Limited Time Offer For The Festival

--

Days

:

--

Hours

:

--

Mins

:

--

Secs

Ultima Handicap Chase

Bet £10 & Get £30 in Free Bets

New customer offer at Bet365 - paid as Bet Credits

Claim £30 in Free Bets Now →

Use This Bonus Code

THEKING Copy

Day

Tuesday

Time

15:20

Grade

Premier Handicap

Distance

3m 1f

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. 18+. The bonus code THEKING can be used during registration, but does not change the offer amount in any way. Please gamble responsibly.

Ultima Handicap Chase 2026: Where To Bet?

Race Details:

Date: 2026.03.10
Grade: 3
Open To: Horses Aged Five and Older
Track: Turf
Length: 5,029 Metres
Location: United Kingdom


Ultima Handicap Chase 2026: Cheltenham Festival Betting Preview

Russell's Remarkable Record Under Scrutiny as the Opening Handicap Chase Takes Shape

Tuesday, 10 March 2026 | 3:20 PM | Cheltenham Racecourse, Prestbury Park, Gloucestershire

Premier Handicap | 3 Miles 1 Furlong (3m 1f) | Old Course | 20 Fences | 5yo+ | £175,000+

The Ultima Handicap Chase is the first big handicap puzzle of the Cheltenham Festival, and for punters who enjoy putting their form study to the test against a field of 24 battle-hardened staying chasers, it does not get much better than this. Officially registered as the Festival Trophy Handicap Chase and sponsored by Ultima Business Solutions since 2015, this Premier Handicap over three miles and a furlong on the Old Course is a genuine stamina test that has thrown up some of the biggest names in National Hunt racing. Royal Tan, Team Spirit, West Tip, Seagram, Rough Quest and Corach Rambler all won this race before going on to land the Grand National, and the 2026 renewal once again features several horses with Aintree ambitions.

The race has been dominated in recent years by one trainer above all others. Lucinda Russell, operating from her yard near Kinross in Scotland, has won three of the last four Ultimas. Corach Rambler gave her back-to-back victories in 2022 and 2023, and then Myretown followed up with an 11-length demolition of the field in 2025, making all the running under champion conditional Patrick Wadge at 7.50. That is an extraordinary record in a 24-runner handicap, and Russell returns in 2026 with both Myretown and Whistle Stop Tour entered, giving punters the tantalising question of which one carries the stable's best chance of making it four from five.

Meanwhile, the Ultima's status as a Grand National stepping stone brings another fascinating dynamic to the race. Iroko, the current Grand National favourite, is expected to use this as his Aintree prep run. Connections of several other runners have one eye on the National too. The result is a field packed with fit, well-handicapped staying chasers who all believe they belong, which is precisely why this race produces such memorable betting puzzles year after year.

The Defending Champion: Myretown

Time Stamp: Saturday, February 15, 2026, 5:00 PM ET

Odds Subject to Change

Source: Bet365

Myretown 8.00 | Iroko 11.00 | Meetingofthewaters 11.00 | Stumptown 11.00 | Whistle Stop Tour 12.00 | Konfusion 14.00 | Leave Of Absence 17.00 | Deafening Silence 17.00 | Jagwar 17.00

Myretown was arguably the most impressive winner at the 2025 Cheltenham Festival. Sent straight to the front by Wadge, the then eight-year-old set a strong gallop throughout and was never seriously challenged, pulling 11 lengths clear of The Changing Man in a performance that suggested he had far more ability than his official rating of 127 implied. That rating has since risen to 142, meaning he will carry around 15lb more than he did when winning, and that weight hike is the central question surrounding his defence.

The season has not been straightforward. Myretown took a crashing fall at the third fence in the home straight when favourite for the Coral Gold Cup at Newbury in November, and then in the Peter Marsh Chase at Haydock in January he was still travelling well when a bad mistake three from home effectively ended his chance. He rallied bravely to finish fourth, beaten three and a half lengths by Imperial Saint, but Peter Scudamore acknowledged afterwards that the horse "lives on the edge" with his jumping. Myretown was due to run in the Grand National Trial at Haydock this weekend, which should provide crucial evidence about his wellbeing heading into March.

The positives are clear. Russell's record in this race is almost without parallel. She targets it with the precision of a sniper, and her 50 per cent strike rate from six runners since 2022 is extraordinary in a 24-runner handicap. Myretown is now rated in the 139+ sweet spot that has produced 10 of the last 12 winners. He has already won at the course. He wants soft ground and is likely to get it. The concern, beyond the weight rise, is whether his jumping will hold together for 20 fences at Festival pace. Two blunders in two runs this season is not what you want to see heading into the most unforgiving handicap chase on the calendar.

