Cheltenham Favourites 2026
Last Updated 29 Oct 2025 | By The GrandNational.org.uk StaffCheltenham favourites are always the most popular picks during the Festival. And with the first Cheltenham races of the new season taking place already, it’s worth getting to know the key contenders. Betting favourites often feature in special Cheltenham betting offers from top bookmakers, so having some knowledge about each can pay off!
Cheltenham Festival 2026 Favourites
Many horses are set to return for another shot at the Cheltenham Festival in 2026, with previous winners often leading the ante-post markets. Inothewayurthinkin, a former Gold Cup winner, is currently at the top of the 2026 Cheltenham Gold Cup betting.
Day 1 – Champion Hurdle 2026
The Champion Hurdle is the feature race on day one of the Cheltenham Festival. The 2025 race saw real drama, as Constitution Hill failed to live up to his status as odds-on favourite, before State Man fell when looking certain for victory.
The early signs are that 2026 will see new contenders come to the fore. The New Lion enjoyed an unbeaten 2024/25 season, culminating in a Cheltenham Festival victory in the Turners Novices’ Hurdle. That form has solidified the 6-year-old’s position as the favourite for the 2026 Champion Hurdle. There he’s likely to be up against both Constitution Hill and State Man, with the pair keen to avenge March’s disappointment.
The table below uses the current betting market to give an insight into the percentage chances of the top four contenders for the 2026 Champion Hurdle.
| Champion Hurdle Runners | Winning Chance |
|---|---|
| The New Lion | 20% |
| Lossiemouth | 12% |
| State Man | 12% |
| Constitution Hill | 11% |
Implied probability based on best odds on 24th October 2025. Percentages can add up to more than 100% due to bookmakers’ margin.
Day 2 – Champion Chase 2026
The Champion Chase, a top Grade 1 contest, features the best two-mile chasers in the business. Jonbon went into the 2025 race as the one to beat, having won at the Cheltenham November Meeting and again at Sandown in the Tingle Creek. However Marine Nationale beat him into second by 18 lengths. Sir Gino, who had been fancied for the Arkle before injury put paid to his hopes, is the the Champion Chase joint favourite this time round, while Majborough and Jonbon are amongst the other contenders heading into the new jumps season.
| Champion Chase Runners | Winning Chance |
|---|---|
| Marine Nationale | 20% |
| Sir Gino | 20% |
| Majborough | 13% |
| Il Etait Temps | 9% |
| Jonbon | 7% |
Implied probability based on best odds on 27th October 2025. Percentages can add up to more than 100% due to bookmakers’ margin.
Day 3 – Ryanair Chase 2026
Day three’s most valuable race, if not the feature event, is the 2½-mile Grade 1 Ryanair Chase. Also known as the Festival Trophy, this event has raised its profile gradually over the years to become one of the most important races on the National Hunt calendar. Fact To File is the Ryanair favourite, having won the race in 2025 in impressive fashion by nine lengths.
| Ryanair Chase Runners | Winning Chance |
|---|---|
| Fact To File | 29% |
| Majborough | 13% |
| Gaelic Warrior | 8% |
| Il Etait Temps | 7% |
| Jonbon | 7% |
Implied probability based on best odds on 27th October 2025. Percentages can add up to more than 100% due to bookmakers’ margin.
Day 3 – Stayers’ Hurdle 2026
Thursday’s championship event is the Stayers’ Hurdle, a three-mile slog around the New Course. Bob Olinger rolled back the years to beat ante-post favourite Teahupoo, but it’ll be a tough task to make it back-to-back Stayers’ victories as an 11 year old. Instead, Teahupoo is the favourite to improve on a runners-up spot, while Ballyburn is likely to be Willie Mullins’ leading hope for the race come March.
| Stayers’ Hurdle Runners | Winning Chance |
|---|---|
| Teahupoo | 15% |
| Ballyburn | 15% |
| The Yellow Clay | 9% |
| Bob Olinger | 7% |
| East India Dock | 5% |
Implied probability based on best odds on 27th October 2025. Percentages can add up to more than 100% due to bookmakers’ margin.
