£1m prize-money on offer every day of Cheltenham Festival after funds boost

The runners in the 2m 1f handicap hurdle race down the hill towards the stands. The race was won by Smaoineamh AlainnCheltenham 15.12.17 Pic: Edward Whitaker

The Cheltenham Festival continues to go from strength to strengthCredit: Edward Whitaker

The Cheltenham Festival will boast record prize-money of £4,590,000 over its four days next March, a seven per-cent rise on 2017.

As a result, each day will carry more than £1 million in prize-money for the first time.

The news comes two days after it was revealed by the Racing Post that the Jockey Club will pump an extra £4.2m from its own coffers into prize-money in 2018, increasing total race values across Jockey Club racecourses by £8m.

How all the Grade 1 championship events at the festival have benefited...

Timico Cheltenham Gold Cup £625,000 from £575,000

Unibet Champion Hurdle £450,000 (£400,000)

Betway Queen Mother Champion Chase £400,000 (£350,000)

Sun Bets Stayers' Hurdle £325,000 (£300,000)

Ryanair Chase £350,000 (£300,000)

OLBG Mares' Hurdle £120,000 (£110,000)

Other meetings at Cheltenham will also have increased prize-money, starting with a 23 per cent increase for the New Year's Day meeting, while Festival Trials day at the end of January has a seven per cent rise.

Cheltenham clerk of the course Simon Claisse said: "We're delighted to be able to offer increased prize-money at Cheltenham over the next three months with bigger prize funds on all racedays and at all levels of competition.

"The Grade 1 championship contests at the festival have received timely boosts and the Timico Cheltenham Gold Cup, worth £625,000 in 2018, consolidates its position as the richest Grade 1 chase in Britain.

"These prize-money increases will assist in attracting and retaining owners who put so much into jump racing and will also help support the strong jump bloodstock market, including the thriving Tattersalls Ireland Sales at Cheltenham."

Claisse added: "We will announce in due course the details of higher prize-money for our racedays in April and May and the first part of the 2018-19 season."

Prize-money increases at Cheltenham...

New Year's Day - Monday, January 1

2018 value - £260,000

2017 value - £212,000

Increase - £48,000 (23 per cent)

Festival Trials day - Saturday, January 27

2018 value - £354,000

2017 value - £330,000

Increase - £24,000 (7 per cent)

The Festival - Tuesday, March 13 to Friday, March 16

2018 value - £4,590,000

2017 value - £4,305,000