'A lot more money about' - on-course bookies report strong trade at Cheltenham

On-course bookmakers reaped the benefits of crowds returning to the Cheltenham Festival in record numbers, with buoyant trade in the betting ring and positive signs for the future.

A combined attendance of 280,627 across the four days brought unparalleled footfall to Cheltenham and, even though the rest of the site was cashless, punters were happy to spend their cash in the ring.

Bookmaker Martin Davies, who bet at pitches 13 and 14 in the Best Mate enclosure, said: "The crowds were phenomenal and, although I was actually down on my slips, the money was well up. My average stake for the last six years has been £10.60 but this time it was £17.41.

"I've never seen so many large-stake bets in the silver ring than I did on Thursday and there definitely seems to be a lot more money about.

"Generally, cashless is no good, but it didn't seem to be a problem. I don't think I took any more card payments than I would on a Saturday at Newbury or Ascot."

The wet weather on Wednesday was bad for business and four winning favourites on Friday made for a difficult last day, but Davies was pleased with the week as a whole.

"Everything became harder on Wednesday when it was cold and wet, but other than that we couldn't have asked for three better days on Tuesday, Thursday and Friday," he said.

"My stake was up over 30 per cent but my slips were down 20 per cent on two years ago, which is a little bit of a worry, but Wednesday was a bit of a washout and had a big bearing on it."

Bookmaker Martin Davies reported positive trade in the Best Mate enclosureCredit: Edward Whitaker

With last year's festival having taken place behind closed doors, the rising demand was welcomed by on-course bookmakers, who suffered more than most during the pandemic.

"The bigger racedays have definitely improved since the crowds came back," Davies said. "There were a lot of younger people in the crowd, which has to bode well for the future, and there was a jovial atmosphere."

Fellow layer Joe O'Gorman was equally satisfied with his week in lower Tattersalls, near the Guinness Village.

"It was great to be back, and back in style as well. The atmosphere was electric every day," he said. "Business was the best it has been in my six years betting down there.

"My average bet was over £20 and in previous years I struggled to get above that figure. It was a fantastic festival and it was just a shame we couldn't get a few more jollies beat as Friday was relentless."

For all that it was undoubtedly a productive week for the bookmakers, Davies, who has stood at the festival for the last 20 years, did raise more than one cautionary note.

"I do wonder whether people being in lockdown means they have money to spend and it'll be boom time for two or three years before the cost of living kicks in and makes it harder," he said.

"I'd also be against going to five days as it'll dilute the racing. We noticed the reduction in the field sizes, especially in the non-handicaps, as the place market used to be phenomenal for us but it has taken a big hit."

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