Betting on Multiple Horses in One Cheltenham Race

Last Updated 5 hours ago

One of the most effective ways to approach the notoriously difficult handicaps at the Cheltenham Festival is to back multiple horses in a single race. It runs against the instinct to pick one winner, but applied well it is less guesswork than portfolio management.

It is a calculated way to improve the chance of a return in races where the outcome is genuinely unpredictable.

Each-way across several selections

The main vehicle 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 strong tactic.

The targets are horses at attractive prices, often 8/1 or bigger, from powerful stables with a history of aiming at the race. Spreading the stake widens the net in the hope that at least one hits the place terms, which often extend to the first five or six.

The reverse forecast

The reverse forecast is another route. It pairs two horses and wins if they finish first and second in either order.

Where there are two strong fancies but no clear winner between them, it covers both outcomes. Returns can be sizeable, though it costs more, since it is effectively two bets.

Perming a tricast

For the biggest challenge and payout, the tricast asks for the first three in the correct order. The difficulty is extreme, but in a wide-open 20-runner handicap the Tote dividends can be substantial.

Perming a shortlist of three or four horses across every top-three combination spreads the cover, though the cost means a very small unit stake is sensible.

Bankroll discipline is essential

Backing several horses in one race eats into a daily budget quickly without discipline. Deciding a total maximum stake for the race in advance, then dividing it among the selections, keeps it controlled.

The aim is for a win or place at a decent price to cover every stake in that race and still show a profit.

Opposing a vulnerable favourite

The approach is especially useful for taking on a short-priced favourite that looks beatable. Several selections at bigger odds bet against it, so a win or place from any of them profits from the favourite’s defeat.

It leverages an opinion across several outcomes rather than staking everything on one.

Backing multiple horses turns a binary win-or-lose handicap into a more strategic engagement. It draws on the each-way bet and the tricast, with the full range covered in the site’s Cheltenham Festival betting guides.