How to Bet on the 2026 Cheltenham Festival: The Complete Australian Guide
25/02/2026|Giovanni Angioni|Horse Racing News
The Cheltenham Festival is to jumps racing what the Melbourne Cup Carnival is to the flat. Four days of the best horses, jockeys, and trainers in National Hunt racing going at it in the Gloucestershire countryside, with the Cheltenham Gold Cup as the centrepiece.
The 2026 edition runs from Tuesday 10 March to Friday 13 March, and the storylines are already writing themselves.
Defending Gold Cup champion Inothewayurthinkin suffered a heavy fall in the Irish Gold Cup at Leopardstown in early February, throwing the staying chase division into chaos.
Two-time winner Galopin Des Champs faded to third in that same race, beaten by stablemates Fact To File and Gaelic Warrior.
In the Champion Hurdle division, Brighterdaysahead turned the tables on Lossiemouth in the Irish Champion Hurdle, while Majborough demolished his Dublin Chase rivals to emerge as the new Champion Chase favourite. The form book has been torn up, which is exactly why punters love this meeting.
This guide breaks down everything Australian punters need to know: the key races, prize money, betting markets on Sportsbet, contenders, how to watch from home, and the angles that can give you an edge.
What Is the Cheltenham Festival?
The Cheltenham Festival is one of the biggest horse races by attendance, worldwide. It's a four-day National Hunt horse racing meeting held every March at Cheltenham Racecourse (Prestbury Park) in Gloucestershire, England.
It has been running in some form since the early 1900s, and the Gold Cup itself dates back to 1924. The meeting expanded from three days to four in 2005, and now features 28 races across the week, including 14 at the top Grade 1 level.
Each day carries its own identity:
- Tuesday is Champion Day, headlined by the Champion Hurdle.
- Wednesday is Ladies Day, with the Queen Mother Champion Chase as the feature.
- Thursday is St Patrick's Thursday (a nod to the massive Irish contingent), featuring the Stayers' Hurdle and the Ryanair Chase.
- Friday is Gold Cup Day, where the festival builds to its climax with the Boodles Cheltenham Gold Cup at 4pm UK time.
The meeting draws over 250,000 people across the four days, and hundreds of millions of pounds are wagered.
The rivalry between Irish and British trainers adds a fierce competitive edge, with the Prestbury Cup awarded to the nation with the most winners. Ireland has dominated recently, taking the last six Prestbury Cups, largely driven by Willie Mullins' astonishing stable.
For Australian punters, jumps racing might not be in the mainstream the way flat racing is, but the Cheltenham Festival represents the absolute pinnacle of the sport.
The Gold Cup carries the cultural weight of a Melbourne Cup, even if the prize money doesn't quite match up - as this does not get close to what's on tap at the richest horse races in the world.
Cheltenham Festival 2026: Key Details
- Dates: Tuesday 10 March to Friday 13 March 2026
- Venue: Cheltenham Racecourse (Prestbury Park), Gloucestershire, England
- Races: 28 races over four days (seven per day), including 14 Grade 1s
- First race each day: 1:20pm UK time (12:20am AEDT)
- Last race each day: 5:20pm UK time (4:20am AEDT)
- Feature race times: 4:00pm UK time (3:00am AEDT) each day
- Total prize money: Approximately £5 million (around A$9.8 million)
- Gold Cup purse: £625,000 (£351,687 to the winner)
- Broadcast (UK): ITV Racing (free-to-air, 24 of 28 races), Racing TV (all 28 races)
- Broadcast (Australia): Sky Racing, Racing.com (check local listings closer to the event)
Cheltenham Festival 2026 Prize Money
The Cheltenham Festival doesn't have a single mega-purse race like the Saudi Cup or Dubai World Cup. Instead, the money is spread across 28 contests, with the richest races concentrated around the four championship events.
The 2025 Festival set a record with £4.93 million in total prize money, and the 2026 edition nudges past the £5 million mark for the first time.
The Gold Cup leads the way at £625,000, making it the most valuable non-handicap jumps race in Britain and Ireland after the Grand National.
The winner pockets £351,687, with prize money distributed down to fifth place. The Champion Hurdle (£450,000), Queen Mother Champion Chase (£400,000), Ryanair Chase (£375,000), and Stayers' Hurdle (£325,000) round out the top five.
For Australian context, the Gold Cup purse of around A$1.22 million is roughly equivalent to a Group 2 race in Melbourne. But prestige and prize money are two very different currencies in jumps racing.