Iroko: The Grand National Favourite Stops Off

Iroko brings the strongest form on raw ability of anything in the Ultima field, which is exactly what you would expect from the current 7.00 Grand National favourite. The Oliver Greenall and Josh Guerriero-trained eight-year-old ran a huge race behind subsequent King George winner The Jukebox Man on his seasonal reappearance, finishing just over two lengths behind in receipt of 3lb. He then beat the 154-rated Firefox comfortably in a Graduation Chase in December. Wind surgery before this season appears to have unlocked another gear, and his fourth in the 2025 Grand National already demonstrated he stays and handles the rigours of a big-field staying chase.

The question is whether Iroko will actually run in the Ultima or skip straight to Aintree. Betfair's Mike Norman highlighted him as his NRNB pick for the race at 11.00, reasoning that connections would almost certainly want one run before the National and the Ultima makes geographical and timing sense. If Iroko does turn up, his rating of around 155 would likely make him top weight or near it, and the trend there is concerning. Top weight has won only once this century, when Un Temps Pour Tout defied 11st 12lb in 2017. The last 10 top weights have a dismal record in the race.

However, a trainer like Greenall, who specifically targets big handicaps with his staying chasers, knows exactly how to prepare a horse for this type of test. And Iroko does have Cheltenham experience, finishing a close third in a handicap at the track two seasons ago. At 11.00, the Grand National favourite in one of the Festival's softer handicaps is not a price to dismiss lightly.

Whistle Stop Tour: The Russell Second String Worth a Close Look

When Lucinda Russell sends two to the Ultima, it is worth paying close attention to which one gets Derek Fox. Fox has won this race twice, both times on Corach Rambler in 2022 and 2023, and Patrick Wadge, who won on Myretown last year, was the stable's second jockey at the time. If Fox takes the ride on Whistle Stop Tour, as connections indicated before the season, that tells you something about where Russell believes her best chance lies.

Russell herself said in the lead-up to the 2025 Festival that she had been looking at this race for Whistle Stop Tour "for most of the season" and that the three-mile trip would suit him better than the two miles four furlongs he had been running over. He is described as an unexposed horse with an engine rather than a flashy type, and Russell noted that "those are the types you need for this race." An improving, unexposed staying chaser from the yard that has won three of the last four Ultimas, ridden by the jockey who has won two of the last four Ultimas, at a double-figure price? That profile has a lot to recommend it.

The Irish Contingent and the Market Movers

Irish-trained runners have a dreadful record in the Ultima, with just two winners in 56 years, the most recent being Dun Doire for Tony Martin in 2006. The Irish are 0 from 46 in the last 18 renewals. That is an extraordinarily powerful trend, and punters should think very carefully before backing any Irish-trained runner in this race.

Meetingofthewaters is the leading Irish hope at around 11.00. He won the Paddy Power Chase at Leopardstown in 2023 and finished third in the 2024 Ultima, which is decent course form. The Paddy Power Chase at Leopardstown has produced three placed Ultima runners in the last decade, so the trial form is there. But that 0 from 46 record is brutal, and even a horse with previous Cheltenham placed form has to overcome decades of Irish underperformance in this specific race.

Stumptown sits alongside Meetingofthewaters at the top of the early market at around 11.00, while Konfusion is an interesting contender at 14.00 after winning the Rehearsal at Newcastle and the Rowland Meyrick at Wetherby this season. Konfusion has improved dramatically from an opening seasonal mark of 115 to his current rating of 145, which puts him firmly in the winning zone. His third behind Imperial Saint in the Peter Marsh showed he handles Haydock, but Cheltenham is a different examination entirely.

Others to Consider

Leave Of Absence attracted attention after a good run in the Denman Chase and brings plenty of Cheltenham course experience, with form figures at the track that suggest he handles the undulations well. On better ground he could be a different proposition entirely.

Deafening Silence ran a creditable third in the Welsh National, a form line that has been franked since with the winner Haiti Couleurs taking the Denman Chase. At around 17.00, this is the type of under-the-radar, British-trained stayer that the Ultima has rewarded in recent years.

Jagwar, the 2025 TrustATrader Plate winner, is entered but has never raced over three miles and one furlong, and multiple sources have suggested the Plate again or even the Ryanair could be his Festival target. If he does line up in the Ultima, the step up in trip is a genuine concern, and his 9lb rise from last year's Plate victory means the handicapper has his measure.

