Cheltenham Festival 2026: How To Make Your Bet

How to Bet on the Cheltenham Festival 2026
A Beginner's Guide to the Biggest Week in Jump Racing

The Cheltenham Festival is the single biggest betting event on the UK racing calendar, and it's not even close. Four days, 28 races, tens of millions of pounds wagered, and an atmosphere that makes the Grand National look like a Tuesday afternoon at Kempton. The 2026 Festival runs from Tuesday 10th March to Friday 13th March at Cheltenham Racecourse in Gloucestershire. If you've never bet on it before, this guide covers everything you need to know to get started.

Sports-King has been covering Cheltenham for years, and every March we hear the same question from new readers: "I want to have a flutter on Cheltenham but I have no idea what I'm doing." Fair enough. Horse racing betting looks complicated from the outside. It's really not. By the time you finish reading this, you'll know what each day is about, what the main bet types are, what the key races are, and how to actually place a bet.

First Things First - You Need a Betting Account

You can't bet on Cheltenham without a bookmaker account. If you don't already have one, Bet365 is one option worth considering. They are one of the largest online bookmakers in the world. Their horse racing coverage is comprehensive, the app is well-built, they stream races live, and the range of markets they offer on Cheltenham is as deep as you'll find anywhere.

Bet365 are currently running a Bet £10 & Get £30 in Free Bets offer for new customers. The way it works is straightforward:

1. Open a new Bet365 account
2. Deposit £10 (debit card - e-wallets may not qualify; check current T&Cs)
3. Place a £10 bet on any sport at minimum odds of 1/5
4. Once that bet settles, you'll receive £30 in free bet credits

That gives you £30 to use across the four days of Cheltenham, which is suited to a beginner who wants to learn the markets without risking much of their own cash. The free bets are paid as Bet Credits, which means the stake isn't included in the returns - only your winnings get paid out.

Open Account Offer. Bet £10 & Get £30 in Free Bets for new customers at bet365. Min deposit requirement. Free Bets are paid as Bet Credits and are 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. Registration required. 18+.

The Four Days of Cheltenham - What Happens When

Cheltenham isn't just "four days of horse racing." Each day has its own identity, its own headline race, and its own vibe. Here's the short version.

Day 1 - Champion Day (Tuesday 10th March)

The opening day. This is the one that kicks off with the famous "Cheltenham Roar" - that wall of noise from the crowd as the first runners leave the stalls in the Supreme Novices' Hurdle at 1:20pm. The headline race is the Unibet Champion Hurdle at 4:00pm, a two-mile Grade 1 contest that crowns the best hurdler in training. Seven races in total on the day.

Day 2 - Ladies' Day (Wednesday 11th March)

The fashion stakes go through the roof on Wednesday, but the racing is just as serious. The feature event is the BetMGM Queen Mother Champion Chase at 4:00pm, a two-mile Grade 1 chase that's all about pure speed over fences. This race tends to produce some of the most spectacular racing of the week.

Day 3 - St Patrick's Thursday (Thursday 12th March)

The Irish take over on Thursday. The Guinness flows freely and the atmosphere is unlike anything else in British sport. Two big Grade 1 races on this day - the Paddy Power Stayers' Hurdle at 3:20pm and the Ryanair Chase at 4:00pm. For 2026, the Mares' Hurdle has been moved to Thursday as well, so it's a stacked card.

Day 4 - Gold Cup Day (Friday 13th March)

The big one. The Boodles Cheltenham Gold Cup at 4:00pm is the race that defines a horse's career. It's three miles and two furlongs of steeplechasing at the highest level, and the winner enters the history books alongside Arkle, Best Mate, and Kauto Star. Inotherwayurthinkin won it in 2025 as a dramatic supplementary entry and is among the early favourites to defend, with Fact To File currently heading the market. Gold Cup Day falls on Friday the 13th this year, which adds a nice bit of superstition into the mix.

Bet Types for Beginners - Keep It Simple

This is where most beginners get overwhelmed. Don't. You really only need to know about three or four bet types to enjoy Cheltenham. The exotic stuff can come later.

Win Bet - The simplest bet in racing. You pick a horse, and if it wins, you get paid. If it doesn't win, you lose your stake. That's it. There is absolutely nothing wrong with sticking to win bets all week if you are brand new to this.

