Approach to betting for the festival

Ante-post, on course, online, NRNB, on the day - there are many options when it comes to betting for the festival and I guess it's very much horses for courses - pun intended.

Antepost

The consensus is that the ante-post markets are not what they were. In the past you were able to get the balance on the risk of your horse not making the race by getting what should be a better price. As I write this article in early August, Gaelic Warrior is 9/4 to win the Gold Cup antepost. I'll be against this horse for the race and will provide a special article on the reasoning. Regardless that is a ludicrous price at this stage and not one I would go near.

There are certain horses you'll be fairly sure will run in a particular race but how often on the weekend prior to the festival are we looking for a decision from W P Mullins? Last year it was the usual Supreme or Turners (artist formally known as the Ballymore) and also will Lossiemouth go for the Champion Hurdle. If the best trainer at Cheltenham is making his mind up that late in the day, what chance the punter in getting it right months before the "Cheltenham Roar"?

Antepost for me is a bit of fun and not for serious betting. I was very fortunate in the past to have a £5 antepost treble on Put The Kettle On (14/1) Monkfish (8/1) and Minella Indo (10/1) for £10,000.

On Course

There is certainly no shortage of bookmakers on course at the festival with whom to place a bet. Although busy at times, my experience has been that many people on course are choosing other options and the on-course bookmakers are less active.

When it comes to place betting you generally won't get great conditions on the course. Typically the bare minimum first three and first four in a 16+ runner handicap.

One of the joys in placing a bet is feeling you have managed to obtain the best odds. Going around the various boards to spot the extra point or fraction is part of the fun. My experience, sadly, is there is much less variability in the on-course bookmakers' prices. I'd go as far as to say some don't appear to want business, as the board has the worst prices for many in a given market.

If you do want to have a bet on the course I would recommend only when you are betting win only and do walk around to get the best possible odds.

Online

The convenience of online betting makes it the first choice for the majority. During festival week, there is a plethora of offers from all major bookmakers. It's worth having accounts with a number of the major online providers to allow you to get the best value for the selections you have.

Many bookmakers offer enhanced place terms, for example first five and sometimes first six for big field handicaps, which is a major differentiator from the on course options.

The other element with online is the ability to cash out in the event you have a change of heart or get some new information.

My personal preference is Bet365 for their odds and offers as well as the mobile website ease of use.

NRNB

The middle ground between antepost and on the day is when Non Runner No Bet (sometimes called Non Runner Money Back) becomes available. In 2026, this seemed to be much later than in prior years, and it does provide the option to get early value where you have a selection.

The timing of NRNB is key, especially when you have Cheltenham Trials Day, which includes the Timeform Novices' Chase—more on that in our race trends focus article—as well as the Dublin Racing Festival in early February. If you have a strong fancy and NRNB is available, it's often advantageous to get a bet on prior to the Trial or DRF race where your selection is running.

My preference is to use NRNB in the lead-up to the festival. Typically, I'll have 80%-90% of my bets placed online before the tape goes up—or more likely the flag is raised for a false start again—thanks, Robbie ;-) Seriously, in 2026 I found that early selections provided significantly better value than waiting until the day of the race.

Conclusion

It's very much down to personal preference as to which option works for you. There is little doubt the value is with online, where there are often improved terms and, in many cases, better odds. If you are at the course, shop around and be careful if doing each way, as place terms are generally restrictive in comparison to online. Antepost is high risk and not necessarily high reward and not for me unless for small stakes.

NRNB is a good middle ground and can work well for early selections prior to the major prep races.

Whatever you do, always gamble responsibly. https://www.gambleaware.org/

Happy racing!