Quite often around the time of major sporting events, it is not unusual for betting firms to see an increase in the volume of bets made.
This is definitely the case for the Cheltenham Festival, regarded as arguably the major event on the horse racing calendar, perhaps with the exception of the Grand National Festival, though there isn’t much between the two.
One of the reasons why the Cheltenham Festival is so popular with punters is because you will find nearly every major horse, jockey, and trainer competing for a share of the prize of each race and also the associated prestige.
In addition to this, betting companies also usually offer more favourable odds, meaning that customers have a great chance to win a lot.
It is also not uncommon for some betting companies to make a loss during the Cheltenham Festival week, especially if customers are smart about how they bet and choose each-way accumulators, which can usually pay out thousands from just a £50 bet.
There were many different betting companies that punters used during Cheltenham, with a lot having a lot of great promotions, though you can find some of the best payout online casino UK option sites at Paybyphonebillcasino.uk as well.
Where did the money go?
Prior to the start of the festival, there was a lot of hype about a number of jockeys and horses, with much of the media speculating on how they might perform. There were indeed quite a lot of names mentioned and some certainly lived up to the buzz that was created which resulted in the betting companies having to pay out substantial amounts.
One of these was female jockey Rachel Blackmore who was being tipped for big things, certainly in her first race on Honeysuckle and she duly delivered with many punters backing the eventual 11/10 favourite.
Those astute customers will have seen value in a Blackmore accumulator, with the 31-year-old blazing a trail among the Cotswold hills, securing a stunning six wins, though had to settle for second place in the flagship Gold Cup event.
One punter, Paul Dean cashed out at a cool £250,000 on Betfair, from just a £5 stake on a five-horse accumulator, which could have been £511,000 had his last horse; Enovi Allen won.
He decided not to risk keeping himself in the accumulator, which was a good job with Enovi ending up falling in the Marshes Novices Hurdle.
Dean said: “So after celebrations last night, four hours sleep, an hour’s walk at 5am, I’ve decided to take a partial cash out offer of 300 Envoi/250 the field,” Dean said, earlier on Thursday.
“With other bets my position on the race is £322,000 Envoi or £250,000 the field.”
Popular Cheltenham Festival betting firms
While everyone has their favourite betting company, it is usually the case that those who offer the most generous promotions that take the most wagers. In previous years, the likes of William Hill, Coral and Ladbrokes (the ‘big three’) who get the most traction.
With this year’s festival being held behind closed doors, due to the COVID-19 pandemic, it meant that those who would usually be at the event could make their wagers without the distraction of large crowds and avoid being caught up in the atmosphere.
It meant that they could easily access their favoured betting websites and focus more on the races. The last 12 months have seen an increase in online casino and sports betting, with people being restricted to their homes and no doubt, this also played a part in why betting companies took a substantial amount of wagers.
