The Cheltenham festival odds in ante-post markets for the main championship races are published months in advance of the meeting. We examine Cheltenham odds 2021 for the four-day fixture in March. The focus is on the Cheltenham odds for the four main championship races staged on each day of the meeting. However, all 28 Cheltenham races attract plenty of betting.

Cheltenham Odds

This table shows the latest Cheltenham results for the feature race on each day of the festival which took place from Tuesday, March 16 to Friday, March 19 in 2021:

Race Favourite SP
Champion Hurdle Honeysuckle 11/10 F
Champion Chase Put The Kettle On 17/2
Stayers’ Hurdle Flooring Porter 12/1
Gold Cup Minella Indo 9/1

*SP as per 19/03/21. 

At the time of writing, all the major trials have taken place so there are unlikely to be any significant changes to these Cheltenham odds. However, if one of the favourites in this table or another leading contender is withdrawn, bookmakers will amend the Cheltenham betting odds.

In addition to the Cheltenham odds for these Grade 1 races, bookmakers offer customers betting on the other graded races, handicaps, the bumper and cross country race. Check out the Cheltenham tips on all the races before placing a bet.

Where to find the best odds for the Cheltenham Festival

There are some bonuses that sit alongside the Cheltenham odds and this table shows one of the offers with three leading UK-facing online bookmakers:

Operator Cheltenham Bonus See Odds Now
bet365 Open Account Offer
Betfred Get Up to £30 in Free Bets + 60 Free Spins
William Hill Bet £10 Get £40 in Free Bets – Mobile

To see all Cheltenham Betting Offers, click here.

bet365 sign up offer: Up to £100 in Bet Credits for new customers at bet365. Min deposit £5. Bet Credits available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply. The bonus code BIGBET can be used during registration but does not change the offer amount in any way.
Betfred sign up offer: New UK & NI customers only. promo code ‘SPORTS60’. Deposit & place first sports bet of £10+ in one bet transaction, at odds of Evens (2.0) +. settled within 60 days. First bet must be on Sports. £30 in Free Bets credited within 48 hours of bet settlement, 7-day expiry. Payment restrictions apply. SMS validation may be required. Max 60 Free Spins on Justice League Comics. 7-day expiry.Full T&Cs apply.
William Hill sign up offer: 18+. Play safe. When you sign-up via Mobile using promo code N40 and place a bet of £10/€10 or more we will give you 4x £10/€10 free bets credited after settlement of first qualifying bet, free bets will expire 30 days after the qualifying bet is placed, payment method/player/country restrictions apply. Full T&Cs.

Cheltenham festival odds 2021cheltenham odds - 2022

Cheltenham Betting Offers

More Cheltenham Offers coming soon!

Cheltenham Betting Odds 2021

Here are examples of offers related to Cheltenham odds:

Best Odds Guaranteed (BOG)

Bookmakers offer Best Odds Guaranteed which enhances the Cheltenham odds. This promise generally applies to horse racing and greyhounds in the UK and Ireland so is valid during the Cheltenham festival. Bettors who take an early price or board price and the Starting Price (SP) is different will have bets settled at the best Cheltenham odds.

So, if the board price is 4/1 and the SP is 5/1, bets are settled at 5/1. Here is an illustration of the difference BOG can make:

  • £10 win at 4/1 returns £50.
  • £10 win at 5/1 returns £60.

The returns from a winning bet include the stake and that applies to BOG races and other races that do not have the guarantee. All meetings in the UK and Ireland feature BOG when bookmakers make this price promise. BOG is popular with many bookmakers and provides a good incentive for potential new customers to register, make a deposit and place bets at the latest festival odds.

BOG is introduced on the night before racing with some bookmakers and from 09.00 am on the day of the race with others. There are no wagering requirements and Cheltenham betting odds restrictions. However, there can be limits on what can be won as a result of the guarantee. The promise applies to win and each-way bets on all meetings, including Cheltenham.

Each Way

Bettors can place win and each way bets at the latest odds. A win bet is a single line bet on a horse to win a race. Each way bets are two bets: win and place. The total stake is twice the stake unit so a £10 each way bet costs £20. Each way betting on Cheltenham is popular, especially in races where a number of runners can be backed at big odds.

Each way bets are settled in line with standard place terms, depending on the type of race and number of runners. Each way Cheltenham betting odds are subject to the following place terms:

  • 1-4 runners: win only.
  • 5-7 runners: quarter win odds for 2 places.
  • 8 or more runners: fifth win odds for 3 places.
  • 12-15 runners in a handicap: quarter wins odds for 3 places.
  • 16 or more runners in a handicap: quarter win odds for 4 places.

Some bookmakers enhance their odds by offering extra places on selected races. For example, each way bets could be settled down to six places in high-profile handicaps. There will be extra places at the festival that sit alongside the Cheltenham odds. The extra places races are usually live on free-to-view television and are often competitive handicaps.

Ante Post

Bookmakers introduce ante post Cheltenham festival odds well in advance of the meeting. In fact, it is possible to bet on the four main championship races (Champion Hurdle, Champion Chase, Stayers’ Hurdle and Gold Cup) up to a full year before race day. The odds might be better than the Starting Price (SP) but generally, if a horse is withdrawn stakes are lost. Bettors are relying on getting better Cheltenham odds 2012 then one the day of the race.

However, several bookmakers introduce the Non-Runner/No Bet concession a few weeks before the meeting. This means a withdrawn horse counts as a non-runner and stakes are returned. Initially, this offer applies to the championship races listed above and then extended to all 28 races nearer the festival. The concession complements a full range of festival odds which change after the major trials and prep races.

Ante post betting is less popular than it was in the post. There is very little betting activity until three months before the festival. Bookmakers try to attract business by offering odds in ante post markets for most of the races. However, the big change in Cheltenham betting odds ante post markets comes when the non-runner/no bet concession is introduced. Bookmakers introduce this concession during February for the festival in March.

Real Time Odds: Play Live

Some bookmakers offer real time odds for races at Cheltenham. The odds are updated in running as the race develops. There can be huge price fluctuations as horses are prominent in the field and then tire and drop back. Cheltenham is a jumps meeting so there are hurdles and fences to be jumped. When a horse falls, unseats the riders or is brought down, the real time odds change for the other horses who are still in the race. Betting is available up to the closing stages of a race.

Fixed odds bookmakers and betting exchanges offer real time odds and live betting. There is also the cash out option which allows bettors to close bets before expiry. The injective is to guarantee a profit or limit the loos before the final outcome.

The cash out offer is calculated using the initial bet and betting at the time of the request to cash out the bet. There will be plenty of interest in live odds during the festival. Live TV coverage makes for more live play so several bookmakers update their betting markets during the Cheltenham races.