Cheltenham Festival
What Is a Forecast Bet at the Cheltenham Festival?
Among the many betting options available to punters during the Cheltenham Festival, I do love to place a forecast bet.
Unlike a simple win or each way bet, a forecast requires bettors to predict the first two horses home in the correct order.
The bet is settled using the official result, meaning your chosen horse must win and your second selection must finish runner-up exactly as stated.
Because of the difficulty, forecast bets can return far bigger dividends than traditional wagers.
There is also the option of a reverse forecast, which doubles the stake but covers both possible finishing orders. In this case, your two selections can finish first and second in any order and the bet still pays out.
Punters at Cheltenham often use reverse forecasts in big-field handicaps where predicting the top two in the right order can be especially challenging.
Forecast bets are calculated using the Tote dividend or the industry computer straight forecast (CSF). Both are based on the starting prices of the horses and the amount of money staked, which means payouts can vary depending on how fancied the selections are.
When outsiders finish in the top two, forecast dividends can be huge, making them attractive for punters chasing value during the Festival.
In the 2024 Champion Hurdle, Constitution Hill went off an odds-on favourite but was surprisingly beaten by State Man.
A punter who had placed a straight forecast predicting State Man to win with Constitution Hill second would have been rewarded with a handsome dividend, far greater than simply backing State Man to win.
A reverse forecast covering both outcomes would also have paid out, as the two horses finished first and second in either order.
At Cheltenham, where many races feature large fields and unpredictable results, forecast betting can be an exciting way to find bigger returns.
It is particularly popular in handicaps and wide-open Grade 1s, where multiple horses are closely matched in the market and surprises are common.
For those looking to go one step further, the tricast bet extends the challenge to predicting the first three finishers in the correct order, offering even larger dividends.
