Cheltenham Festival bets expected to total NZ$1.9 Billion
Recently updated on March 14th, 2018
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).

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.
Published by Taralynn March 14, 2018 Categorie(s): Big Wins, Bonus Codes, High Payouts, Latest News, New Zealand, North Island, Promotions, South Island
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Taralynn Engels is a seasoned casino news writer with a passion for keeping her readers up-to-date with the latest happenings in the gambling industry. With over five years of professional writing experience, Taralynn has developed a deep understanding of the casino industry and a knack for delivering engaging and informative content. Aside from her in-depth knowledge of the casino industry, Taralynn possesses excellent writing skills that allow her to craft captivating narratives that keep readers hooked until the last word. Her ability to simplify complex concepts and present them in an accessible manner guarantees that her articles are enjoyed by both seasoned casino enthusiasts and newcomers alike.
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