Cheltenham Festival 2026 Favourites

The Cheltenham Festival 2026 promises another four-days of top-class jumps racing, held from 10th-13th March, with many horses set to return for another shot at winning the most prestigious races.

We've seen some fierce rivalries between top favourites in previous years, with this festival shaping up no different. The Cheltenham Festival showcases elite horses, trainers and jockeys from around the world and there is no better time to start placing bets on the front runners, than in the ante-post market.

In each of the last five years, 32.1% of horses that were the starting price favourite went onto win the race, with that coming true in 2025 as nine of the 28 market leaders crossed the finish line first.

For many spectators the highlight of the week is the Cheltenham Gold Cup, which takes centre stage on the last day of the festival, with this widely regarded as the highest echelons of jump racing. History shows that despite the high-stakes, drama and increased pressure, 32 out of the 94 runs have resulted in the favourite taking the title.

With competitive fields and shifting markets, finding the best odds is the key to successful Cheltenham Festival 2026 betting, so let's start with taking a closer look at which horses currently have the best chance of winning their respective races.

Cheltenham Festival 2026 Favourites

With the 2026 Cheltenham Festival approaching, excitement is already starting to build for the top contenders in the five headline races. Here’s a breakdown of the current favourites and their latest odds (subject to change):

The Unibet Champion Hurdle - The New Lion (11/4)

The New Lion is one of the most promising up and coming horses, having won all five races he has been entered into during his professional career. Trained by Dan Skelton, the 6-year-old has emerged as the strong 11/4 favourite to win The Unibet Champion Hurdle at the 2026 festival.

Below you can see a full breakdown of The New Lion's excellent form in the build up to Cheltenham Festival 2026:

The BetMGM Queen Mother Champion Steeple Chase - Majborough (13/8)

After finishing third in last year's Arkle Challenge Trophy Novices' Chase, Majborough is the favourite to win The BetMGM Queen Mother Champion Steeple Chase heading into 2026. The 6-year-old is in great form and won last time out at Leopardstown.

Below you can see a full breakdown of Majborough's form in the build up to Cheltenham Festival 2026:

The Ryanair Chase - Gaelic Warrior (2/1)

Willie Mullins is no stranger to victories at Cheltenham - he’s the only trainer to amass more than 100 wins at the festival (113). Gaelic Warrior is his top entry in the Ryanair Chase in 2026, and a 2/1 favourite.

Below you can see a full breakdown of Gaelic Warrior's form in the build up to Cheltenham Festival 2026:

The Paddy Power Stayers' Hurdle - Teahupoo (7/4)

After finishing second in The Paddy Power Stayers' Hurdle in 2025, Teahupoo is back this year and comes into the race as 7/4 favourite. The 8-year-old, trained by Elliott Gordon, is in incredible form heading into the festival, having won his last three races.

Below you can see a full breakdown of Teahupoo's form in the build up to Cheltenham Festival 2026:

The Boodles Cheltenham Gold Cup - Fact To File (4/1)

On the final day, everyone's attention turns to The Boodles Cheltenham Gold Cup, with last year's winner of the Ryanair Chase Fact To File the 4/1 favourite as it stands.

Below you can see a full breakdown of Fact To File's form in the build up to Cheltenham Festival 2026:

How to Bet on Cheltenham Festival Favourites

Betting on favourites at the Cheltenham Festival relies on a combination of finding value in the odds, timing your bets effectively and utilising each-way betting when appropriate. By dedicating the time to research races, you can increase the chance of a winning bet by betting on the festival favourites.

Identifying Value in the Odds

Identifying value in the odds is all about finding horses with odds that are higher than the realistic chances of winning. Although often time-consuming, this can prove the most successful strategy for wagering on favourites.

To build a clear picture, start by studying the horse's form and recent performances alongside the trainer and jockey's statistics. Compare the odds offered by multiple bookmakers to find discrepancies. The Oddschecker comparison tool is the perfect assistant for this.

Understand the market movements and stay current on trends suggesting a horse may be over- or undervalued.

Timing Your Bets

The timing of your bets is another key area to consider when placing wagers at the Cheltenham Festival. Bettors take two primary approaches here - ante-post betting and betting on the race day.

Ante-post involves placing your wagers well in advance of the race. Bettors often use this strategy to secure better odds, as the bookie's predictions may be off early. You are, however, at risk of the horse performing poorly on the day due to a myriad of factors.

Wagering on the day offers more certainty to bettors about the horses, their form and the course conditions. With more data available, odds may shorten as more bettors place wagers on the favourites.

Each-Way Betting

Each-way betting is a valuable tool for bettors, allowing for an element of risk to be mitigated. Consider each-way betting when there’s uncertainty in the field, the odds of the favourite are at least 4/1, or there are horses with records of placing in the field. The insurance policy offered by each-way betting is favoured by many bettors. However, for clear favourites - the bet type is often considered unnecessary.

Day-by-Day Cheltenham Festival 2026 Race Favourites

With 28 races over four days, the Cheltenham Festival can become challenging to keep track of. Below, we’ve listed the favourites - and their current odds - for the headline races each day of the festival.

Day 1 – The Unibet Champion Hurdle 2026

The Unibet Champion Hurdle is the first feature race of the festival. The 2-mile Grade 1 hurdle takes place at 16:00 on Tuesday, 10 March 2026.

The key contenders and current odds for the Champion Hurdle are broken down in the table below:

Champion Hurdle 2025 Winner – Golden Ace

Trained by Jeremy Scott and ridden by Lorcan Williams, Golden Ace was a 25/1 outsider, but became the seventh mare to win the Unibet Champion Hurdle at last year's festival.