Masaccio was briefly mentioned as a market leader for the Ultima but Alan King has confirmed the horse will run later in the week at the Festival, likely in the Plate rather than the opening-day marathon. That removes what was, on paper, one of the most interesting contenders from the equation.

Trends and Betting Outlook

Time Stamp: Saturday, February 15, 2026, 5:00 PM ET

Odds Subject to Change

Source: Bet365

The Ultima is unusual at the Cheltenham Festival in that it is one of the few races dominated almost entirely by British-trained runners. Irish trainers are 0 from 46 in the last 18 years. That trend alone eliminates a significant chunk of the ante-post market.

Ten of the last 12 winners were aged between seven and nine. All but one of the last 12 had run at Cheltenham before, with six of the last 10 having won at the course previously. Ten of the last 12 were rated 139 or higher. Eight of the last 12 carried between 10st 10lb and 11st 8lb. Top weight has won just once this century. Nine of the last 12 wore headgear. Trainers with poor records in the race include Venetia Williams (0 from 28), Paul Nicholls (0 from 17), Nigel Twiston-Davies (0 from 29), and Gordon Elliott (0 from 14).

The big positive signal is the Lucinda Russell/Derek Fox combination. Russell has won three of the last four. Fox has won two of the last four. If Fox rides Whistle Stop Tour, that combination represents the most reliable trend in the entire race. The question is whether the value has already been priced in.

Myretown at 8.00 is shorter than you would ideally want for a 24-runner handicap, especially given the weight rise and jumping concerns. He won off 127 last year and now carries a mark of 142, a 15lb hike that has historically been difficult for Ultima winners to overcome. Corach Rambler managed it, going from an initial rating of 140 in 2022 to 146 when winning again in 2023, but that was an exceptional horse who went on to win the Grand National.

The value play in this race could well be Whistle Stop Tour at 12.00, assuming Fox takes the ride. He fits the Russell profile of a progressive, unexposed staying chaser arriving at the Festival on an upward curve, which is exactly what Corach Rambler and Myretown were when they won. Alternatively, Iroko at 11.00 offers the intrigue of the Grand National favourite stepping into a handicap he could be well suited to, provided the weight does not anchor him.

Punters should also keep a watching brief on the Grand National Trial at Haydock this weekend. Myretown runs, and the manner of his performance there will either solidify or undermine his Ultima credentials. If he jumps cleanly and wins, his price will shorten significantly. If the jumping lets him down again, the market could drift, and the value may shift elsewhere in the Russell yard.

The weights are published on February 24th, and the picture will become considerably clearer once we know who carries what. Until then, this is a market worth monitoring rather than plunging into, with the Russell-trained pair, Iroko and Konfusion the four names to keep at the top of any shortlist.

Quick Reference: Key Odds

Time Stamp: Saturday, February 15, 2026, 5:00 PM ET

Odds Subject to Change

Source: Bet365

Myretown 8.00 | Trainer: Lucinda Russell & Michael Scudamore | Jockey: Patrick Wadge

Iroko 11.00 | Trainer: Oliver Greenall & Josh Guerriero | Jockey: Henry Brooke

Meetingofthewaters 11.00 | Trainer: TBC (IRE) | Jockey: TBC

Stumptown 11.00 | Trainer: TBC | Jockey: TBC

Whistle Stop Tour 12.00 | Trainer: Lucinda Russell & Michael Scudamore | Jockey: Derek Fox

Konfusion 14.00 | Trainer: Sue Smith & Joel Parkinson | Jockey: Callum Bewley

Leave Of Absence 17.00 | Trainer: TBC | Jockey: TBC

Deafening Silence 17.00 | Trainer: TBC | Jockey: TBC

Jagwar 17.00 | Trainer: Sam Greenall & Josh Guerriero | Jockey: TBC

2025 Ultima Handicap Chase Result (Festival Trophy Handicap Chase)

1st Myretown (7.50f) - Lucinda Russell / Patrick Wadge - OR 127

2nd The Changing Man (8.00) - Joe Tizzard / Brendan Powell

3rd Malina Girl (15.00) - N. Cromwell

24 ran | Distance: 11l

Last 5 Winners

2025: Myretown 7.50 (13/2f) - Russell

2024: Chianti Classico 7.00 (6/1) - Kim Bailey

2023: Corach Rambler 7.00 (6/1jf) - Russell

2022: Corach Rambler 11.00 (10/1) - Russell

2021: Vintage Clouds 29.00 (28/1) - Sue Smith

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 at 0808 8020 133. You must be 18+ to place a bet. Terms and conditions apply.


--

View more Horse Races