Not only is the Cheltenham Festival one of the biggest – if not the biggest – event of the season for racing fans, it’s also a big time of year for the bookmakers. With so much interest in the sport of horse racing, those friendly bookies really excel themselves when it comes to excellent value Cheltenham betting offers and Cheltenham festival free bets.
2020 Cheltenham Festival Schedule
Day 1 (Tuesday) March, 10
13:30 – Supreme Novices’ Hurdle
14:10 – Arkle Challenge Trophy
14:50 – Ultima Handicap Chase
15:30 – Unibet Champion Hurdle
16:10 – OLBG Mares’ Hurdle
16:50 – National Hunt Challenge Cup
17:30 – Close Brothers Novices’ Handicap Chase
Day 2 (Wednesday) March, 11
13:30 – Ballymore Novices Hurdle
14:10 – RSA Steeple Chase
14:50 – Coral Cup Handicap Hurdle
15:30 – Queen Mother Champion Chase
16:10 – Cross Country Chase
16:50 – Fred Winter Juvenile Handicap Hurdle
17:30 – Weatherby’s Champion Bumper
Day 3 (Thursday) March, 12
13:30 – JLT Novices Chase
14:10 – Pertemps Final Handicap Hurdle
14:50 – Ryanair Chase
15:30 – The Stayers’ Hurdle
16:10 – Brown Advisory Plate
16:50 – Mares Novices Hurdle
17:30 – Kim Muir Chase Cup
Day 4 (Thursday) March, 13
13:30 – JCB Triumph Hurdle
14:10 – County Handicap Hurdle
14:50 – Albert Bartlett Novices’ Hurdle
15:30 – Cheltenham Gold Cup
16:10 – Foxhunter Challenge Cup
16:50 – Grand Annual Chase
17:30 – Martin Pipe Conditional Jockeys Hurdle
Best Betting Sites
2020 Cheltenham Schedule
Betting Offers (To Be Updated)
Days 1-4 Of the Festival
Cheltenham Betting Markets
2020 Ante Post Tips
When it comes to horse racing, and particularly jumps racing, there is one event which stands head and shoulders above the rest. That event is the betting giant that is the magnificent Cheltenham Festival. Held over four days in March each year and featuring championship contests such as the Champion Hurdle, Champion Chase, Stayers Hurdle and of course the Cheltenham Gold Cup itself, there’s quite simply nothing else quite like it when it comes to excitement and drama.
The best of the best from both sides of the Irish Sea – in addition to legions of racing fans – descend on Prestbury Park to see dreams realised and hero’s made in what is effectively the Olympics of the sport. If you like racing and you like a flutter, a bet on Cheltenham is tough to beat. We have come up with this Cheltenham Festival Betting Guide as a quick introduction to this festival thriller.
New customers only – £10 deposit using promo code "RACING" - First bet must be placed on any market - Minimum stake £10 at odds of 1/2 (1.5) - Free bets credited upon qualifying bet settlement and expire after 7 days - Free bet stakes not included in returns - Deposit balance is available for withdrawal at any time. General deposit method & withdrawal restrictions apply & Full T&C’s apply
New online customers only, min £10/€10 stake, win only, min odds 1/2, free bets paid as 3 X £10/€10, 30 day expiry, free bet/payment method/player/country restrictions apply.
18+ New UK+IRE customers. Paypal and certain deposit types and bet types excluded. Min £5 bet within 14 days of account reg at min odds 1/2 = 4 x £5 free bets. Free bets valid for 7 days on sports, stake not returned, restrictions apply. T&Cs apply,
18+, Welcome Bonus: New Players only, 1st Deposit, Min Deposit,: £10, max £10 free bet valid for 14 days, bets must be placed at odds of 1/1 or greater and be settled within 14 days of placement. System bets no eligible.
Ante Post Special!
18+. UK&IRE only. Online & Phone. Paypal & some deposit & bet types excl. Min first £5 bet within 14 days of account reg at min odds 1/2 = 4x £5 free bets, valid for 7 days, stake not returned. No cashout, restrictions apply. Double Winnings applies to the first real money single bet of £1+ win or each-way from 8am 27/02 on the 1.30 Cheltenham each day. Max £25. Stake restrictions may apply. T&Cs Apply.
Place a bet of £/€10 or more at odds of EVS (2.0) or greater, and receive £/€40 (£/€30 Sportsbook Free Bet + £/€10 Casino Bonus). Full T&Cs apply.
