2024 Cheltenham Festival Betting Odds

Among the popular favourites for the 2024 Cheltenham Festival are Constitution Hill (Champion Hurdle), Delta Work (Cross Country Chase), Fact To File (Turners Novices’ Chase) and Galopin Des Champs (Gold Cup). Below you can read the odds of the favourite horse to win each race at this year’s Cheltenham Festival.

RaceHorseBest Odds
Supreme Novices’ HurdleBallyburn2/1
Arkle ChaseMarine Nationale5/2
Ultima Handicap ChaseChianti Classico10/1
Champion HurdleConstitution Hill1/3
Mares’ HurdleLossiemouth9/4
Boodles Handicap HurdleBatman Girac7/1
National Hunt ChaseEmbassy Gardens10/3
Ballymore Novices’ HurdleBallyburn3/1
Brown Advisory Novices’ ChaseFact To File7/2
Coral CupLanger Dan10/1
Champion ChaseEl Fabiolo1/2
Cross Country ChaseConflated7/2
Grand Annual ChaseMy Mate Mozzie8/1
Champion BumperJeroboam Machin5/1
Turners Novices’ ChaseFact To File2/1
Pertemps Final HurdleIcare Allen8/1
Ryanair ChaseBanbridge11/4
Stayers’ HurdleTeahupoo4/1
Plate Handicap ChaseInothewayurthinkin10/1
Mares Novices’ HurdleJade De Grugy3/1
Kim Muir Challenge CupGood Time Jonny10/1
JCB Triumph HurdleSir GinoEvs
County HurdleIberico Lord12/1
Albert Bartlett Novices’ HurdleHigh Class Hero8/1
Cheltenham Gold CupGalopin Des Champs10/11
Hunters’ ChaseFerns Lock10/3
Mares’ ChaseDinoblue11/8
Martin Pipe HurdleHarvard Guy12/1

Who are this year’s Cheltenham Festival 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, including 20/1 shot Lord Windemere winning in 2014 and Al Boum Photo winning his first Gold Cup in 2019 at odds of 12/1. In fact, the first three home in 2019 were Al Boum Photo (12/1), Anibale Fly (22/1) and Bristol De Mai (18/1), which just goes to show it can often pay to side with one of the underdogs!

With that in mind, we will review the outsiders with the best chances as we get closer to the 2024 Cheltenham Gold Cup.

Cheltenham Festival Jockey Odds For 2024

Paul Townend2/5
Jack Kennedy4/1
Nico De Boinville10/1
Mark Walsh10/1
Rachael Blackmore14/1
Harry Cobden16/1
Danny Mullins20/1
Patrick Mullins25/1

Cheltenham Festival Trainer Odds For 2024

Willie Mullins1/6
Gordon Elliott5/1
Nicky Henderson8/1
Paul Nicholls25/1
Henry De Bromhead50/1
Dan Skelton66/1

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

Here is a list of Bookmakers with Cheltenham Festival offers:

Sky Bet

This year Sky Bet is offering a Non-Runner No Bet offer. Basically, you get your money back as cash if you lose. You can check out the Sky Bet Cheltenham Offer here.


Matchbook has a great offer for new customers for this year’s Cheltenham Festival. You get up to £50 in free bets when you bet £25 or more on horse racing at odds of 1.8 or more. The offer is available starting 6th of March and ends on the 13th of March. Claim the Matchbook Cheltenham offer here.


Might not be as popular as the other bookmakers above, but they are a new name likely to have a significant number of excellent Cheltenham Festival 2024 odds.


Betfair will be running a Bet 10 Get 10 offer on multiples, on each of the six weekends leading up to the Cheltenham Festival. The same offer is available on each day of the festival from the 14th of March to the 17th of March


BetUK’s Cheltenham offer for this year is a Bet 20 Get 60 in Free Bets offer.

We will continue to update this section as more offers are announced by top UK bookmakers

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) = 0.10 – 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) = 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).

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

YearFavourite/odds/finishing positionWinner (odds)
2023Galopin Des Champs (7/5) (1st)Galopin Des Champs (7/5)
2022A Plus Tard (3/1) (1st)A Plus Tard (3/1)
2021Al Boum Photo (9/4) (3rd)Minella Indo (9/1)
2020Al Boum Photo (100/30) (1st)Al Boum Photo (100/30)
2019Presenting Percy (100/30) (8th)Al Boum Photo (12/1)
2018Might Bite (4/1) (2nd)Native River (5/1)
2017Djakadam (3/1) (4th)Sizing John (7/1)
2016Don Cossack (9/4) (1st)Don Cossack (9/4)
2015Silviniaco Conti (3/1) (7th)Coneygree (7/1)
2014Bobs Worth (6/4) (5th)Lord Windermere (20/1)

4/10 of the favourites within the last decade have scored in the Gold Cup. That 40% strike rate is better than the overall success of favourites at the Cheltenham Festival, which stands at 29% in that time.