Each Way Bet - This is the big one for Cheltenham. An each way bet is actually two bets in one. The first half backs your horse to win. The second half backs it to place (usually top 2, 3, or 4 depending on the number of runners). So if your horse finishes, say, third, the win part loses but the place part still pays. It costs double the stake - a £5 each way bet costs £10 - but it gives you a partial return if the horse doesn't quite win. Each way betting is popular at Cheltenham, especially in the bigger handicap races where longshots regularly hit the frame.

Accumulator (Acca) - A single bet that combines selections from multiple races. All of your picks need to win for the bet to pay out. The appeal is that the odds multiply together, so a small stake can produce a much bigger return if every leg comes in. The downside is significant - one loser kills the whole bet. Bet365 run an Accumulator Bonus on horse racing that adds extra percentage to your winnings the more selections you add, which is worth knowing about.

Ante-Post Betting - This means betting before the day of the race. You can bet on the Gold Cup right now, weeks before the Festival starts. The odds will generally be bigger ante-post because there's more uncertainty - your horse might not even run. Most ante-post bets are non-refundable if your selection doesn't take part, so bear that in mind.

How to Actually Place a Bet on Bet365

This is the bit nobody ever explains, and it puts a lot of people off. So here's a quick walkthrough.

Once you've opened your Bet365 account and deposited funds, head to the Horse Racing section. During the Festival, Cheltenham is plastered all over the homepage anyway, so it's easy to find. Click into the race you want to bet on. You'll see the full list of runners with their odds next to each horse. Tap on the odds of the horse you want to back and it'll be added to your bet slip. Enter your stake, choose whether you want a win bet or each way, and hit "Place Bet." That's all there is to it.

If you're using the Bet365 app - which is well-suited to live racing coverage - the process is identical. Bet365 streams most Cheltenham races live through the app, so you can watch the race unfold right after placing your bet. You do need a funded account or to have placed a bet in the last 24 hours to access the live streams.

Tips for Your First Cheltenham

Here's the abbreviated version for someone who just wants to enjoy the week.

Set a budget before the Festival starts and stick to it. Decide what you're comfortable losing across the four days, because losses are a real possibility - that's the reality of betting. If you've claimed the Bet365 free bets, those can be used for early races to see how things go before dipping deeper into your own funds.

Don't just back the favourite in every race. Favourites at Cheltenham have a win rate of roughly 30-35%, which means they lose more often than they win. This isn't flat racing where the best horse usually wins. National Hunt racing is chaotic. Horses fall. Jockeys make mistakes. The ground plays havoc with some runners. The price on the favourite is rarely the best value because most of the public has already backed it. Have a look at the races beforehand, read some previews, and consider going against the crowd when the case is there.

Each way bets in handicap races are popular for a reason. The big handicaps at Cheltenham - races like the County Hurdle, the Martin Pipe, the Coral Cup - have large fields and regularly throw up 20/1, 33/1, even 50/1 place finishers. An each way bet on a longshot in one of these races can return a decent amount even if it doesn't win - though there's no guarantee any horse will hit the frame.

What Bet365 Offers for Cheltenham

Bet365's Cheltenham coverage includes the £30 in free bets for new customers, plus a range of Cheltenham-specific promotions during the Festival - early payout offers, race streaming, and enhanced odds on selected markets. The Bet365 app also includes Cash Out on a wide range of bets - so if your horse is leading going to the final fence and you'd rather settle the bet for the offered Cash Out value than wait for the result, the option is there. Whether to take Cash Out or let the bet run is a judgement call - the displayed value carries the sportsbook's margin and is always less than the full payout would be.

Their Bet Builder feature for racing lets you combine different selections within the same race, and the in-play betting during races is rapid. For someone new to racing, having the ability to watch the race live, use Cash Out mid-race, and start with free bets to learn the markets - all in one place - makes the learning curve a bit gentler.

The Short Version

Cheltenham runs March 10-13. Four days, 28 races, Gold Cup on the Friday. Open a Bet365 account, bet £10, get £30 in free bets. Stick to win bets and each way bets until you're comfortable. Set a budget. Don't blindly back favourites. Watch the races live on the app. And most importantly, treat it as entertainment - because when the Cheltenham Roar hits on Tuesday afternoon, there is nothing else in sport quite like it.

Open Account Offer. Bet £10 & Get £30 in Free Bets for new customers at bet365. Min deposit requirement. Free Bets are paid as Bet Credits and are 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. Registration required. 18+.

Please gamble responsibly. Betting should be enjoyable and never seen as a way to make money. Only bet what you can afford to lose. If you feel that gambling is becoming a problem, help is available. Visit www.gambleaware.org or call the National Gambling Helpline on 0808 8020 133. 18+ only. T&Cs apply.