Day 2 - The BetMGM Queen Mother Champion Steeple Chase 2026

The BetMGM Queen Mother Champion Steeple Chase is the feature race on Ladies Day. Runners in this Grade 1 event jump over 12 fences over the course of 2 miles, which is set to take place at 16:00 on Tuesday, 11 March 2026.

The key contenders and current odds for the Champion Chase are broken down in the table below:

Champion Chase 2025 Winner – Marine Nationale

 Marine Nationale (5-1), who was ridden to success two years ago at The Festival in the Supreme Novices’ Hurdle, landed the feature Grade One BetMGM Queen Mother Champion Chase alongside trainer and owner Barry Connell in 2025.

Day 3 – The Ryanair Chase 2026

The Ryanair Steeple Chase is the first of the feature races on Thursday. The 2-mile 4-furlong Grade 1 chase is set to take place at 16:00pm on Thursday, 12 March 2026.

The Ryanair Chase 2025 Winner – Fact To File

Trained by Willie Mullins and ridden by Mark Walsh, Fact To File was the comfortable winner of last year's Ryanair Chase.

Day 3 – The Paddy Power Stayers' Hurdle 2026

The Paddy Power Stayers’ Hurdle is one of the feature races on Thursday. The 3-mile Grade 1 hurdle is scheduled for 3:20pm on Thursday, 12 March 2026.

The key contenders and current odds for the Stayers’ Hurdle are broken down in the table below:

The Paddy Power Stayers’ Hurdle 2025 Winner – Bob Olinger

Bob Olinger, ridden by jockey Rachael Blackmore and trained by Henry de Bromhead. The 10-year-old gelding beat the favourite and defending champion, Teahupoo, by a length and three quarters.

Day 4 – The Boodles Cheltenham Gold Cup 2026

The Boodles Cheltenham Gold Cup Steeple Chase is the feature race on Friday and the highlight of the Cheltenham Festival. The 3-mile 2-furlong Chase is set to take place at 16:00 on Friday, 13 March 2026.

The key contenders and current odds for the Gold Cup are broken down in the table below:

Cheltenham Gold Cup 2025 Winner – Inothewayurthinkin

Inothewayurthinkin, ridden by Mark Walsh and trained by Gavin Cromwell was a 15/2 shot and won by six lengths. The 7-year-old gelding denied the 8/13 favourite, Galopin Des Champs, a chance at a historic third consecutive Gold Cup victory.

How many favourites won at Cheltenham Festival 2025?

Looking at last year’s winners can be beneficial to examining how favourites perform in reality. In 2025, nine of the 28 races were won by the favourite, which is approximately 32%.

However, one noticeable difference from previous festivals was that there was only one favourite who went on to win out of the five feature races, with that being Fact To File in The Ryanair Chase.

If you compare this to the 2024 festival, there was three SP favourites that came out victorious, including in the famous Gold Cup.

The table below shows the winner of each of the headline races alongside the Starting Price (F denotes the favourite) of the horse:

Factors Influencing Cheltenham Festival Favourites

There are a number of factors that influence a favourite at the Cheltenham Festival. Understanding how horses are chosen as favourites is a vital strategy for identifying betting opportunities.

Track Conditions

The track conditions at Cheltenham are notorious and play pivotal roles in determining the odds of key contenders in a race. The undulating terrain and challenging fences are favoured by those horses with a knack for this course type.

Weather and Ground Conditions

The weather and ground conditions go hand-in-hand and can drastically affect the performance of even the best racehorse. Rainfall levels and temperature are the two main culprits of ground condition change. Whether the conditions are damp, dry, cold or warm - the weather affects the course conditions, favouring some competitors over others.

Jockey/Trainer Form

The form of a horse’s jockey and trainer will significantly impact the odds offered. A trainer, such as Willie Mullins or Nicky Henderson, with a jockey like Rachel Blackmore or Paul Townend, will always attract attention. Looking out for those key pairings is key to bagging reasonable prices in the betting markets.

Market Movements and Betting Odds Changes

Ante-post betting, in horse racing, refers to placing a bet before the racecourse betting market opens. The bookies set these early odds from initial assessments of a horse’s form.

The ante-post markets, regularly available months in advance, are often subject to significant shifts. These can be related to recent race results, injuries, weather and key announcements.

Trainer and, in particular, jockey announcements are key in the ante-post shifts. A trainer confirming the entry of a horse with a specific target or booking a highly skilled jockey can boost market confidence and shorten odds.

Trainer and Jockey Announcements: Statements from trainers or the assignment of a top jockey can also influence ante-post odds. A trainer’s declaration of a horse’s intended target race can clarify the betting market, while a high-profile jockey booking can increase market confidence.

By keeping current on any ante-post developments, bettors can identify market trends and place strategic ante-post wagers. These early observations can bag bettors a great, early price.

FAQs

How many favourites win at the Cheltenham Festival?

On average, favourites will win 8 of the 28 races run at any given Cheltenham Festival.

What percentage of favourites win at the Cheltenham Festival?

As a percentage, 29% of races run at Cheltenham will be won by a favourite. This figure changes dramatically depending on the event selected. For example, in the Gold Cup, the favourite will win 50% of the time.

Who is the heaviest favourite at Cheltenham?

The heaviest favourite among the feature races at Cheltenham 2025 is Galopin Des Champs, with current odds of 11/10.

What are some popular betting strategies for favourites?

Popular betting strategies for favourites include only wagering on favourites in statistically likely events, e.g., The Gold Cup, Champion Hurdle, etc.

Other options include placing early ante-post bets, benefitting from Best Odds Guaranteed promotions and leveraging Each Way bets where necessary.