Unlike in the other Championship races, there have been no odds-on favourites in that time either. You would ultimately have made a marginal profit of 3.98 points to a level stake for backing the 10 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, Coneygree, 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 surprises relative to the market came when Synchronised, Minella Indo and, in particular, Lord Windermere won the race. He is also comfortably the highest-priced winner in that time.

Champion Hurdle

YearFavourite/odds/finishing positionWinner (odds)
2023Constitution Hill (4/11) (1st)Constitution Hill (4/11)
2022Honeysuckle (8/11) (1st)Honeysuckle (8/11)
2021Honeysuckle (11/10) (1st)Honeysuckle (11/10)
2020Epatante (2/1) (1st)Epatante (2/1)
2019Apple’s Jade (7/4) (6th)Espoir D’Allen (16/1)
2018Buveur D’Air (4/6) (1st)Buveur D’Air (4/6)
2017Yanworth (2/1) (DQ)Buveur D’Air (5/1)
2016Annie Power (5/2) (1st)Annie Power (5/2)
2015Faugheen (4/5) (1st)Faugheen (4/5)
2014Hurricane Fly (11/4) (4th)Jezki (9/1)

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 5.2-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, while the fact Hurricane Fly was an 11/4 favourite in 2014 suggests how uncertain that market was when Jezki won. The big surprise came in 2019, when Espoir D’Allen scooted in at 16/1.

Queen Mother Champion Chase

YearFavourite/odds/finishing positionWinner (odds)
2023Energumene (6/5) (1st)Energumene (6/5)
2022Shishkin (5/6) (PU)Energumene (5/2)
2021Chacun Pour Soi (8/13) (3rd)Put The Kettle On (17/2)
2020Defi Du Seuil (2/5) (4th)Politologue (6/1)
2019Altior (4/11) (1st)Altior (4/11)
2018Altior (Evs) (1st)Altior (Evs)
2017Douvan (2/9) (7th)Special Tiara (11/1)
2016Un De Sceaux (4/6) (2nd)Sprinter Sacre (5/1)
2015Sprinter Sacre (9/4) (PU)Dodging Bullets (9/2)
2014Sire De Grugy (11/4) (1st)Sire De Grugy (11/4)

The Queen Mother Champion Chase is a fascinating case study. Remarkably, only three favourites have gone off at odds against in the last decade.

Yet, fewer favourites have won this than the Champion Hurdle despite six 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 2012, but only two of those have won. 

Favourite backers in the last decade would have made a narrow loss on their bets, despite the incredibly short prices off which some have run. Un De Sceaux, Douvan, Defi Du Seuil, Chacun Pour Soi and Shishkin are all culpable for 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 and Energumene in 2022 were all second in the market for the race.

Stayers’ Hurdle

YearFavourite/odds/finishing positionWinner (odds)
2023Teahupoo (9/4) (3rd)Sire Du Berlais (33/1)
2022Klassical Dream (11/4) (5th)Flooring Porter (4/1)
2021Paisley Park (9/4) (3rd)Flooring Porter (12/1)
2020Paisley Park (4/6) (7th)Lisnagar Oscar (50/1)
2019Paisley Park (11/8) (1st)Paisley Park (11/8)
2018Sam Spinner (9/4) (5th)Penhill (12/1)
2017Unowhatimeanharry (5/6) (3rd)Nichols Canyon (10/1)
2016Thistlecrack (Evs) (1st)Thistlecrack (Evs)
2015Saphir Du Rheu (5/1) (2nd)Cole Harden (14/1)
2014Annie Power (11/8) (2nd)More Of That (15/2)

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

Only two favourites have won the race since 2014, so like the Cheltenham Gold Cup, has a strike rate in keeping with favourites at the Festival overall. However, both have gone off at particularly skinny prices.

Punters would be down over five 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 seven winners have gone off at double-figure prices, including Lisnagar Oscar at a whopping 50/1 in 2020 and Sire Du Berlais at an almost-as-surprising 33/1 last season.

Ryanair Chase

YearFavourite/odds/finishing positionWinner (odds)
2023Shishkin (Evs) (2nd)Envoi Allen (13/2)
2022Allaho (4/7) (1st)Allaho (4/7)
2021Allaho (3/1) (1st)Allaho (3/1)
2020A Plus Tard (7/4) (3rd)Min (2/1)
2019Footpad (7/2) (8th)Frodon (9/2)
2018Un De Sceaux (8/11) (2nd)Balko Des Flos (8/1)
2017Un De Sceaux (7/4) (1st)Un De Sceaux (7/4)
2016Vautour (Evs) (1st)Vautour (Evs)
2015Don Cossack (5/2) (3rd)Uxizandre (16/1)
2014Dynaste (3/1) (1st)Dynaste (3/1)

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

Two of those have been generously-priced as well, with Dynaste and Allaho going off at 3/1 or higher. Overall, that has led to a 4.3 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 last year. Meanwhile, three of the other five winners have been second in the market, with Un De Sceaux’s conqueror Balko Des Flos and Uxizandre the only exceptions.