How do bookmakers calculate the Cheltenham betting odds?

How do bookmakers calculate the Cheltenham betting odds? Horse racing remains one of the UK’s top sports and much of this comes down to the majestic festivals that racegoers can enjoy each year. The Cheltenham Festival is easily one of the most popular and is held at the iconic Cheltenham Racecourse.

Spread over four days of intense action, it is thought that more than 250,000 fans make it to Prestbury Park each year to watch the best trainers, jockeys and horses compete. With a massive 14 Grade 1 contests to marvel at, those who make it in person or watch online always have an amazing time.

As you would expect, the Cheltenham Festival is also hugely popular with punters and sees plenty of betting action. This is from experienced horse race bettors and more casual punters looking to have a flutter. One thing that is key for anyone to understand before diving in is how odds work for festivals like this and how bookies calculate Cheltenham betting odds.

How do Cheltenham betting odds work and what do they tell you?

Odds really are essential to understand when betting at events like the Cheltenham Festival 2024. They tell you how likely the bookmaker thinks a horse is to win the race, and also how much money a winning bet will pay out.

The lowest that odds can generally go at popular platforms like the Betfair Exchange are 1/100. This means that the bookmaker feels the horse in question has a 99% chance of winning. While this is not guaranteed, it is useful information to ponder when researching which horses to back in Cheltenham Festival races.

In addition, odds of 1/100 show that a bet of £100 would generate a £1 profit. Knowing this is not only useful for seeing what return a bet like this would deliver but also how much value it offers. Many people, for example, would feel that risking £100 to make only £1 is not worth it.

On the flipside of this, a horse may have much bigger odds – even up to something like 100/1 to win. These kinds of odds show that bookies feel the horse has little chance of winning (a 1% chance, in fact!) but punters would get a much better payout if this were to happen.

If we look at horses that are odds-on in the market, they have a greater than 50% chance of winning, which many punters at events like Cheltenham value. A 4/11 shot, for example, would have a 73.3% chance of winning in the bookie’s eyes, which can be handy to know when deciding if placing a bet on the horse in question is worthwhile.

How do bookmakers calculate Cheltenham Festival betting odds?

Horse racing as a sport is full of famous names – from legendary Staffordshire trainer John Porter to Red Rum, Sir AP McCoy and more. It is also home to some truly iconic events to bet on, with the Cheltenham Festival being a superb example. Anyone planning on placing wagers at Cheltenham, though, should first take time to research how bookies calculate odds for its races.

In truth, bookmakers spend a lot of time working out odds for the festival. This sees them using a specific formula to set the odds for each race, which show the probability of a certain event happening. They then add in a little wriggle room for profit, as this is where they make their money.

Once this formula has been used to set the odds for every horse, the percentage chance each has of winning is added up to form the market. A perfect market at Cheltenham should come to 100% when the probabilities of each horse winning are added together. Anything extra is the percentage profit the bookie makes on the entire race. It is common to see Cheltenham markets adding up to figures like 103%, for example.

Which bookmakers offer the best Cheltenham Festival odds?

When they calculate odds for the Cheltenham Festival, some bookies will offer better prices than others. It is key to find the bookmakers who do this, as this means you get a bigger payout if your bet wins. An easy way to do this is using an odds comparison site such as Oddschecker to find the best odds at all the top sportsbooks for each race of the festival.

Another good tip is to focus on popular sportsbooks that are well-known for offering great value odds and other promotions for Cheltenham betting. William Hill, for instance, always has some of the best odds around on races like the Stayers’ Hurdle, and a Best Odds Guarantee that sees the bookie match the price of a horse if it drifts in the market after you back it!

Paddy Power and bet365 are also two safe, secure places to bet on the Cheltenham Festival that offer their own Best Odds Guarantee. BetVictor is another excellent choice for best value Cheltenham odds and is known for outstanding customer support, secure payment options and a seamless mobile betting experience.

Cheltenham Festival betting odds calculated carefully

Bookies use a specific formula to calculate Cheltenham betting odds, which shows how likely a horse is to win the race. This is something that is done for each race in the festival and helps to show punters not only how much a wager will return but also how probable it is that a horse could win the race.

Top Invitees to Watch Out For At The 2024 Pegasus World Cup

Top Invitees to Watch Out For At The 2024 Pegasus World Cup

The upcoming Pegasus World Cup 2024 is quickly approaching! This highly respected horse race in South Florida will once again be held at Gulfstream Park on Sunday, January 27th. With a total of $14.875 million in purses, there’s a lot of anticipation and excitement surrounding this prestigious event.