Trainers and owners routinely describe a Cheltenham Festival winner as the pinnacle of the sport, worth far more to a horse's reputation and breeding value than the cheque itself.
Championship Race Purses
- Cheltenham Gold Cup (Friday, 4:00pm): £625,000
- Champion Hurdle (Tuesday, 4:00pm): £450,000
- Queen Mother Champion Chase (Wednesday, 4:00pm): £400,000
- Ryanair Chase (Thursday, 3:20pm): £375,000
- Stayers' Hurdle (Thursday, 4:00pm): £325,000
Other Notable Purses
- Arkle Novices' Chase (Tuesday): £200,000
- Brown Advisory Novices' Chase (Wednesday): £200,000
- National Hunt Novices Chase (Tuesday): £200,000
- Supreme Novices' Hurdle (Tuesday): £150,000
- Triumph Hurdle (Friday): £150,000
- Albert Bartlett Novices' Hurdle (Friday): £150,000
The Jockey Club has steadily increased prize money year on year, with particular focus on boosting the handicap races to attract deeper, more competitive fields. Even the Festival Hunter Chase, the smallest purse of the week at £50,000, carries enormous prestige.
The Four Championship Races Explained
The Festival's four championship races are its backbone. Each one crowns a divisional champion, and winning any of them cements a horse's legacy. Here's what Australian punters need to know about each.
Champion Hurdle (Tuesday, 4:00pm UK / 3:00am AEDT)
The championship race for two-mile hurdlers. Hurdles are smaller obstacles (around 3 feet 6 inches) compared to steeplechase fences, and the emphasis is on speed and fluency rather than raw jumping power.
The Champion Hurdle has been won by some of the all-time greats: Istabraq, Hurricane Fly, and more recently Constitution Hill.
The 2025 renewal was chaotic. Constitution Hill fell for the first time in his career, State Man unseated at the final flight while leading, and 25/1 shot Golden Ace picked up the pieces. That wide-open result has carried into 2026, with no clear-cut favourite.
Brighterdaysahead stormed to victory in the Irish Champion Hurdle at Leopardstown in February, beating Lossiemouth by three and a quarter lengths on heavy ground.
That performance pushed her to the head of the market, with Lossiemouth and Sir Gino (who hasn't raced since his impressive Christmas Hurdle win at Kempton) also prominent. Constitution Hill is attempting a comeback for Nicky Henderson, adding another layer of intrigue.
The Nemean Lion, a smart novice from Willie Mullins, and El Fabiolo, who switched back to hurdles this season, are also in the mix.
Queen Mother Champion Chase (Wednesday, 4:00pm UK / 3:00am AEDT)
The two-mile chasing championship. Steeplechase fences are bigger and more demanding than hurdles (around 4 feet 6 inches), so this race tests speed, bravery, and precision jumping in equal measure.
It's named after the late Queen Mother, who was a passionate supporter of National Hunt racing.
Marine Nationale won the 2025 edition in emotional circumstances, a month after jockey Michael O'Sullivan's tragic passing. The Barry Connell-trained gelding is back to defend, but the Dublin Chase at Leopardstown reshuffled the deck.
Majborough, a six-year-old trained by Willie Mullins, destroyed the Dublin Chase field by 19 lengths under Mark Walsh, with first-time cheekpieces transforming his attitude and jumping.
Il Etait Temps (also Mullins) had been prominent in the market but suffered a heavy fall in the Clarence House Chase at Ascot, leaving a question mark over his participation.
Stayers' Hurdle (Thursday, 4:00pm UK / 3:00am AEDT)
Run over three miles, this is the stamina test of the hurdling division. It's a race that rewards toughness and staying power rather than pure speed. The Stayers' Hurdle is the oldest championship race at the Festival, first run in 1912.
For 2026, there's been a schedule change: the Stayers' Hurdle and Ryanair Chase have swapped times, with the Stayers' now at 4:00pm and the Ryanair at 3:20pm on Thursday.
Teahupoo, the 2024 winner for Gordon Elliott, is a leading contender again. Honesty Policy (Willie Mullins) and Doyen Quest add depth, though the division lacks a single dominant force at this stage.
Cheltenham Gold Cup (Friday, 4:00pm UK / 3:00am AEDT)
The blue riband of jumps racing. Three miles, two and a half furlongs, 22 fences, and a brutal uphill finish that sorts the genuine stayers from pretenders.
