Best Cheltenham 2023 Betting Offers & Festival Guide

Risk-Free Bet

When it’s done right, a risk-free bet is the best option. A risk-free bet is one whereby you can place a bet without having to use any of your own money. In the best-case scenario, this means you win real money with no withdrawal restrictions.

However, some bookmakers may instead award bonus credits, which you must wager a certain number of times before being eligible to withdraw.

Matched Free Bet

A popular incentive for new customers, you can expect to see lots of matched free bet offers during Cheltenham. This offer means the bookmaker matches your bet to a certain amount. For instance, a £50 bet on State Man to win the Champion Hurdle may mean you qualify for a £50 free bet.

Make sure you read the small print when claiming matched free bets, as some offers have strict terms and conditions.

Bet Refunds

Bet refunds are like a moneyback guarantee, where certain events mean you get your stake back either as cash or, more commonly, as a free bet.

For Cheltenham betting offers, you may see a bet refund such as ‘money back if your horse falls’. If you bet £10 on a horse that falls, you will receive a £10 free bet.

Qualifying Free Bet

Qualifying bets are like matched free bets, except not necessarily on a 1:1 ratio. Instead, you must place a qualifying bet to unlock a free bet.

For Cheltenham betting offers specifically, you may see something like ‘Bet £10 on the Cheltenham Gold Cup and get a £5 free bet’. Once you place a £10 bet on the biggest race of the week, you qualify for a £5 free bet.

Stake Returned as Free Bet

This is an increasingly common promotion, working in a similar way to bet refunds. However, with this type of free bet, bookmakers return your stake as a free bet. Again, this is usually based on an event.

For instance, you may receive an offer such as ‘Stake returned as a free bet if your horse finishes second’. These offers are often available for the biggest Cheltenham races.

Stake Not Returned

Most free bets follow the ‘stake not returned’ model but are known asother terms such as ‘bet credit’ or ‘free betting token’. With these types of free bets, you only receive the profit on your winning bet, but not the stake itself.

It’s a popular offer at UK horse racing betting sites, as it sways customers away from backing hot favourites and instead encourages them to take a punt on longshots.

Best Odds Guaranteed

When you make a Cheltenham bet with best odds guaranteed, you don’t need to worry as much about timing the market. Instead, you can place your bets and the bookmaker compares your price with the starting price. Whichever pays more is the price the bookmaker uses to calculate your return.

This is great if you bet on a favourite whose odds drift as it edges closer to the start time.

Faller & Fail to Finish Insurance

When a bookmaker offers faller insurance or fail to finish insurance, it means they return your stake if your horse fails to make it across the finish line. For instance, if the horse pulls up or falls at a fence.

This is a good backup, particularly if you’re betting a large amount on a favourite. But check the terms and conditions, as these insurance bets often have a maximum bet in place. And you may receive the insurance back as a free bet, instead of cash.

Enhanced Offers

Bookmakers use enhanced offers, or odds boosts, to encourage customers to bet on the biggest Cheltenham races. For instance, you may see an offer for a hot favourite like Tiger Roll to win at 20/1 instead of 2/1.

These offers can seem too good to be true, so check the terms and conditions to review the strict betting limits and confirm whether your return will be cash or a free bet.

Extra Places

If you know when to bet each way, one of the most lucrative betting offers for Cheltenham and other major racing festivals is the ‘extra places’ offer.

Depending on the bookmaker you choose and the number of runners, you may win when your selection places fifth, sixth, seventh and beyond. This increases your odds of betting on an outsider to place and winning some cash.

Through the Card

If you’re looking to stretch your balance and find something to keep you interested throughout Cheltenham, this betting offer is for you. Place a bet on the first qualifying race and the bookmaker will give you free bets on subsequent days throughout the festival.

If you’re just starting out and have concerns about investing too much but still want to be involved each day, this is the perfect promotion for you.

Non-Runner No Bet

It might not sound like the most exciting prospect, but a non-runner no bet offer at Cheltenham could save you a lot of money. If you bet on a horse that fails to race, the bookmaker returns your stake – which is only fair, if you ask us.

Cheltenham Course Form

Many horses return to Cheltenham year after year, and anybody who isn’t paying attention to a horse’s previous form is missing out on crucial information.

You only have to look at recent results in the Gold Cup to see how important this can be: Al Boum Photo won back-to-back in 2019 and 2020, then came third in 2021. Kauto Star won the Gold Cup in 2007 and 2009 (coming second in 2008), while Long Run took two consecutive third-place finishes directly after winning in 2011.

Cheltenham Handicaps

Picking a horse based on previous Cheltenham form alone isn’t enough; you must consider its current handicap. If a horse is perceived to have a far superior ability and terrific form over its competitors, it is more likely to receive a higher handicap and therefore will need to carry a higher weight, slowing it down during the race.

This keeps races competitive, helping to stop a select few horses blowing the rest away. Make sure you check out the list of handicaps, which are traditionally announced a couple of weeks before the festival.

Find Value Bets

Some races won’t offer much value. For instance, there may be only three or four horses with one being a red-hot favourite. For more value, bet on races with more horses.

You can also take advantage of Cheltenham betting offers like ‘extra places paid’, then bet on a horse with longer odds to place. You may receive a better return than backing the outright winner.

Check the Weather Forecast

Certain horses perform better in adverse conditions, and the weather can have a major impact on the outcome of races. The British weather is notoriously unreliable, so keep an eye on weather reports right up until the day of the race.

If there’s a hot favourite who prefers dry ground but will suddenly have to navigate a number of fences on a soaking wet course, you may want to consider backing an outsider to cause an upset.

Champion Hurdle Betting Trends

• All winners aged 5-9, with seven year olds being most successful
• All winners had previously run in a Grade 1 race
• In the last 10 years, the favourite has gone on to win 60% of the time
• Nicky Henderson (3) and Willie Mullins (3) have trained six of the last 10 winners
• All bar one of the last 10 winners had no headgear

Champion Chase Betting Trends

• 7-10 is the average age of winning horses, with nine year olds claiming the most wins
• All bar one winner had run four races or less that season prior to the Champion Chase
• All winners had a Grade 1 victory under their belts
• All winners had raced at Cheltenham two or more times previously
• Only one horse took down the Champion Chase as their first win of the season

Stayers’ Hurdle Betting Trends

• All winners aged 5-9, with seven-year-olds being most
• Most winners (8/10) had already run a race of three miles or more
• 50% of winners last ran in the Cleeve Hurdle
• Seven of the last 10 winners have been trained in Ireland
• All winners had won at least two hurdle races, having raced in four or more

Champion Chase Betting Trends

• 7-10 is the average age of winning horses, with nine-year-olds claiming the most wins
• All bar one winner had run four races or less that season prior to the Champion Chase
• All winners had a Grade 1 victory under their belts
• All winners had raced at Cheltenham two or more times previously
• Only one horse took down the Champion Chase as their first win of the season