Cheltenham Festival
Why Betting on Horses to Place Can Pay Off at the Cheltenham Festival
With huge fields and competitive racing, Cheltenham is one of the toughest betting tests of the year. While the Festival is often associated with big-priced winners, I prefer the safer option of backing horses to place rather than to win outright.
A place bet pays out if a horse finishes in the top few positions, rather than only if it wins. The exact number of places depends on the size of the field and the race type. In smaller fields, bookies usually pay out on the top two or three, while in big handicaps at Cheltenham some firms extend their terms to four, five, or even six places to attract business.
This approach allows punters to focus on horses that may not have the class to win a Grade 1 but are consistent enough to finish among the leaders. For example, a proven stayer in a handicap hurdle might be a strong place contender even if its chances of winning outright are slim. At Cheltenham, where favourites can falter under the Festival pressure, place betting often provides valuable insurance.
Bookmakers generally offer place only markets, but each way betting is another route.
An each-way bet covers both the win and the place, splitting the stake between the two outcomes. If the horse places without winning, the place portion of the bet still returns a profit, often at one quarter or one fifth of the odds.
The Tote also plays a role in place betting at Cheltenham. With its Place and Placepot pools, punters can stake on horses to finish in the frame across multiple races, sometimes landing significant dividends if outsiders sneak into the placings.
Recent Festivals have shown the appeal of this strategy. In competitive handicaps, horses at odds of 20/1 or more have frequently run into the frame, rewarding those who bet with place terms.
For cautious punters or those targeting consistency, betting on places rather than outright wins can prove a shrewd way to profit during Cheltenham week.
As the Festival approaches, bookmakers are expected to once again enhance their place offers, particularly on marquee handicaps.
For many punters, betting on horses to place rather than to win outright could be the most reliable route to returns at jump racing’s biggest meeting.