The Gold Cup roll of honour reads like a who's who of the sport: Arkle, Best Mate, Kauto Star, and most recently Galopin Des Champs.
The 2026 Gold Cup picture was transformed by the Dublin Racing Festival in early February. Fact To File, a Willie Mullins runner who wasn't even entered in the Gold Cup, won the Irish Gold Cup impressively by five lengths. He can still be supplemented for £25,000 at the confirmation stage, and connections are expected to do so.
Gaelic Warrior finished second, while two-time Gold Cup winner Galopin Des Champs faded to third, raising concerns about whether age is catching up with the 10-year-old.
Defending champion Inothewayurthinkin, who had been the early favourite, suffered a heavy fall at the last fence in that Irish Gold Cup. His participation in March is now uncertain, with connections monitoring his recovery. That double blow has reshuffled the market entirely.
Cheltenham Festival 2026 Full Schedule
All 28 races across the four days, with UK start times and Australian AEDT equivalents. Racing begins at 1:20pm UK (12:20am AEDT) each day and concludes around 5:30pm UK (4:30am AEDT).
Day 1: Champion Day (Tuesday 10 March)
- 1:20pm (12:20am AEDT): Supreme Novices' Hurdle (G1, 2m) – £150,000
- 2:00pm (1:00am AEDT): Arkle Novices' Chase (G1, 2m) – £200,000
- 2:40pm (1:40am AEDT): Ultima Handicap Chase (3m 1f) – £150,000
- 3:20pm (2:20am AEDT): Mares' Hurdle (G1, 2m 4f) – £120,000
- 4:00pm (3:00am AEDT): CHAMPION HURDLE (G1, 2m) – £450,000
- 4:40pm (3:40am AEDT): Juvenile Handicap Hurdle (2m) – £80,000
- 5:20pm (4:20am AEDT): National Hunt Novices Chase (3m 6f) – £200,000
Day 2: Ladies Day (Wednesday 11 March)
- 1:20pm (12:20am AEDT): Turners Novices' Hurdle (G1, 2m 5f) – £150,000
- 2:00pm (1:00am AEDT): Brown Advisory Novices' Chase (G1, 3m) – £200,000
- 2:40pm (1:40am AEDT): Coral Cup Handicap Hurdle (2m 5f) – £100,000
- 3:20pm (2:20am AEDT): Glenfarclas Cross Country Chase (3m 5½f) – £75,000
- 4:00pm (3:00am AEDT): QUEEN MOTHER CHAMPION CHASE (G1, 2m) – £400,000
- 4:40pm (3:40am AEDT): Grand Annual Handicap Chase (2m) – £150,000
- 5:20pm (4:20am AEDT): Champion Bumper (G1, 2m) – £80,000
Day 3: St Patrick's Thursday (Thursday 12 March)
- 1:20pm (12:20am AEDT): Mares' Novices' Hurdle (G2, 2m 1f) – £105,000
- 2:00pm (1:00am AEDT): Jack Richards Novices' Handicap Chase (2m 4f) – £125,000
- 2:40pm (1:40am AEDT): Pertemps Network Final (3m) – £100,000
- 3:20pm (2:20am AEDT): RYANAIR CHASE (G1, 2m 4f) – £375,000
- 4:00pm (3:00am AEDT): PADDY POWER STAYERS' HURDLE (G1, 3m) – £325,000
- 4:40pm (3:40am AEDT): TrustATrader Plate Handicap Chase (2m 4f) – £150,000
- 5:20pm (4:20am AEDT): Kim Muir Challenge Cup (3m 2f) – £75,000
Day 4: Gold Cup Day (Friday 13 March)
- 1:20pm (12:20am AEDT): Triumph Hurdle (G1, 2m) – £150,000
- 2:00pm (1:00am AEDT): County Handicap Hurdle (2m) – £98,370
- 2:40pm (1:40am AEDT): Mares' Chase (G2, 2m 4f) – £120,000
- 3:20pm (2:20am AEDT): Albert Bartlett Novices' Hurdle (G1, 3m) – £150,000
- 4:00pm (3:00am AEDT): BOODLES CHELTENHAM GOLD CUP (G1, 3m 2f) – £625,000
- 4:40pm (3:40am AEDT): Festival Hunter Chase (3m 2f) – £50,000
- 5:20pm (4:20am AEDT): Martin Pipe Handicap Hurdle (2m 4f) – £75,000
Cheltenham Festival 2026 Betting Markets on Sportsbet
Sportsbet offers a wide range of markets on the Cheltenham Festival, from individual race winners through to ante-post specials. The festival's four-day format and deep fields create plenty of betting opportunities across different bet types.
