The golden rules for betting at the Cheltenham Festival

Do your research

Arm yourself with the best possible knowledge of the races by studying the form and analysing recent performances of the runners on the Racing Post website or app. With its punishing uphill finish, Cheltenham's testing course can favour certain horses, so understanding how each one handles the unique challenge is crucial. Cheltenham is gruelling, and undulating and unlike any other track, so the old maxim 'horses for courses' remains valid.

Taking it a step further, horses who have performed well at previous festivals often have an edge as they are familiar with the intense atmosphere as well as the demands of the track. Be alive to any significant changes to the ground conditions brought about by the weather as heavy rain can scupper some horses' chances and bring others into play.

Consider trainer and jockey records

Some trainers have an outstanding pedigree at the Cheltenham Festival, particularly in recent years with Willie Mullins dominating the four-day meeting. As well as respecting the big-name trainers, dig a bit deeper and find out the stables with good records in individual races, such as the handicaps. It's the same with jockeys too as their experience of success at the most highly prized meeting of the year can be pivotal. In the heat of battle, mistakes will be made and the best jockeys ride the best horses for a reason.

Nicky Henderson: has the best Cheltenham Festival record of any trainer in BritainCredit: Edward Whitaker

Stick to your budget

Sage advice for any type of betting and applicable to the four-day Cheltenham Festival, which is a marathon not a sprint. Set a clear budget for your betting activities and stick to it. You will have good days and bad days, but avoid chasing losses and bet only what you can afford to lose. You don't need to bet on every race, so be selective and seek out the best opportunities to suit your style of betting. The excitement of the festival can lead to impulsive betting, but you should take your time to make informed decisions and avoid betting under pressure or emotion. Above all, remember to keep the experience fun.

Take advantage of special offers

Bookmakers will be falling over themselves to get your business during the biggest betting week of the year, so look out for special offers during the festival. Typical offers include free bets for new and existing customers, money-back specials, boosted prices and enhanced each-way terms. Even on standard each-way terms, bookmakers can differ in what they offer, so it's worth comparing the places and fractions available, particularly in the big-field handicaps. Check out the Racing Post for the best offers

Take early prices on the day

One of the best times to place a Cheltenham Festival bet tends to be on the morning of each raceday. Bookmakers will be offering the best odds possible as they compete for business for the afternoon action. Try to place your bets with firms offering best odds guaranteed as that will give you peace of mind if your pick wins at a bigger starting price.  

The handicap races tend to attract big fieldsCredit: Edward Whitaker

It's fine to back more than one horse in a race

The Cheltenham Festival is the most competitive week of the jumps season with the vast majority of races featuring big fields. Handicap races such as the County Hurdle, Coral Cup, Fred Winter and Ultima are notoriously tricky for punters, so rather than backing one runner, consider splitting your stakes on two. Having a back-up plan tends to pay off. Don't be put off backing outsiders that might catch your eye either, because big-priced winners are common at the festival.

Vary your betting approach

Punters need to get creative at the big meetings, so as well as placing single bets with your regular bookmaker, it's worth making the most of the rich variety of bets available out there. For example, the Tote offers a wide range of exotic bets – my favourite being the Placepot – and exchange firms allow you to back and lay and often offer better value. Be careful not to overcomplicate things, though. You need to keep your betting simple and not get carried away as focusing on a select few races or horses can often yield better results.

Back your own judgement

There is so much noise around the Cheltenham Festival, you can find yourself overloaded with information and finding yourself taking on board other people's advice. While it makes sense to take advantage of the wide range of expert analysis and informed opinion on the Racing Post it's also advisable to do your own research and use the vast amount of intel to help inform your decisions. Trust your own eyes and don't get sucked in by speculation and hearsay.

Read more . . .

A beginners' guide to a day at the races 

The educational guide on how to bet on horseracing 

A race-by-race guide to the Cheltenham Festival 

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