Cheltenham’s challenges and triumphs: Bookmakers reflect on the “Olympics of horse racing”

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The dust has now settled on the notorious Cheltenham Festival, for another year, and while the renowned racing festival lived up to its hype, it was one to remember for the bookies with several high-profile favourites falling short. 

Many punters were left exasperated and underwhelmed as the likes of Constitution Hill, Teahupoo, Galopin Des Champs and Jonbon did not perform as expected, but there were issues off the track as well. 

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Rising prices across the board were given as an explanation for visitor numbers continuing to fall, continuing the trend of recent years. 

Ahead of the event, Cheltenham Festival CEO, Guy Lavender, confirmed that 2025 attendance figures would be lower than in previous years, as admission, refreshments and accommodation costs soar. 

The week-long meeting at the Gloucestershire venue remains a crown jewel of the horse racing scene and this year was certainly one to remember for the lucky punters who struck gold with BetMGM’s £500,000 giveaway. 

The US brand marked Cheltenham in style, giving away two prizes of £250,000 to two bettors, following a qualifying stake of just £2.00. 

It was revealed that Steve, a Durham resident, was the first winner of a 50% share of the bumper jackpot. 

In conversation with SBC News, key industry figures shared some of their reflections on Cheltenham and how it lived up to expectations for bookmakers and bettors, alike.

Sharon McHugh, head of communications and sponsorship at BoyleSports stated: 

“I think it’s fair to say that initial projections on all metrics would suggest this year’s Cheltenham Festival was better than we expected. Expectation-wise, it probably finished up more favourably for the bookies.

“Although a lot of punters were left surprised by the results, there were plenty of happy punters too who saw the unpredictable nature following the likes of Constitution Hill on Day 1 and proceeded to take a punt on an each-way alternative in the days that followed instead.

“One thing that cannot be denied for either bookie or punter is that this was one of the most unpredictable and exciting Cheltenham Festival’s, certainly results wise.”

Chad Yeomans, global head of communications and PR at Betway, opined: 

“Obviously, for bookmakers, it was a Cheltenham to remember. It’s very rare that so many well fancied shots get beaten, so there was definitely no moaning from our side.

“But there were some good winners from punters, we saw that with some popular and well backed horses winning throughout the week. It was not a one way street, but as ever Cheltenham is Cheltenham. The punters love it, we love it, it always delivers.”

The executives were asked about the cost challenges at Cheltenham and with falling visitor numbers, if the festival was retaining its prestige and status. 

McHugh responded:  “Cheltenham remains the Olympics of national hunt racing and the ultimate fixture in the calendar. I think the way people are choosing to enjoy it is evolving.”

“For example, just simply from a personal perspective, I know lots of people who took the week off work to enjoy it with friends in their local area. I know other people who travelled to Spain to enjoy it in a sunnier climate.”

She also said that it would be interesting to gauge the TV viewing figures, but the betting numbers underline the huge value that the festival holds, and the standard of racing suggests nothing will change anytime soon.

Betway’s Yeoman’s emphasised, “In the UK and Ireland Cheltenham is the pinnacle of horse racing. It’s the biggest ante post betting market in racing and the bulk up is what punters love. It is the best, from our point of view it is the most exciting.”