New UK & Ireland Customers Only. Min Deposit: £/€10. 1 x wagering at odds of 1.75+ to unlock Free Bet. Debit Card & PayPal deposits only. Additional Terms Apply
New customers only. Min deposit £20 (UK debit cards only). Bet £10 at odds of evens (2.0) or greater. Multiple bets with cumulative odds of evens (2.0) count, each leg must have odds of 1/5 (1.2) to be eligible. Each way bets are not eligible for this promotion. Upon qualifying bet settlement receive 4x £5.00 Free Bets. Valid for 7 days, each free bet must be used in its entirety. Payment method restrictions & T&Cs apply.
18+. UK+IRE only. T&Cs apply. begambleaware.org
New customer only, max one £10 free bet, qualifying bets must be placed at odds of 2.0(1/1) or greater, paid as bonus token with min odds reg, T&C Apply.
Cheltenham Money Back Specials
Back a horse in the 13:30 Cheltenham, and should it finish 2nd or 3rd, Betfred will refund your stake as a Free Bet up to £10!
T&Cs: Selection must finish 2nd or 3rd in the 13:30 Cheltenham. Win singles & win part of e/w bets only. Free Bets paid within 24 hours, max £10 and removed after 7 days. 7 or more runners must start the race. Full T&Cs Apply.
PLUS BET £10 GET £30 FOR NEW CUSTOMERS
Back a horse in any handicap race from Cheltenham, and should it finish 2nd or 3rd to the SP Favourite Betfred will refund your stake as a free bet up to £10
FRIDAY RACES: 14:10, 16:50 & 17:30
T&Cs: Selection must finish 2nd or 3rd to the SP fav in the selected race(s). Win singles & win part of e/w bets only. Free bets paid within 24 hours, max £10 and removed after 7 days. 5 or more runners must start the race. Full T&Cs & T&Cs for new customer offer apply.
ON ALL CHELTENHAM 2020 RACES
+ BET £10 GET £30 FOR NEW CUSTOMERS
+ EXTRA PLACES
18+. UK/IRE customers only. Max refund £/€20. Win or win part of e/w outright singles only. Min field size required. 1st bet on each race. Free bet expires after 7 days. Applies to Ante Post bets placed from 3/3/2020. Free/void bets don't qualify. T&Cs apply.
Bookmakers Paying Extra Places On 2020 Cheltenham Festival
+ BET £10 GET £30 FOR NEW CUSTOMERS
Friday 13th March:
14:10 Cheltenham - 1/5 the odds 1-2-3-4-5 (enhanced from 1/4 1-2-3-4). Standard place terms will apply if 15 or fewer horses run.
14:50 Cheltenham - 1/5 the odds 1-2-3-4 (enhanced from 1/5 1-2-3). Standard place terms will apply if 11 or fewer horses run.
16:10 Cheltenham - 1/5 the odds 1-2-3-4-5 (enhanced from 1/5 1-2-3). Standard place terms will apply if 15 or fewer horses run.
16:50 Cheltenham - 1/5 the odds 1-2-3-4-5 (enhanced from 1/4 1-2-3-4). Standard place terms will apply if 15 or fewer horses run.
17:30 Cheltenham - 1/5 the odds 1-2-3-4-5 (enhanced from 1/4 1-2-3-4). Standard place terms will apply if 15 or fewer horses run.
18+. Selected races only. Standard place terms apply should minimum runner requirements not be met. Online only.
+ NEW CUSTOMERS GET £30 RISK FREE BET
- Paying 4 places @ 1/5 odds in the 13:30 (JLT NOVICES CHASE) Cheltenham.
- Paying 7 places @ 1/5 odds in the 14:10 ( PERTEMPS FINAL HANDICAP HURDLE) Cheltenham. For PP Online Only.
- Paying 5 places @ 1/5 odds in the 16:10 (BROWN ADVICSORY PLATE) Cheltenham.
- Paying 4 places @ 1/5 odds in the 16:50 (DAWN RUN MARES’ NOVICES’ HURDLE)Cheltenham.
- Paying 5 places @ 1/5 odds in the 17:30 (KIM MUIR CHALLENGE CUP) Cheltenham.
- If there are less than 16 starters, Paddy Power will pay 4 places.
- If there are less than 8 starters, Paddy Power will pay 3 places.
