Skip to main content

Cheltenham Festival bets expected to total NZ$1.9 Billion

Horse racing has been one of the most popular forms of gambling for hundreds of years. One of the oldest events in Britain, the Cheltenham Festival, is expected to garner nearly £1 billion in bets this year. The festival started in 1860, and has been hosted at Cheltenham racecourse since 1911. This year, the festival is expected to see at least 300 000 bets an hour through bookmakers like Paddy Power.

These bettor-friendly estimations could mean that the festival will be a good one for bookmakers. On the other hand, they could also lead to losses similar to those of 2016. At the time, punter-friendly bets resulted in combined losses of £60 million (NZ$114 million) for sports books. Sadly, William Hill was hit the hardest with these bets. They estimated a loss of £30 million (NZ$57 million) of their overall profits for the year. Average bets are estimated at £12 (NZ$22).

Cheltenham Festival spurs Billions in Bets

2017 Cheltenham Festival a Success

Despite the failures of 2016, the 2017 Cheltenham Festival was considered one of the best for sports books. Favourable results for Robbie Power’s Gold Cup win saved bookmakers almost £20 million (NZ$38 million) in payouts. The Gold Cup is one of the championship races at the festival. Past winners include this year’s favourite, Ruby Walsh.

Walsh has won the top jockey spot eleven times, and acts as a brand ambassador for Paddy Power. However, Walsh has only won the Gold Cup race twice in 2007 and 2009. Other notable races include:

  • Champion Hurdle
  • Queen Mother Champion Chase
  • Stayers’ Hurdle

These races will be spread out over the four days of the festival. Be sure to spread your bets, and place them in time for each race. After all, there’s nothing more exciting than winning big on a favourite in horse racing. Friday is the last day for bets on the Gold Cup, and is slated as the ‘biggest day’ of the Cheltenham Festival.

Related Posts

NZ Racing Gets Coverage On Sportsbet

Leading bookmakers, Sportsbet is to supply NZ Racing on all its digital platforms in Australia. Sportsbet is the largest bookmaker in Australia owned by Flutter Entertainment. The deal was struck between Sportsbet and the New Zealand Racing Industry Transition agency (RITA). Sportbet has become the frontier for New Zealand racing. RITA is the body that oversees […]

SkyCity Hamilton Pokie Application to Get Public Hearing

skycity hamilton pokie public hearing

Earlier this year, SkyCity Hamilton submitted an application to remove three blackjack tables from their casino floors to make space for 60 additional pokie machines. The additional machines would increase the total number of pokies available at the casino to 399. The application did result in opposition from the community. Now, it seems that a […]