Cheltenham Festival betting guide: how to bet on Cheltenham

The beginner's guide to betting on Cheltenham, explaining everything from how to place a bet to how to pick a winning horse!

The Cheltenham Festival is now firmly established as the biggest racing event in the calendar. Every year, for four glorious days in March, the sporting focus turns its spotlight squarely on this magnificent amphitheatre in the Gloucestershire countryside.

In our Cheltenham Festival betting guide we will uncover how to bet on the Cheltenham Festival as well as who to bet on and what horses to bet on when the greatest show on turf kicks off on March 14, 2023.

As always, the Cheltenham Festival runs from Tuesday-Friday in mid-March (this year's Cheltenham Festival spans March 14-17), with 28 races (seven per day) spearheaded by the four championship races that are the features every afternoon at 3.30pm.

To get the ultimate betting experience for the festival, make sure to check out our Cheltenham Festival microsite.

How to place a bet on the Cheltenham Festival

If you don't already have an online account with a bookmaker, here's our step-by-step guide to getting one and placing your 2023 Cheltenham Festival bets.

Go to the bookmaker homepage and click 'Join' – this is usually in the top right corner of the page.

Fill in your personal details and choose a username and password, plus complete any security questions that are required.

Read and agree to the terms and conditions and click 'Sign Up' to create your account.

A screen may come up asking you for your preferred deposit method – choose your preferred method and input your details and you are ready to make a deposit and place some bets.

To bet on a Cheltenham Festival selection:

• Choose horse racing from the sports navigation
• Select your race
• Click the price you wish to take, which adds the selection to your betslip
• Enter your stake
• If your selection is correct, select 'place bet'

When signing up for a new online bookmaker account, be sure to take advantage of the generous sign-up and new customer offers – these range from bet credits, to free bets and are worth getting.

Best Cheltenham Festival betting sign-up offers for new customers

Below are some offers available with leading bookmakers for new customers ahead of the Cheltenham Festival . . .

• bet365: Place a £10 bet and get £50 in free bets for new customers at bet365

Minimum deposit requirement. Free bets are paid as Bet Credits and are available for use upon settlement of qualifying bets. Minimum odds, bet, and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply. 18+.

Check out all the offers available with this bookmaker in our bet365 review.

• Betfair: Place a £10 bet and get £30 in free bets

Place a minimum £/€10 bet on the Sportsbook on odds of minimum of 1/2 (1.5) and get £/€30 in free bets. Rewards valid for 30 days. SMS verification required. Only deposits via cards or Apple Pay will qualify. T&Cs apply. 18+.

Check out all the offers available with this bookmaker in our Betfair review.

• Paddy Power: Get up to £50 in free sports bets

Place a single £10 Sportsbook bet and get money back as a free bet if it loses. There are x 5 free bets available. Maximum refund per qualifying bet is £10. Only deposits made via cards will be eligible for the promotion (Apple Pay excluded). T&Cs apply. 18+.

Check out all the offers available with this bookmaker in our Paddy Power review.

• Coral: £20 free bet when you bet £5

18+. New UK & ROI customers only. Minimum deposit £5. Minimum first £5 bet at minimum odds of 1/2 to qualify for 1x £20 free bet. Certain deposit methods and bet types excluded. Free bet valid for seven days, stake not returned. Restrictions + T&Cs apply.

Check out all available Coral offers with our Coral review.

• Sky Bet: Get £20 in free bets when you place a £5 bet

New customers only. First single and each-way bet only. Fractional odds of 1/1 (decimal 2.0) or greater. 4 x £5 bet tokens. Free bet stakes not included in returns. Free bets exclude virtuals. Free bets are non-withdrawable. No free bet expiry. Eligibility restrictions. Further T&Cs apply. 18+.

Check out all the offers available with this bookmaker in our Sky Bet review.

• Ladbrokes: Bet £5 and get £20 in free bets

18+. New UK+IRE customers only. Certain deposit methods and bet types are excluded. Minimum first £/€5 bet within 14 days of an account registration at minimum odds of 1/2 to get 4 x £/€5 free bets. Free bets are available to use on selected sportsbook markets only. Free bets are valid for seven days, and the stake is not returned. Restrictions + T&Cs apply.

Check out all the offers available with this bookmaker in our Ladbrokes review.

• William Hill: Bet £10 get £30 in free bets

Play safe. From 00:01 on 13.04.2022. £30 bonus. New customers only. Minimum £10 stake on odds of 1/2 (1.5) or greater on the sportsbook. Further terms apply. 18+.

Check out all the offers available with this bookmaker in our William Hill review.