- If there are less than 6 starters, Paddy Power will pay 2 places
- FULL T&Cs APPLY
Bookmakers Offering Non Runner No Bet On 2020 Cheltenham Festival
Bookmakers Offering Best Odds Guaranteed On 2020 Cheltenham Festival
Enhanced Odds Promotions
+£5 EVERY DAY FOR WINNERS AT ODDS 4/1+
New customers only • £10 deposit using promo code • Minimum stake £10 at odds of 1/2 (1.5) • Free bets credited upon qualifying bet settlement and expire after 7 days • Free bet stakes not included in returns • Deposit balance is available for withdrawal at any time. withdrawal restrictions & Full T&C’s apply
Days 1-4 Of the Cheltenham Festival
Looking ahead to that 2020 Festival, lets see exactly what we have in store.
Firstly, when is the Cheltenham festival? The action kicks off on Tuesday 10th March 2020 and runs through until Friday 13th March. Be sure to get those Cheltenham festival 2020 dates in your diary.
You may be wondering how many races there are at the Cheltenham Festival? The answer is 28 in all. Every day at Cheltenham is absolutely top notch, but each of the cards has its own standout Cheltenham Festival races.
Day 1 – Tuesday 10th March 2020
Day 1 takes place on Tuesday 10 March 2020 and we’ll hear the famous Cheltenham roar from the packed stands as the tape goes up for the first race. Plenty for punters to get excited about here, including the Mares Hurdle which has provided us with some memorable renewals over the years. It is also the hurdlers who take centre stage on the opening day as the field line up for the Champion Hurdle itself. As the title would suggest, this is the race which crowns the current king over the smaller obstacles. Who will prove to be queen of Prestbury Park this time?
Cheltenham Day 1 Race Schedule
Day 1 (Tuesday) March, 10
14:10 - Arkle Challenge Trophy - Read Race Coverage
15:30 - Unibet Champion Hurdle - Read Race Coverage
16:10 - OLBG Mares’ Hurdle - Read Race Coverage
17:30 - Close Brothers Novices' Handicap Chase - Read Race Coverage
Day 2: Wednesday 11th March 2020
Day 2 takes place on Wednesday 11 March 2020 and the Ballymore Novices Hurdle serves as a delicious appetiser for the feast that lies ahead. All eyes will be on the Champion Chase and predicting the winner of this contest will keep backers guessing right up until the finish line.
There are many highlights on Day 2, including the Queen Mother Champion Chase which has been the scene of some truly memorable moments over the years, including the incredible return of Sprinter Sacre in 2016; barely a dry eye in the house that day. Also on the card are the festivals only flat race of the Champion Bumper and the biggest, most fiercely competitive handicap of the week in the Coral Cup which is always one of the most popular Cheltenham horse racing betting events.
Cheltenham Day 2 Race Schedule
Day 2 (Wednesday) March, 11
13:30 - Ballymore Novices Hurdle - Read Race Coverage
14:50 - Coral Cup Handicap Hurdle - Read Race Coverage
15:30 - Queen Mother Champion Chase - Read Race Coverage
16:10 - Cross Country Chase - Read Race Coverage
16:50 - Fred Winter Juvenile Handicap Hurdle - Read Race Coverage
17:30 - Weatherby’s Champion Bumper - Read Race Coverage
Day 3 – Thursday 12th March 2020
Day 3 takes place on Thursday 12 March 2020. It may be the penultimate day of racing and punters will begin to look ahead to the Gold Cup but there’s a few Grade 1 races that deserve our attention first. Paisley Park has been quoted in the antepost Cheltenham Festival betting for the Stayers Hurdle and traders fancy him to book another visit to the Gloucestershire winners enclosure.
Stamina is to the fore in the Day 3 feature of the Stayers Hurdle. Three miles is the trip for this often grueling affair; who will stay on the best up that unforgiving Cheltenham Hill? Such has been the quality of the Ryanair Chase in recent years that it has legitimate claims to being the best race on the Thursday card, with recent winners including the likes of the brilliant Vautour and Un De Sceaux, and one of the most popular jumpers in recent memory, Cue Card.
