'On every level it was a cracker' - Cheltenham Festival 'bucks trend' of poor off-course betting turnover

The Cheltenham Festival is said to have "bucked the trend" of poor betting turnover caused by the ongoing cost of living crisis and stringent affordability checks.

Ladbrokes and Coral recorded a year-on-year turnover increase for the final two days of the festival across their 2,500 betting shops and digital businesses and at one point on Thursday Ladbrokes hit a record number of bets per minute. Turnover was also up for Betfair, while Star Sports recorded an all-time high of online bets.

"Cheltenham has been deserving of the incredible build-up that we give it – it's a really big deal," said Simon Clare, PR director at Ladbrokes and Coral. "It was a really strong week. This year turnover in general has been down due to the impact of increased regulatory measures but the Cheltenham Festival bucked that trend.