• Tote: Bet £5 and get £20 in free bets

New customers online only. Place your first bet on racing pools for a minimum of £/€5 and win or lose you will receive £/€20 Tote Credit. £/€20 Tote Credit rewarded as £/€10 redeemable against racing bets only and £/€10 redeemable against UK and Irish Placepot bets only. Tote Credit cannot be withdrawn, exchanged or substituted and expires after 7 days. Qualifying bet is the first racing pool bet added to the betslip. Ten to Follow, virtual and football bets do not qualify. Totewin will be the qualifying bet when a Totewin and a Toteplace.

Check out all the offers available with this bookmaker in our Tote review.

For a comprehensive compilation of the best betting offers around, take a look at our free bets microsite.

Cheltenham betting markets: how to bet on Cheltenham

There are lots of ways to get involved when betting on the Cheltenham Festival, starting with a straight win-only bet on one horse and including many options for multiple horses/races after that.

Below are some of the ways you might want to bet on the 2023 Cheltenham Festival:

• Single: with this bet you are backing a horse to win a specific race – the horse must win for the bet to be a success.
• Each-way bet: an each-way (e/w) bet is basically two bets – one bet is to win, the other is to place. As an each-way bet is two separate bets and you have to double your stake. You will receive a return on your bet if your selection wins but also if it places (finishes second, third, fourth or fifth, depending on each-way terms offered).
• Accumulator bet: the accumulator is the simplest form of multiple bet that exists. You can combine any number of selections and the unit stake that you choose is all you pay. There is just one betting line in an accumulator but all your chosen selections must win in order for there to be a return. You can combine horses to win separate Cheltenham Festival races in this type of bet.
• Trixie bet: a Trixie consists of four bets on three selections in different events, for example three doubles and one treble. Two or more selections must be successful to have a return. A £1 Trixie costs £4 (to cover all four bets).
• Yankee bet: a Yankee consists of 11 bets on four selections in different events, for example six doubles, four trebles and one four-fold accumulator. Two or more selections must be successful to have a return. A £1 Yankee costs £11. 
• Lucky 15 bet: a Lucky 15 is similar to a Yankee but also has singles included. It consists of 15 bets on four selections in different events, for example four singles, six doubles, four trebles and one four-fold accumulator. One or more selections must be successful to have a return. A £1 Lucky 15 costs £15.

How to read the odds at Cheltenham?

One of the most important parts of our Cheltenham Festival betting guide is how to understand odds because without this you won't know how to bet on Cheltenham.

Odds are used by bookmakers to determine the likelihood of a given outcome in a race. The odds quoted determine the probability of a particular outcome occurring. Understanding the odds is crucial before placing your Cheltenham Festival bets.

• At the most basic level, betting provides you with the ability to predict the outcome of a certain event. If your prediction is correct, you will win money.
• Betting odds allow you to calculate how much money you will win if you make a bet.
  • 9-1 on the Cheltenham Gold Cup: for every £1 you bet, you will win £9.
  • 4-1 on the Queen Mother Champion Chase: for every £1 you bet, you will win £4.
  • Even-money on the Arkle: for every £1 you bet, you will win £1.
  • 1-4 on the Champion Hurdle: for every £4 you bet, you will win £1.

Check our our Cheltenham Festival microsite for all the latest Cheltenham betting odds.

Cheltenham races to bet on

Here's our handy guide to the races on all four days at the Cheltenham Festival . . .

Day one races

1.30: Supreme Novices' Hurdle

2.10: Arkle Novices' Chase

2.50: Ultima Handicap Chase

3.30: Champion Hurdle

4.10: Mares' Hurdle

4.50: Boodles Juvenile Handicap Hurdle

5.30: National Hunt Chase

Day one is headlined by the Champion Hurdle, the Grade 1 two-miler for the fastest older hurdlers and this year set to be headlined by Nicky Henderson's Constitution Hill, the unbeaten star of jumps racing.

The Supreme Novices' Hurdle is the traditional festival curtain-raiser, while the Arkle and the Mares' Hurdle – the final racecourse appearance for the mighty Honeysuckle – complete the Grade 1 programme on Tuesday.

You can get all the latest tips for the first day of the festival on our Cheltenham day one tips page.

Day two races

1.30: Ballymore Novices' Hurdle

2.10: Brown Advisory Novices' Chase

2.50: Coral Cup

3.30: Queen Mother Champion Chase

4.10: Glenfarclas Cross Country Chase

4.50: Grand Annual Handicap Chase

5.30: Champion Bumper

The second day is Queen Mother Champion Chase day, a rapid-fire test of accurate jumping over two miles and a race steeped in festival tradition with wins this century from the likes of Moscow Flyer, Master Minded and Sprinter Sacre.