Cheltenham Day 3 Race Schedule
Day 3 (Thursday) March, 12
13:30 - JLT Novices Chase - Read Race Coverage
14:10 - Pertemps Final Handicap Hurdle - Read Race Coverage
14:50 - Ryanair Chase - Read Race Coverage
15:30 - The Stayers' Hurdle - Read Race Coverage
16:10 - Brown Advisory Plate - Read Race Coverage
16:50 - Mares Novices Hurdle - Read Race Coverage
17:30 - Kim Muir Chase Cup - Read Race Coverage
Day 4: Friday 13th March 2020
Day 4 takes place on Friday 13 March 2020. An unlucky day for the superstitious but it will be a bag of treats for those following the racing at Prestbury Park, especially the 2020 renewal of the Cheltenham Gold Cup. One of the biggest races on the UK schedule, it will be watched by packed crowds with millions more around the world glued to the live TV coverage.
The crème de la crème of the chasing division do battle over a trip of 3m2f which will expose any chinks in the armour of even the most talented performer. For connections of the top chasers, this is the race they all want to win.
Topping the bill on the undercard is the opening 2m1f Triumph Hurdle. The only contest of the week restricted solely to four year olds, it’s the perfect race to view the potential superstars of the future.
Cheltenham Day 4 Race Schedule
Day 4 (Thursday) March, 13
13:30 - JCB Triumph Hurdle - Read Race Coverage
14:10 - County Handicap Hurdle - Read Race Coverage
14:50 - Albert Bartlett Novices' Hurdle - Read Race Coverage
16:10 - Foxhunter Challenge Cup - Read Race Coverage
16:50 - Grand Annual Chase - Read Race Coverage
17:30 - Martin Pipe Conditional Jockeys Hurdle - Read Race Coverage
How to Bet on Cheltenham Festival?
The real thrill in the Cheltenham Festival comes in placing a bet on the outcome of the races, but how to go about it? Here are a few things to bear in mind when taking a look at the Cheltenham festival 2020 betting.
Choose Your Bookie
As mentioned sign up bonuses and Cheltenham betting offers throughout the festival will be in plentiful supply. Take a look around and pick out those which most appeal. Our site comes in handy in this regard – and remember you don’t have to stick to just the one bookmaker.
Learn About Cheltenham Betting Markets
Horse to Win or Each-way
The simplest bet to place on the Cheltenham Festival and it can be applied to any race on any of the four days of Prestbury Park action. This a single bet on your selection to finish 1st in the specified race. If it does you will bank a return. If it ends 2nd or below you lose your stake.
Each-way is a bet on your pick to finish in the major places. This is usually the first three, but each-way terms depend on the number of runners. An example of each-way could be ¼ the odds a place 1-2-3.
Forecast / Tricast
This bet is a little more complicated than the one above. Again, you are predicting which horse will win the race but a forecast challenges you to also pick the runner that will finish 2nd. The two on your bet slip must finish in the right order, 1st and 2nd.
With a tricast you must call the first three in the race, 1st, 2nd and 3rd in that order. Tricast bets aren’t available in all races, so check before attempting to make this type of wager. Forecast and Tricast bets are notorious for large pay-outs at the Cheltenham Festival.
Placepot & Pool
When betting at the Cheltenham Festival 2020 you can choose between a fixed-odds bet or the Tote Pool returns. The Tote also run several special bets, such as a Placepot and Jackpot. The Placepot is a wager which challenges backers to pick a horse to place in the first six races of the meeting. It doesn’t matter if your pick wins or ends in the major places, the bet continues to the next race. Get through all six and you’ll land a return. The amount due depends on how many winners have a claim on the pot, similar to a lottery. Try out a Cheltenham placepot this March.
This bet is very interesting as you are picking one horse to beat another. It could be in a two-runner field or a 22-runner field. When placing a match bet you are calling Horse A to beat Horse B and it doesn’t matter in which order they finish the race. It could be 1st and 2nd or second last and last. As long as your pick ends higher up the final order than its rival you will be paid out a profit. The match bets may be decided by the trading team or you can take two horses of your choosing.
Top Trainer/Top Jockey
Value for money bet that gives players an interest for the duration of the Cheltenham Festival, lasting from Tuesday to Friday. Here you are placing your stake on which trainer will have the most winners or which jockey will ride the most champions.
The odds are determined by traders and are calculated by how many horses a trainer or jockey has with a genuine chance of winning the race. This could be favourites or those near the head of the market. This will give you an interest in every race as you tally the winners of your trainer or jockey against that of their rivals.
