Betting On Multiple Horses In One Race At Cheltenham

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I’ve learned that one of the most effective ways to approach the notoriously difficult handicaps at the Cheltenham Festival is to bet on multiple horses in a single race. While it goes against the traditional instinct of picking one winner, this strategy, when applied correctly, is less about guesswork and more about portfolio management.

For me, it’s a calculated method to increase my chances of a return in races where the outcome is incredibly unpredictable.

The primary vehicle for this approach is the each-way bet.

In a large, competitive handicap like the Coral Cup or the Grand Annual Chase, backing two or three horses each-way can be a brilliant tactic. I look for horses at attractive prices, typically 8/1 or higher, from powerful stables that have a history of targeting the race. By spreading my stake across multiple selections, I’m effectively widening the net, hoping that at least one of them will hit the place terms, which often extend to the first five or six horses.

Another method I use is the forecast bet, specifically the reverse forecast. This involves selecting two horses, and the bet wins if they finish first and second in either order. In a race where I have two strong fancies but can’t decide which one will win, a reverse forecast covers both outcomes. The returns can be substantial, but it’s important to remember that it requires a higher stake, as you are placing two separate bets.

For the ultimate challenge and potential payout, I sometimes venture into the tricast. This is where you predict the first three horses in the correct order.

The difficulty is extreme, but in a wide-open handicap with 20+ runners, the Tote dividends can be life-changing. My approach here is to “perm” my selections. I might shortlist three or four horses and bet on every possible combination of them finishing in the top three. It’s a high-cost strategy, so I only ever use it with a very small unit stake.

This multi-horse strategy requires careful bankroll management. Betting on two or three horses in one race can quickly eat into my daily budget if I’m not disciplined.

I decide in advance what my total maximum stake is for a given race and then divide it among my selections. The goal is to ensure that if one of my horses wins or places at a nice price, the return will cover all my stakes for that race and show a healthy profit.

I find this approach particularly useful for opposing a short-priced favourite. If there’s a horse at the head of the market that I believe is vulnerable, I can use my multiple selections to bet against it. If any of my horses win or place at bigger odds, I profit from the favourite’s defeat. It’s a way of leveraging my opinion across several outcomes rather than putting all my eggs in one basket.

Ultimately, betting on multiple horses in a single Cheltenham race has transformed my experience of the Festival handicaps. It turns a binary win/lose scenario into a more nuanced and strategic engagement. While it doesn’t guarantee success, it aligns with the chaotic nature of these races and has, over time, provided me with a more consistent and enjoyable return from the most exciting week in the racing calendar.