Safer Gambling at the Cheltenham Festival

Safer Gambling at the Cheltenham Festival

by John Cobb

Every fan of jump racing begins their countdown to the Cheltenham Festival starting at 365 and now the big moment has nearly arrived.
That heady sense of anticipation means those four days in the Cotswolds are treated like no others in the calendar. However, they should be treated in exactly the same way when it comes to adhering to the basic rules of safer gambling. Just as we might get carried away by overspending at Christmas and then wake up to a hefty credit card bill in January, so it’s important to remember to stick to a budget when it comes to Cheltenham so that our finances don’t get battered by festival frenzy.

Here are seven points to remember:

1. Set a daily spending limit and stick to it. You should set a deposit limit with each bookmaker you use and if you are hunting for the best prices and betting with several operators then always keep your overall limit at the forefront of your mind.
2. If you are ahead, stay ahead. If you are fortunate enough to have some early betting success you don’t have to play up your winnings in later races. Use your winnings to buy something tangible that will always remind you of your good luck on that day in March 2023.
3. If you are behind, accept it. These are some of the toughest races of the year in which to back winners and there is a good chance you will find yourself behind mid way through the first day. Remember, it isn’t any more likely that you will back the last three winners than it was you would back the first four.
4. Don’t bet in every race. There are plenty of races in which you may not have a strong view but feel obliged to place a bet just because it’s the festival. Take a breather and enjoy the spectacle – after all, these are the best jumps races of the year – and avoid beating yourself up with the post-race notion that you could have, would have, backed the winner.
5. Be sceptical about information. Don’t feel you have to back every ‘certainty’ you are told about in whispers from a friend who heard it from a mate whose brother went to a festival preview and got ‘the word’ from an insider.
6. Keep multiples to small stakes. Bringing off a big accumulator is a tantalising prospect but every selection you add tilts the percentages in the bookmakers’ favour. There is fun to be had with multiples to small stakes but it can be a long, painful afternoon when the first selection has gone down.
7. Remember to enjoy the week. This is supposed to be fun. It will be a lot less enjoyable if you are worried about your post-festival finances.