2020 Cheltenham Ante-Post Tips
There are many angles into the Cheltenham Festival, but one of the best is previous form at the track. That Cheltenham Hill has broken the hearts of many over the years, and a proven ability to conquer it can count for plenty. Also note those trainers and jockeys who are regularly amongst the winners here and ignore the Irish trained runners at your peril!
Kemboy is antepost favourite to win this year’s Gold Cup with every major bookmaker but it appears traders have been a little too quick to put a line through the chances of defending champion Al Boum Photo. If he’s sent back in for more and makes the final field, he has every chance of out running his odds, which currently sit at 8/1. Sure to be popular on Cheltenham race week.
Beveur D’Air has been chalked up as the early favourite by traders but it remains to be seen which race at the festival he’ll be entered into. If Klassical Dream makes the grade here, then he’ll surely take all the beating. Ridden by Ruby Walsh for Willie Mullins, Klassical Dream was a champion at the 2019 Cheltenham Festival, winning the Supreme Novices Hurdle by more than four lengths. One for your early Cheltenham tips.
The antepost list for this race makes for interesting reading and suggests we’re set for a competitive renewal. Some top class horses are quoted in the list but it’s difficult to make a strong case against backing Defi Du Seuil at 6/1. Philip Hobbs’ gelding won the JLT Novices Chase last year, proving head and shoulders above a strong field.
Queen Mother Champion Chase
Altior looks the one to trust in the antepost market and the 5/1 being offered at the time of writing looks to be on the generous side. Nicky Henderson’s striking gelding is a real fans’ favourite and his CV already shows some impressive wins. He banked the Grade 1 Champion Chase in 2019 when sent off as an odds-on favourite. Will feature in a fair share of Cheltenham betting tips again.
Visit Our Ante Post Betting Page
Learn about risks and perks of putting a wager on the Cheltenham antepost markets.
Enjoy Cheltenham Live Streaming
If you are placing a bet on the Cheltenham Festival, then no doubt you would like to watch the action unfold. Thankfully when it comes to online betting for Cheltenham, many online bookmakers are perfectly happy to cater to this desire through their live streaming services.
William Hill, Bet365, Ladbrokes and BetVictor are just a few of the firms to provide this facility. These days though it would be quicker to list the firms who don’t offer live streaming for UK horse racing than those who do. The usual caveat is that you must have placed a bet on the event in question in order to access the live stream.
Cheltenham Festival Past Winners
Cheltenham 2019 Recap
Cheltenham Festival 2019 was a memorable week of action which brought followers the best horses, jockeys, trainer and owners, all doing battle over huge sums of money and a place in the history books. The festival threw up more than a few surprises with favourites finding it difficult to live up to expectations. As is often the case at Prestbury Park it was a meeting that favoured the brave, those taking on the shortest price runners with plucky outsiders.
Below is a list of winners and prices from some of the most famous Cheltenham races from 2019:
- Festival Handicap Chase – Beware The Bear @ 10/1
- Champion Hurdle – Espoir D’Allen @ 18/1
- Coral Cup – William Henry @ 28/1
- Mares Novices Hurdle – Eglantine Du Seuil @ 50/1
- Gold Cup – Al Boum Photo @ 12/1
- Albert Bartlett – Minella Indo @ 50/1
- Grand Annual – Croco Bay @ 66/1
2019 CHELTENHAM GOLD CUP WINNER – Al Boum Photo
Favourites didn’t fare too well at last year’s Cheltenham Festival, as can be seen from the above results in some of the week’s biggest races. We also witnessed a losing favourite in the standout race of the festival, Friday’s Cheltenham Gold Cup. Winner of that Grade 1 contest was Al Boum Photo who upset the odds to delight backers at a chunky 12/1. Paul Townend sat in the saddle and the pair finished as deserved champions in one of Europe’s premier National Hunt horse races. Al Boum Photo beat off competition from runner up Anibale Fly and Barry Geraghty at 22/1 with Bristol De Mai back in third, rounding off the major places at 18/1.
The Cheltenham betting guide shows 2019 provided star trainer Willie Mullins with his first win in the Cheltenham Gold Cup but there’s expected to be many more in the years to come. That was also the first and only time jockey Paul Townend has featured in the Gold Cup winner’s enclosure.
2018 Cheltenham Gold Cup Winner – Native River
Scene of one of the most titanic head to head tussles you are ever likely to witness, the 2018 renewal of this contest was a true classic. 15 went to post, but this race concerned just the two from a long way out as Colin Tizzard’s Native River and Nicky Henderson’s, Might Bite did battle on the front end.