As racing enthusiasts gear up for the event, all eyes will be on the top invitees. In this article, we’ll round up the top contenders who will vie for supremacy and aim to etch their names in the annals of Pegasus World Cup history. Check them out here:

Master of Seas

One of the top Pegasus World Cup contenders is Master of the Seas. This Irish-bred horse has established an impressive record with eight victories in 16 lifetime starts, accumulating earnings exceeding $2.2 million.

This exceptional equine athlete recently showcased its prowess by making a remarkable comeback from a trailing position to secure a significant win in the 2023 Breeders’ Cup Mile (G1) on the grass at Santa Anita last November.

Known for its speed, stamina, and strategic racing acumen, Master of the Seas has proven to be a formidable competitor on the turf. The horse’s ability to navigate challenging courses and emerge victorious in prestigious events underscores its status as a top-tier racehorse.

Atone

The next primary contender anticipated in the Pegasus Turf is the defending race champion, Atone. This seasoned 7-year-old gelding boasts seven wins and $1.3 million in earnings from a total of 29 career starts.

Atone’s achievements extend beyond his Pegasus Turf success. He also had great placements in four other graded stakes races. Notable among these are his second-place finishes in the 2021 Fort Lauderdale (G2) at Gulfstream and the 2022 Forbidden Apple (G3) and Mint Million (G3).

However, it’s noteworthy that Atone has yet to secure a victory in any of his six starts since his triumphant performance in the previous race edition. Despite being the reigning titleholder, Atone faces the challenge of breaking a winless streak, adding an element of intrigue and uncertainty to his bid for success in the upcoming Pegasus Turf event.

Therapist

Atone’s stablemate Therapist is also on the list of invitees for the 2024 Pegasus World Cup. He was pushed by Trainer Mike Maker, who secured his initial triumph in the Pegasus Turf with Zulu Alpha in 2020.

Owned by Michael Dubb, Therapist boasts an impressive record as a 14-time winner, accumulating over $1.3 million in purse earnings. The seasoned horse has claimed victory in nine stakes races, achieving Grade 1 status with a notable win in the United Nations on July 22. Additionally, Therapist displayed prowess by securing the 2018 Cutler Bay at Gulfstream, further enhancing his credentials as a formidable contender in high-profile turf competitions.

Warm Heart

Another invitee from Europe besides Master of Seas is the Irish-bred 4-year-old filly Warm Heart. This talented equine athlete ventured to North America for her only start in the Breeders’ Cup Filly & Mare Turf (G1) on November 4, narrowly finishing second by a neck to the favored Inspiral.

Prior to her impressive performance in the United States, Warm Heart won the Qatar Prix Vermeille (G1) at Longchamp and Yorkshire Oaks (G1). Her international racing resume further extends to her commendable third-place finish in the Hong Kong Vase (G1) just last month.

Saudi Crown

Saudi Crown, the offspring of Always Dreaming, has earned its Grade 1 credentials through a noteworthy victory in the $1-million Pennsylvania Derby (G1) at Parx. Despite facing a formidable field, the horse demonstrated both speed and stamina, securing a Grade 1 title.

The early chapters of Saudi Crown’s racing career featured consecutive victories, establishing the horse as a rising star. Following its initial success, the 4-year-old runner delivered strong performances, finishing second in both the Dwyer (G3) at Belmont and the Jim Dandy (G2) at Saratoga.

However, it faced a challenging moment in the Breeders’ Cup Classic (G1) at Santa Anita, where it finished off the board, representing its only performance falling below the second-place mark. This setback, however, serves as a testament to the competitive nature of top-tier horse racing.

Adhamo

Adhamo, owned by Madaket Stables, Louis Lazzinnaro, Michael Caruso, and Michael Dubb, is under the tutelage of renowned trainer Chad Brown. Notably, Brown secured victory in the inaugural Pegasus Turf in 2019 with the eventual Horse of the Year, Bricks and Mortar.

This 6-year-old Irish-bred horse is considered a Group 3 winner in France. Apart from Europe, this promising horse has participated in nine races in North America, the last eight being Grade 1 events. Among his notable accomplishments is a triumph in the 2022 United Nations. It has also clinched victories in the Hollywood Derby (G1) and the Saratoga Derby Invitational (G1) in 2023.

