Cheltenham betting

It may have only finished a matter of weeks ago, but already, most online bookmakers have opened their books to accommodate a steady flow of Cheltenham festival betting for 2011.

Incredible as it may sound, Cheltenham betting has become a year-round phenomenon. Early predictions that Imperial Commander will win next year’s Gold Cup, for example, (he’s currently 6/1) has persuaded no fewer than 16 online bookmakers to offer prices on a race scheduled for 18 March 2011.

So why is Cheltenham betting is so popular? Granted, punters can have a bet on next year’s Grand National and several other iconic races, but those who fancy a bet on Cheltenham 2011 currently have no fewer than six races from which to choose with more than ten months to go before the first race takes place!

“Cheltenham betting has always caught punters’ attention,” explains Tom Peters, a veteran race-goer who has been betting on Cheltenham for over forty years. “People like to get their bets on early,” he says, “because they understand that prices will inevitably shorten prior to the ‘off’ at the next festival.”

Yet antepost betting has always been with us: what makes Cheltenham betting so different?

“Cheltenham festival betting has taken off over the past decade,” maintains Phil Brand of Irish Gaming magazine, “not least because of the internet. The online bookmaker who fails to offer early festival prices risks losing business and while predictions suggest most punters taking antepost prices are UK-based, I suspect that there’s a sizeable number of Irish punters who are prepared to stick their necks out and place their bets well in advance.”

Mr Brand has a point. Given the number of visitors to the festival from the Emerald Isle, it seems likely that Cheltenham betting is driven by a considerable number of them – many of whom will follow their selections throughout the year and, they hope, watch as their bets look even better value as prices invariably shorten.

Unlike yesteryear, today’s online bookmaker is able to offer prices in fresh Cheltenham betting markets almost a soon as a handful of trainers have made their intentions to race known, though as a reliable predictor of actual numbers, some of these very early declarations leave a little to be desired.

Nevertheless, the combination of internet availability, a willingness to place an early antepost bet and the appeal of one of the UK’s most prized sporting events ensures that Cheltenham betting is more likely to increase, not diminish, for the foreseeable future.