Win and Each-Way
The standard win market is available on every race. Each-way betting is a big part of the Cheltenham experience and works differently to what most Australian punters are used to.
An each-way bet is essentially two bets in one: a win bet and a place bet. If your horse wins, both parts pay out. If it places (typically top 4 in fields of 16+), only the place portion pays, usually at a quarter of the win odds. Sportsbet offers each-way markets on most Festival races.
In big-field handicaps with 20+ runners, the place terms can stretch to five or even six places, which is where real value can emerge.
Ante-Post Markets
Ante-post betting means placing a bet before the final declarations are made. Sportsbet has had Cheltenham betting markets open since the end of last year's Festival.
The advantage is better odds. The risk is that if your horse doesn't run, you lose your stake. There's no refund for scratchings in ante-post markets unless the bookie specifically offers non-runner no-bet (NRNB) terms.
NRNB markets are worth seeking out. They cost you a bit in odds (prices are slightly shorter than standard ante-post) but eliminate the risk of losing your stake if a horse is withdrawn. Given how many horses miss the Festival due to ground conditions, injury, or late changes of plan, NRNB can be smart insurance.
Festival Specials
Sportsbet typically offers markets beyond individual races, including top Festival jockey, top Festival trainer, number of Irish vs British winners, and whether any trainer will have four or more winners during the week.
Willie Mullins has won the champion trainer award in each of the last seven years, and with runners spread across virtually every race, he's always prominent in that market. Paul Townend, his stable jockey, is the man to follow in the top jockey market.
Multis and Accumulators
The four championship races across the week lend themselves to multi bets. A four-leg accumulator picking the winner of each championship race is a popular punt, though the strike rate on those is low. A safer approach is to build two or three-leg multis from races where you have strong opinions, rather than forcing four selections across the week.
Cheltenham Festival 2026 Betting Tips and Key Angles
The Cheltenham Festival rewards homework. There are clear trends and patterns that give punters an edge, and understanding them separates the mugs from the shrewd operators.
Favourites Are Vulnerable
Only 32% of favourites won at the 2025 Festival (9 of 28 races). Over the past six years, odds-on favourites have won less than half the time.
The Festival is the one meeting where good horses regularly get beaten, because the fields are so strong and the pressure of the occasion is intense. Blindly backing the favourite in every race is a losing strategy.
Willie Mullins Dominance
Mullins has been champion trainer at the Festival for each of the last seven years and has 113 Festival winners in total. He typically sends upwards of 60 runners across the four days.
The sheer volume means he'll have winners, but he also runs plenty that get beat. The key is identifying which Mullins runners are his genuine A-team rather than backing everything that carries the Closutton colours. His runners in the novice races tend to be particularly strong, often arriving at Cheltenham after destroying weaker Irish fields all season.
Ground Conditions Matter
Cheltenham in March can range from good to yielding right through to heavy. The ground conditions dramatically affect which horses handle the track and which struggle.
Horses with proven form on soft or heavy ground have an advantage when the rain comes, which it often does. Check the going report in the days before each race and factor it into your selections. A horse that's brilliant on good ground can be a completely different animal when the mud is flying.
Irish vs British Runners
Ireland has won the Prestbury Cup (most winners across the week) in each of the last six years. In 2025, Irish trainers won 20 of the 28 races. That dominance isn't a fluke.
The depth of talent in Irish yards, particularly Mullins and Gordon Elliott, is staggering. Don't ignore British runners entirely, as Dan Skelton, Nicky Henderson, and Paul Nicholls all have live ammunition, but the overall bias towards Ireland is a trend worth respecting.
The "Cheltenham Roar" Effect
The noise when the first race kicks off on Tuesday is unlike anything in racing. Some horses handle it. Some don't. Inexperienced runners and nervous types can boil over in the paddock or jump poorly in the early stages because the atmosphere is so intense.
Horses with previous Festival experience, or those trained by yards that regularly bring runners (Mullins, Elliott, Henderson), tend to handle the occasion better.
Key Trainers and Jockeys to Follow
Willie Mullins (Ireland)
The undisputed king of Cheltenham. Mullins has 113 Festival winners and counting, including 12 champion trainer titles (the last seven consecutive). His operation at Closutton in County Carlow is the largest jumps racing stable in the world.