In the end it was Native River who claimed gold as Might Bite finally, finally relented on the run in.
Tony Martin’s Anibale Fly fared best of the Irish raiders, coming with a late rattle for third.
2017 Cheltenham Gold Cup Winner – Sizing John
Jessica Harrington enjoyed quite a year in 2017, but undoubtedly her crowning moment came here in the Gold Cup. Winning the race at the first attempt with converted two miler, Sizing John was a career defining moment for the Irish handler. Tough stayer Minella Rocco, finished best of all to fill second spot, with future winner of this race Native River in third.
2016 Cheltenham Gold Cup Winner – Don Cossack
Long touted as a superstar the 2016 Cheltenham Gold Cup was the race in which Gordon Elliott’s Don Cossack delivered on the biggest stage of all, coming home comfortably clear of fellow Irish raider, Djakadam.
With Don Poli filling third spot, this was a famous 1-2-3 for our friends from the Emerald Isle. Quite what would have happened had Cue Card not fallen in the closing stages, we will sadly never know.
Cheltenham Festival History Highlights
With origins harking back all the way to 1860, the Cheltenham Festival has now provided enough unforgettable moments to fill a book, but here are a few of our own personal favourites.
Kauto Star Regains His Crown (2009)
A handful of horses have won the Cheltenham Gold Cup on more than one occasion over the years – Golden Miller won it five times – but only one horse has ever regained the crown having lost it. Victorious in 2007 but mastered by stablemate Denman in 2008, the Paul Nicholls runner Kauto Star showed the fire stilled burned bright at nine years of age when bringing the house down with victory in 2009.
Sprinter Sacre Back From The Brink (2016)
In his pomp the Nicky Henderson runner, Sprinter Sacre was the most talented performer seen over fences since the legendary Arkle. Reaching the pinnacle of the two mile chase division with victory in the Queen Mother Champion Chase in 2013, it all started to go wrong thereafter. Pulled up at Kempton suffering from an irregular heartbeat, there were many calls for his retirement as he looked a shadow of his former self in subsequent starts.
Henderson kept the faith though and in 2016 there were signs of some of that old sparkle returning. Seeing him return to the scene of his finest hour to master the hot favourite Un De Sceaux at the 2016 Festival was one of the most truly spine-tingling moments witnessed in this great sport.
Dickinson Dominance (1983)
Returning to the Cheltenham Gold Cup, surely the greatest ever Cheltenham training performance came in that race in 1983.
To saddle the winner is a feat in itself, to send out the 1-2-3-4-5 is therefore truly remarkable. Remarkable but not impossible as that is exactly what trainer Michael Dickinson achieved. Bregawn being the horse to lead the quintet home.
Hopefully this Cheltenham betting guide will have served to whet your appetite for what is in our opinion one of the greatest sporting spectacles in the world . A perfect introduction to those new to the sport of horse racing, and for existing fans, this is the most eagerly anticipated festival of the year. Good luck with your Cheltenham 2020 betting!
What is tote betting?
As opposed to the set return of fixed odds betting, tote pool betting is also available at the Cheltenham festival. In tote betting all stakes are placed in a “pool” and then shared equally amongst the winners, minus a deduction for the pool operator. Pool bets can take the form of win bets, place bets, Placepots (picking a horse to be placed in the first six races on a card), forecasts and more. Most firms offer tote betting as an option, including Ladbrokes and Coral.
What does non runner no bet mean?
One of the main down sides of placing an ante-post bet is that should your selection not take part on the day, you will lose your stake. Thankfully this pitfall can be avoided at the Cheltenham Festival as many firms – including Ladbrokes, Coral, BetVictor and others – offer the non-runner no bet concession on their ante post Cheltenham Festival betting. As the name implies your stake will be returned should your selection not take part. Be sure to bear this in mind when checking out the betting for Cheltenham 2019.
How does each way betting work in horse racing?
An each way bet is effectively two separate bets of equal stakes. So for example a £1ew bet will cost £2 in total.
The first bet is a bet on the horse to win; this will be settled at the full odds taken.
The second bet is a bet on the horse to be placed. The term “placed” refers to finishing in the defined placed positions – this can be anything from the first two to the first four, depending upon the type of race and size of field. This portion of the bet will be settled at a fraction – either 1/4 or 1/5 – of the odds listed, again depending upon the type of race and size of field.