2027 Cheltenham Festival Betting Odds

Below you can read the odds of the favourite horse to win each race at the 2027 Cheltenham Festival.

Best Bookmaker for Cheltenham Festival Odds

Cheltenham Festival Jockey Odds For 2027

Although he is affiliated with Willie Mullins, Paul Townend is not odds-on to be top jockey in 2026. That is despite having ridden ten winners across the past two seasons. As a result, the top jockey betting is more exciting than it has been for many years.

Cheltenham Festival Trainer Odds For 2026

Having trained an extraordinary ten winners at the 2025 Cheltenham Festival, Willie Mullins is the clear favourite to win the top trainer award yet again in 2026.

Type of Bets You Can Place In This Year’s Cheltenham Festival

Win bet: A bet “on the nose” where you simply bet on a horse to win the race it competes in.

Each way: Represents two bets on the same horse: one to win and one to place. The one to win will be at the odds offered, the one to place will at either ¼ or ⅕ of the odds.

Straight Forecast: Picking the first two to finish in the correct order.

Reverse Forecast: Picking the first two to finish in either order.

Double: Picking two horses to win two separate races. Both must win for the bet to be successful. The odds will multiply depending on each horse’s individual price.

Treble: Picking three horses to win three separate races. This time, all three must win for the bet to be successful.

Patent: Picking three horses to win three separate races. A patent takes all the possible combinations of the trebles (1), doubles (3) and singles (3), to make seven bets. Because of this, only one has to win for one of those seven bets to be successful and the punter can make a return without all three horses having to win.

Accumulator: Picking four or more horses to win their respective races. Once again, all of them must win for the bet to be successful. This is the riskiest and unlikeliest bet to pull off, but can reward punters at potentially massive odds!

Lucky 15/31 etc.: Picking four/five or more horses to win separate races in a similar combination bet to a patent. This therefore includes the four-timer, all possible trebles (4), all doubles (6) and all singles (4), to make 15 bets. This goes up depending on how many horses you back: five will make a Lucky 31, six a Lucky 63 etc. Once again, only one horse has to win for a small return to be made.

Cheltenham Betting: Trustworthy Bookmakers Where You Can Place Your Bets

Our list of bookmakers with Cheltenham Festival offers will be updated in time for the 2026 Cheltenham Festival, with the majority of offers appearing in the two weeks building up to the main event.

Betting Guide: How to Read the Cheltenham Odds and Calculate Payouts

If you’re new to racing, you might not understand the odds and what it means to how much you could stand to win. We will try and break it down for you to give you a better understanding.

Essentially, the shorter a horses odds are, the more likely they are expected to win. You can work the likelihood of a horses chances of winning by looking at the odds:

• If a horse is 9/1 (10.0) you would do 1 / (9+1) = 0.1 – This means there is a 10% chance this event will happen.
• If a horse is 2/1 (3.00) you would do 1 / (2+1) = 0.33 – This means there is a 33% chance this event will happen.
• If a horse is 1/3 (0.33) you would do 3 / (3+1) = 0.75 – This means there is a 75% chance this event will happen.

A horses odds can be displayed in two different ways – Fractions or Decimals.

With Fractions, the number on the left shows you what you stand to win, and the right number shows what you would need to stake. For example, if a horse is 10/1, if you put £1 on, you stand to win £11 (£10 + your £1 stake returned).

• EXAMPLE – £5 stake on a horse with odds of 5/1 = £35 returns (£30 winnings + your £5 stake back).

With Decimals, you simply multiply how much you’re willing to bet by the decimal number odds shown for the horse. For example, if a horse is 3.0 and you wish to put £10 on the horse, you would simply do £10 x 3.0, which would equal £30.

• EXAMPLE – £5 stake on a horse with odds of 7.5 = £37.50 returns (5 x £7.50 = £37.50).

Who are this year’s Cheltenham Gold Cup Underdogs?

The Gold Cup is the feature race of the entire Cheltenham Festival, and has been won by plenty of racing greats over the years. However, there have been some shock results in recent times, none more so than odds-on favourite Galopin Des Champs’ quest for a third straight Gold Cup being foiled by Inothewayurthinkin, who scored at 15/2 in 2025.