For 2026, he's the man behind Gold Cup contenders Galopin Des Champs, Gaelic Warrior, and potentially Fact To File; Champion Chase favourite Majborough; and scores of runners across the card. His stable jockey Paul Townend is chasing a fifth consecutive champion jockey crown at the meeting.
Gordon Elliott (Ireland)
Mullins' biggest rival. Elliott operates from Cullentra House in County Meath and has twice been champion trainer at the Festival (2017, 2018).
His leading lights for 2026 include Brighterdaysahead (Champion Hurdle favourite) and multiple runners across the handicap races. Elliott's strength is his depth in the big-field competitive races.
Dan Skelton (Britain)
Britain's best hope of challenging Irish dominance. Skelton, based in Warwickshire, has recorded 40 course winners at Cheltenham over the past five seasons, matching Mullins' total.
He went toe-to-toe with Mullins in the 2025 champion trainer battle and has Gold Cup contender Grey Dawning among his leading entries. His brother Harry Skelton rides most of his runners.
Nicky Henderson (Britain)
The elder statesman of British jumps racing. Henderson has trained more Cheltenham Festival winners than any other British trainer, with Constitution Hill and Sir Gino among his star names. Sir Gino is prominent in the Champion Hurdle market despite not having raced since Christmas.
Barry Connell (Ireland)
A smaller operation that punches well above its weight. Connell trains defending Champion Chase winner Marine Nationale and has built a reputation for meticulous preparation of his small string.
How to Watch the Cheltenham Festival 2026 in Australia
The timing works for night owls and early risers. The first race each day goes off at 1:20pm UK time, which is 12:20am AEDT (11:20pm AEST if daylight saving has ended, though March 10-13 falls within daylight saving time in most Australian states).
The feature races are at 4:00pm UK time (3:00am AEDT), and the last race wraps up around 5:30pm UK time (4:30am AEDT).
In the UK, ITV Racing broadcasts 24 of the 28 races (six per day) free-to-air, with Racing TV showing all 28 races for subscribers.
In Australia, Sky Racing typically carries Cheltenham coverage, available through Foxtel and Kayo Sports. Racing.com has also carried Festival coverage in previous years. Check local listings as the event approaches, as broadcast arrangements can shift.
Sportsbet also offers live streaming of international racing through our platform for customers with funded accounts. This can be a convenient way to watch without a separate subscription.
For those who can't stay up through the small hours, results and race replays will be available through racing media and bookmaker platforms from early morning Australian time. You can also learn how to stream horse racing from various sources throughout the year.
Cheltenham Festival 2026: Frequently Asked Questions
What time does the Cheltenham Festival start in Australia?
Racing starts at 12:20am AEDT each day (1:20pm UK time). The feature races go off at 3:00am AEDT (4:00pm UK time). The last race each day finishes around 4:30am AEDT.
What is the difference between a hurdle race and a chase?
Hurdle races use smaller, flexible obstacles (about 3 feet 6 inches). Steeplechases (chases) use larger, more solid fences (about 4 feet 6 inches) and typically cover longer distances. Chases are generally considered the tougher test of a horse's jumping ability and stamina.
What does each-way betting mean?
An each-way bet is two bets combined: one for your horse to win, one for it to place (finish in the top spots, usually top 3 or 4 depending on field size). If your horse wins, both bets pay. If it only places, you collect the place portion at a fraction of the win odds (typically one quarter). It's a popular way to have a punt on longer-priced runners while giving yourself a safety net.
What is ante-post betting?
Ante-post bets are placed before the final field is declared. The odds are usually better because you're accepting the risk that your horse might not run. If it's withdrawn for any reason, you lose your stake. Non-runner no-bet (NRNB) markets remove this risk but offer slightly shorter prices.
Can I bet on the Cheltenham Festival with Sportsbet?
Yes. Sportsbet offers comprehensive markets on all Cheltenham Festival races, including win, each-way, ante-post, and Festival specials like top jockey and top trainer.
Who is the favourite for the 2026 Cheltenham Gold Cup?
The market has been reshuffled after the Dublin Racing Festival. As of early February 2026, Galopin Des Champs is around 11/2, with Jango Baie and Inothewayurthinkin both at 7/1. Fact To File, the Irish Gold Cup winner, is expected to be supplemented and should feature prominently once confirmed. The Jukebox Man (8/1) and Gaelic Warrior (10/1) are also in the mix.
How many races are at the Cheltenham Festival?
28 races across four days, with seven races per day. Of those 28, 14 are Grade 1 races (the highest level).