Back-to-back novice Grade 1s start the day, while the Glenfarclas Cross Country Chase is a unique event through the Cotswolds countryside and the final race, the Champion Bumper, is the only one of 28 at the meeting that doesn't involve jumping.

You can get all the latest tips for the first day of the festival on our Cheltenham day two tips page.

Day three races

1.30: Turners Novices' Chase

2.10: Pertemps Network Handicap Hurdle Final

2.50: Ryanair Chase

3.30: Stayers' Hurdle

4.10: Craft Irish Whisky Co. Plate

4.50: The Jack de Bromhead Mares' Novices' Hurdle

5.30: Fulke Walwyn Kim Muir Challenge Cup

Day three is Stayers' Hurdle day, the three-mile contest testing the stamina of some seasoned campaigners over timber. Preceding that is the Ryanair Chase, now vying for status as the day-three feature contest. The Turners Novices' Chase gets Thursday under way while the action closes with the Kim Muir Challenge Cup for amateur riders.

You can get all the latest tips for the first day of the festival on our Cheltenham day three tips page.

Day four races

1.30: Triumph Hurdle

2.05: County Handicap Hurdle

2.50: Albert Bartlett Novices' Hurdle

3.30: Cheltenham Gold Cup

4.10: St James's Place Festival Foxhunters Challenge Cup

4.50: Mares' Chase

5.30: Martin Pipe Conditional Jockeys' Handicap Hurdle

The centrepiece of the entire meeting is the Gold Cup, the most prestigious race in the National Hunt calendar and with a history that is a who's who of equine excellence, having been won by the likes of Golden Miller, Arkle, Best Mate and Kauto Star – to name but four.

The Triumph Hurdle for raw four-year-olds starts the final afternoon, while the big race is followed by the Foxhunters over the same course and distance only for amateur riders.

The Mares' Chase is the newest addition to the Cheltenham programme, while the curtain now comes down with the Martin Pipe Conditional Jockeys' Handicap Hurdle.

You can get all the latest tips for the first day of the festival on our Cheltenham day four tips page.

Which horse to bet on at Cheltenham?

Deciding which horse to back is no easy task, but it is a crucial part of knowing how to bet on Cheltenham races. Form students will study the formbook in great detail but, given the vast amount of talent on show, that can be turned upside down with horses trained to the minute to peak at this meeting.

So, which horse should you bet on at Cheltenham? Well, there are trends to be followed for almost every race – ranging from age, weight, experience and last-time-out performances to how the favourites have done in the same race over time.

There are 28 races which means 28 favourites, but history will point to less than 30 per cent of those winning, ensuring some punters like to take some value with horses at bigger prices in the market. The Cheltenham Festival attracts punters with varying degrees of racing knowledge, ensuring it's the formbook for some and, for others, maybe just the name that appeals most to them on the racecard. There's no wrong way to make a selection at this great meeting.

This year's Cheltenham Festival will start with Champion Hurdle day and Constitution Hill will be a red-hot favourite to give trainer Nicky Henderson a record-extending win in the race. He's the unbeaten star of the jumps scene right now and few will be predicting a defeat.

Delta Work, meanwhile, represents trainer Gordon Elliott and he will be defending his title in the Cross Country Chase on the Wednesday of Cheltenham.

Willie Mullins has trained more Cheltenham Festival winners than anyone else and he has the likes of Galopin Des Champs as favourite in the Gold Cup and Energumene bidding to defend his crown in the Queen Mother Champion Chase.

Could old boy Paisley Park roll back the years and win another Stayers' Hurdle? He'll certainly have his suitors, while former winner Minella Indo could bid to become only the second horse in history to win the Gold Cup, lose it, and then win it back (Kauto Star did it from 2007 and 2009).

Bet on Cheltenham through the Racing Post app

Now you're down with our Cheltenham betting guide, check out your one-stop shop for betting on the Cheltenham Festival – the new Racing Post app. This is the fastest and most in-depth offering so far from the industry leader.

Compare odds from all the top bookmakers and make bets directly through the apps integrated betting technology, read the free daily tips every day of Cheltenham and use the app for form study, with handy options for how much depth you want to go into based on your racing knowledge.

Get in deep, or simply find what the Racing Post's team of proven tipsters are backing.

Download the Racing Post app via all your favourite service providers here.

See more free bets and betting offers from our trusted partners to get a head start on your sports betting, or download our horse racing app to sign up for exclusive new customer offers. Commercial notice: This article contains affiliate links. Offers are handpicked and come from operators our experts have first-hand experience of. Opening an account via one of these links will earn revenue for the Racing Post, which will be used to continue producing our award-winning coverage of horseracing.