four folds, 21 five folds, 7 six folds and 1 seven folds).
How to Read Odds
In horse racing, there are three odds formats: decimal, fractional, and American. The most common odds format used by UK bookmakers is fractional.
Fractional odds show the potential return compared to the amount of money bet. The left number represents the potential return. The right number represents the amount of money bet. For example, if the odds are 3/1 and you stake £1 and win, you will win £4 (£3 profit + your £1 stake).
Decimal odds are much easier to understand because the odds represent the total payout for every unit staked. For example, if the odds are 4.13 and you stake £1 and win, you will win £4.13.
American odds are less common in UK betting. Odds show how much money you need to bet to win $100 or how much you’d win from a $100 bet.
How to Read Racecards
When placing a bet on Cheltenham it is important to know how to read Cheltenham racecards. They provide essential information on the horses, jockeys, trainers, and course conditions and is your best friend when trying to pick a winner.
However, to a beginner, a racecard might seem as perplexing as hieroglyphs at first glance.
Our Cheltenham racecards provide all the key information and insights you need about the horses running at Cheltenham Festival. Below, we’ll run you through the basics of a racecard.
- Race Name – The name of the race.
- Distance – The length of the races measured in miles and furlongs.
- Places – Number of places that receive a prize or are considered for “place” betting payouts
- Prize Money – The money the owner of the winning horse will win.
- Runners – The number of horses running in the race.
- Going – The condition of the racecourse turf.
- Expert Analysis – Key insights and analysis with our expert preview.
- Form – The numbers show how the horse did in its last five races. U means unseated, P means pulled up, and F means fell.
- Head Gear – Headgear for horses includes blinkers, visors, cheekpieces, and hoods that are worn on the horse’s head.
- Official Rating – A numerical score given by the handicapper, representing its performance based on previous races. A higher OR means the horse will carry more weight those with lower ratings.
- Jockey – A jockey with a good record in the race indicates a know-how of winning the race.
- Trainer – A trainer with a good record in the race shows their experience in preparing and conditioning the horse for the race.
- Horse weight – The total weight the horse must carry, including the jockey, saddle, and extra weights to meet the assigned handicap.
- Age of the horse – self-explanatory
- Days since last run – 30-60 days is considered the optimal time frame.
- Miles travelled – Longer distances can adversely affect the horse.
- Course & Distance winner – A course or distance winner means the horse has won at that track and race length.
- Course winner – A course winner means the horse has won at that track.
- Distance winner – A distance winner means the horse has won at that race length.
- Beaten favourite last time out – States that a horse was the favourite in one of its recent races but did not win.
How to Place a bet at Cheltenham Racecourse
Having covered the common types of bets, the odds, and racecards, we can now proceed to place a bet on Cheltenham races. To place a bet at the Cheltenham Racecourse follow these steps:
- Pick your selections and your bet type
- Choose your stake
- Select an on-track bookie for fixed odds or tote window for pool betting
- Place your bet
- Collect your betting slip
Do you need cash to bet at Cheltenham?
You don’t need cash to bet at Cheltenham. You can use your card with the Tote or bet at an online bookmaker.
Do the bookies take cash at Cheltenham?
The on-course bookies and the Tote accept cash bets from the punters at Cheltenham.
What is the minimum bet on Cheltenham?
The minimum bet you can place at Cheltenham is often £2 on-course and as low as £0.10 online.
How do I place a bet on Cheltenham online?
Placing a bet on the Cheltenham Festival online is a straightforward process. You can place a bet from the comfort of your own home or on the go. To place a bet at the Cheltenham online following steps:
- Log in or sign up to a Cheltenham bookmaker
- Deposit funds into your account
- Navigate to the Cheltenham area
- Pick your horse and add it to your betslip
- Select your stake and click the bet button
How to pick winner at Cheltenham
Picking winners at Cheltenham Festival isn’t easy because of the many variables at play. However, we’ve put together some tips and tricks that’ll give you the best chance of finding a winner.
Study The Form of the Runners and Riders
Examining the form is the cornerstone of selecting a winner. This involves analysing past performances of horses. Take the racecard and note the time, distance, and course condition because this sets the context for evaluation the runners and riders.
Look for patterns of success, noting especially performances at Cheltenham or comparable courses with challenging terrains. Identify any jockeys or trainers with a successful track record at Cheltenham, as their experience and know-how can be pivotal.
Also, consider the horse’s recent races. Is it in form? Has it raced well in similar race conditions? Has it won on this course or at the same distance previously?
Finally, the jockey can significantly influence performance. A jockey with knowledge of the horse’s strengths and the course layout can make strategic decisions that turn a potential place into a win.
Use an Odds Comparison to Get the Best Price
As in all works of life, it’s important to shop around to ensure you’re getting the best deal. Since odds vary across bookmakers, using an odds comparison tool can ensure you get the best value for your bet.
Fortunately, our Cheltenham odds comparison tool lets you effortlessly compare odds from top bookmakers for every Cheltenham Festival race.
Plus, numerous bookmakers offer best odds guaranteed promotions, ensuring you’re paid at the higher odds between your initial bet and the starting price (SP) of your choice.
Listen to the Experts
Listening to expert analysis can provide valuable information that might not be immediately apparent from the form alone. In fact, our tipsters utilise their horse racing connections to gain deeper insights than a racecard can provide.
That’s why we provide you with Cheltenham tips for every single day of the festival:
Cheltenham Betting Promotions
As previously mentioned, the Cheltenham Festival is one of the National Hunt events in the Horse Racing calendar. Bookmakers respond by offering substantial Cheltenham free bets and offers, that you can use to enhance your betting experience and increase your bankroll.