With that in mind, we will review the outsiders with the best chances as we get closer to the 2026 Cheltenham Gold Cup.

Cheltenham Festival Favourites Vs Winners

Below are tables for the five Championship races to see the success rate of favourites in the race.

Gold Cup

5/10 of the favourites within the last decade have scored in the Gold Cup. That 50% strike rate is better than the overall success of favourites at the Cheltenham Festival, which stands at 29% in that time.

You would ultimately have made a marginal profit of 5.88 points to a level stake for backing the ten favourites courtesy of the victories of Don Cossack, Al Boum Photo, A Plus Tard and Galopin Des Champs

Of those winners who were not favourite, Sizing John and Native River were noticeably close to favouritism. Although Al Boum Photo was 12/1 when winning in 2019, the race was very open, so the biggest surprise relative to the market came when Minella Indo and Inothewayurthinkin won the race, the latter by beating the heavily odds-on Galopin Des Champs.

Champion Hurdle

There is a much higher success rate for favourites in the Champion Hurdle. Seven of the last ten winners have gone off as the market leader. Four of those went off at odds-on and Annie Power was the biggest-priced of those favourites at 5/2, signalling the strength of support for favourites in this race.

A punter supporting every favourite in that time would have made a little under a 4.75-point profit off an even stake across the last decade.

Of the other three winners, Buveur D’Air could not be considered a massive surprise in 2017, but the other two were seismic upsets. Espoir D’Allen scooted in as a five-year-old when three big guns (Apple’s Jade, Buveur D’Air and Laurina) all disappointed, but even that does not compare to the remarkable 2025 renewal.

Golden Ace won at 25/1, but only after odds-on favourite Constitution Hill had fallen at the top of the hill, while third favourite State Man tumbled at the last with the race at his mercy. Second favourite Brighterdaysahead underwhelmed completely, leaving the race with a 25/1, 66/1, 150/1 tricast.

Queen Mother Champion Chase

The Queen Mother Champion Chase is a fascinating case study. Remarkably, only two favourites have gone off at Evens or above in the last decade, both of whom were victorious.

Yet, many fewer favourites have won this than the Champion Hurdle despite seven of the market leaders going off at shorter prices than in the Tuesday highlight. Indeed, there have been eight odds-on favourites in the Champion Chase since 2015, but only one of those has won. This really is a graveyard for so-called “bankers”.

Favourite backers in the last decade would have made a 4.44-point loss on their bets, despite the incredibly short prices off which some have run. Un De Sceaux, Douvan, Defi Du Seuil, Chacun Pour Soi, Shishkin, El Fabiolo and Jonbon are all culpable of this crime.

That said, only Special Tiara was outside of the first three in the betting, having also won at the biggest price. Sprinter Sacre, Put The Kettle On, Energumene and Marine Nationale were all second in the market for the race.

Stayers’ Hurdle

The Stayers’ Hurdle has been the joint least successful for favourites, despite there having been three horses to have won this race three times since 2005.

Only three favourites have won the race since 2016, so like the Cheltenham Gold Cup, has a strike rate in keeping with favourites at the Festival overall. However, all three have gone off at particularly skinny prices.

Punters would be down a little under four points for a level stake in the last ten years had they backed all the favourites. Both Paisley Park and Unowhatimeanharry have been defeated at odds-on too.

The Stayers’ Hurdle has produced shocks more than any other feature race. Five of the last ten winners have gone off at double-figure prices, including Lisnagar Oscar at a whopping 50/1 in 2020 and the 11-year-old Sire Du Berlais at an almost-as-surprising 33/1 in 2023.

Ryanair Chase

Onne of the most profitable feature races for favourite backers has been the Ryanair Chase, in which five have won in the last ten years.

One of those was generously-priced as well, with Allaho going off at 3/1. Overall, that has led to a narrow 2.8-point profit had you backed each favourite in the last decade.

Only two favourites have gone off at odds-on, with Un De Sceaux losing in 2018 and Allaho winning at 4/7 in 2022. Meanwhile, three of the other five winners have been second in the market, with Un De Sceaux’s conqueror Balko Des Flos and Protektorat the only exceptions.