Final Thoughts

All these horses have top-tier talent and impressive track records and achievements, making them top contenders for the Pegasus World Cup. Note that this list is not exhaustive, and the dynamic nature of horse racing can introduce new contenders and developments. Make sure to keep yourself informed about the newest updates and entries in order to fully enjoy the unfolding events of the Pegasus World Cup.

Who was John Porter?

Who was John Porter? Born in Rugeley, Staffordshire in 1838, John Porter was a hugely successful trainer of the Victorian and Edwardian eras. All told, he saddled 1,063 winners, including 23 Classic winners, and won the Triple Crown on three separate occasions, with Ormonde (1886), Common (1891) and Flying Fox (1899).

Porter began his training career when recruited by Sir Joseph Henry Hawley, a.k.a. the ‘Lucky Baronet’, to replace George Manning as private trainer at Cannon Heath, near Kingsclere, Hampshire in 1863. Four years later, Hawley built a new yard at Kingsclere and when he died in 1875, offered Porter, in his will, the opportunity to buy the estate at half its original price. Unsurprisingly, Porter did so and wasted little time in transforming Kingsclere into a state-of-the-art training establishment.

Porter also co-founded Newbury Racecourse and served as managing director of Newbury Racecourse Company, which was formed in April, 1904, after his proposals for a new venue were finally accepted by the Jockey Club. Porter is commemorated at the Berkshire course by the John Porter Stakes, which was inaugurated in 1928 and, in its current guise, is a Group Three contest for four-year-olds and upwards over 1 mile 4 furlongs, run in April. Ironically, for all his success as a trainer, Porter only ever saddled one winner at Newbury, retiring from the training ranks within a month or two of the course staging its first meeting in September, 1905.

Will David Eustace be Successful in Hong Kong?

Will David Eustace be Successful in Hong Kong? David Eustace’s decision to leave Australian horse racing to start a training career in Hong Kong was no real surprise to anyone familiar with his family.

Eustace is the nephew of former Hong Kong-based horseman David Oughton, and he has long dreamt about following in his footsteps at some point in his life.

The Englishman has spent the past five years as a co-trainer with Ciaron Maher, during which time the operation rattled home more than 1,600 winners.

That tally included 30 Group 1 successes including the 2022 Melbourne Cup with Gold Trip – a victory which cemented their legacy as big-hitters in Australian horse racing.

The pair were the scourge of online bookmakers last season, recording 347 wins on their way to claiming the Australian trainers’ title.

They have continued their quest to hit international horse racing betting sites this term, further highlighting how devasting their partnership has become.

Their use of data analysis and sports science put them at the forefront of Australian racing and is a methodology Eustace will replicate in Hong Kong.

“I hope to bring a varied style of training with experiences from the United Kingdom, experiences from Australia and with an emphasis on using sports science and data to enhance a horse’s training, longevity and careers in Hong Kong,” Eustace said.

“Communication, whether it be with Jockey Club itself, or with owners, is very important and I intend for it to be absolutely first-class. That’s what I hope to bring to the table along with youth and vibrancy.

“I also understand I am heading to one of the most competitive racing jurisdictions in the world and that’s exciting.”

Eustace’s move to Hong Kong is undoubtedly a gamble, as there is no guarantee he will be as successful without Maher working alongside him.

Annabel Neasham, Lucy Yeomans and Jack Bruce all worked with Maher before heading elsewhere and have found it tough to match his achievements.

However, Maher believes that Eustace has the talent to be a big hit in Hong Kong and has backed him to become one of the top trainers there.

“A man of David’s profile and reputation was always going to be in hot demand,” Maher said. “On a personal level I just want to thank David. He has been alongside me from the early days through thick and thin.

“I know we couldn’t have reached our current position as champion trainers of Australia without him – and his Hong Kong appointment is recognition of that. I am certain he will be very successful there.

“This is not the end of our relationship just a new chapter and both of us are confident that our relationship will continue in some form that will be to the benefit of both operations and their owners.”

The infrastructure in Hong Kong undoubtedly gives Eustace every chance of succeeding, with the world-class facilities likely to play to his strengths.

He will join former Australian handlers David Hayes, David Hall, Mark Newnham and Jamie Richards in Hong Kong, and will be keen to make his mark as quickly as possible.

Eustace is scheduled to head to Hong Kong in January to build relationships with new owners and generate some bloodstock.

He will complete his move in April, before ramping up preparations for the start of the Hong Kong racing season next September.

Given the reputation Eustace has built in Australia, do not be surprised if he is soon delivering plenty of winning returns for punters on the Hong Kong circuit.

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