How Much Money is Bet on Cheltenham

08/03/2023 | Categories: Horse Racing | Published by: Andy Nelson

Updated: 19th September 2023

Few racing events are as rich as Cheltenham, one of the perennial highlights of the British racing calendar. Across the 28 events, there is an expectation that hundreds of millions of pounds will be bet over the course of the four days, and virtually everyone with a passion for racing will already be sniffing around to find their top tips for the festival this year.

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Cheltenham is prestigious for just that reason, with race prize money topping out ahead of all other events, bar the Grand National.

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With the stakes so high, it’s no wonder that the four days of Cheltenham are viewed with much anticipation every year.

How Much Was Bet on Cheltenham in 2022

While there is an expectation of hundreds of millions in bets over the festival every year, 2022 saw record breaking volumes.

Analyst expectations from last year reported over £1 billion in bets being staked over the 4 days of the 2022 festival, supported by data from OpenBet, which processes betting transactions for a large number of online bookies.

According to OpenBet, the 2022 festival saw £3.5 million bet on the Gold Cup, with as much as £500 million handled online – a 23% rise in betting volumes compared to the previous year’s festival.

With bookies like BoyleSports, and Betfred offering ever more competitive promos, free bets and incentives around Cheltenham, there is a legitimate expectation that 2023 could be another record-breaking year.

Cheltenham’s Biggest Bets

Within those total figures, there’s a wide range of Cheltenham betting activity – the majority of which is low level.

But the numbers also disguise some huge individual bets.

In 2012, Phil Williams, owner of Son of Flicka, backed his horse at chunky ante-post odds of 66-1, before watching him romp home to win the Coral Cup by three and a half lengths.

The bet reportedly landed Williams £900,000 in winnings, which is undoubtedly the icing on the cake for the former Crewe Alexandra midfielder.

Slightly further back in time, the 1990 Festival saw Norton’s Coin come in at 100-1 in the Gold Cup, netting punters millions on what remains one of the greatest upsets in the history of Cheltenham.

With 50-1 winners in 2019 and 2013 to boot, it’s safe to say there have been some monumentally considerable wins in the history of the Cheltenham Festival.

Bookies offering best odds guaranteed for Cheltenham, such as Rhino.bet, mean you can take advantage of these long-shot winners at the best possible prices – if only you manage to pick them out ahead of time.

This Year’s Cheltenham Betting Forecast

With Cheltenham seemingly growing year on year, and new online bookies like StarSports and Rhino.bet growing in confidence and reach, it seems odds on that 2023 will be the biggest betting year yet.

Expect volumes to exceed the £1 billion, with £1.2 billion in total bets far from beyond the realms of likelihood.

As arguably the richest four day meet of its kind in the UK, be sure to get your slice of the action by checking out the best UK bookmakers for Cheltenham, including our top picks Rhino.bet, StarSports and Betfred.