Day 4 – Cheltenham Gold Cup 2026
Inothewayurthinkin was a late entrant for the Gold Cup last year, and the decision was shown to be fully justified as the Gavin Cromwell trained runner saw off all-comers to win by six lengths. This meant Galopin Des Champs was denied a third successive Gold Cup victory. Galopin des Champs is the second favourite heading into the new season, setting up the tantalising possibility of the two renew their rivalry in March, if not sooner than that.
As with last year, Fact to File features prominently in the betting, although the likelihood is that he’ll again be diverted to the Ryanair instead.
Also amongst the ante-post Cheltenham favourites for the Gold Cup are Fastorslow, Gaelic Warrior, and Haiti Couleurs, the Irish National winner who also heads the Grand National 2026 runners.
| Gold Cup Runners | March ’25 Odds | Oct ’25 Odds |
|---|---|---|
| Inothewayurthinkin | 5/1 | 4/1 |
| Galopin Des Champs | 9/1 | 6/1 |
| Fact To File | 6/1 | 12/1 |
| Gaelic Warrior | 50/1 | 16/1 |
| Fastorslow | 16/1 | 20/1 |
| Haiti Couleurs | 66/1 | 25/1 |
| Majborough | 25/1 | 33/1 |
| Grey Dawning | 25/1 | 33/1 |
| Lecky Watson | 22/1 | 33/1 |
*Latest odds correct at 3pm on 24th October 2025 and are subject to change.
Cheltenham Favourites 2026 – Ante-Post Betting Guide
One of the key advantages of Cheltenham betting is the ability to place ante-post bets on major championship races well in advance of the Festival.
As soon as one Cheltenham Festival ends, betting sites like Paddy Power and Betfair open ante-post markets for the following year’s top races, including the Gold Cup, Champion Hurdle, and Champion Chase.
As the Festival approaches, more races become available for betting, with odds and favourites constantly shifting based on horses’ performances in the lead-up to the event.
Non-Runner, No Bet
In the weeks leading up to the Cheltenham Festival, major betting sites like Paddy Power, William Hill, Coral, and bet365 typically introduce Non-Runner No Bet (NRNB) on their ante-post markets. This means that if your selected horse doesn’t run, your stake is refunded, and the bet is voided.
Ante-post betting carries risk, as stakes are usually lost if a backed horse is withdrawn before race day. However, many bookmakers offer NRNB as a safeguard, initially covering the feature races before expanding to all 28 Cheltenham Festival races closer to the event.
Additionally, operators like Paddy Power and Betfair often provide extra places and odds boosts, giving you even more value on your Cheltenham bets.
Cheltenham Festival: Horse Racing – Cheltenham Festival – Cheltenham Racecourse, Cheltenham, Britain – March 12, 2019 Jeremiah McGrath on Beware The Bear celebrates winning the 2:50 Ultima Handicap Chase REUTERS/Eddie Keogh/Ritzau Scanpix
Cheltenham Festival Live Betting
Paddy Power and bet365 are two of the UK’s biggest bookmakers, both offering live betting on Cheltenham Festival races. This allows customers to place bets on race winners even after the race has started, with odds adjusting in real time as the action unfolds. Betting remains available until the result becomes clear.
Some bookmakers also offer place-only betting and each-way options on live races, particularly for Cheltenham favourites.
Many UK betting sites provide live streaming of Cheltenham races, though access typically requires a placed bet. Additionally, a cash-out feature is available on select bets, enabling customers to secure a profit or minimise losses before the race is over.
Cheltenham Betting Offers 2026
Most bookmakers will have extra Cheltenham Festival offers in the weeks leading up to the event – these can include faller insurance and extra place offers so it’s always best to shop around and find the best Cheltenham offers.
The welcome offers are generally matched deposit and bet bonuses. Any bonus funds can be used for betting on winners at Cheltenham. Each welcome offer is available when the Terms & Conditions are followed completely. You can check out all the best Cheltenham 2026 betting offers here.
Cheltenham Favourites Summary
The Cheltenham Festival is one of the biggest events in the betting calendar, with all major bookmakers offering ante-post markets on race winners. Customers can place win and each-way bets, with some bookmakers also providing enhanced odds on selected runners.
In the weeks leading up to the Festival, Non-Runner No Bet (NRNB) becomes a popular concession, offering added security for ante-post bets. With a wide range of welcome offers and promotions available, Cheltenham presents plenty of opportunities to bet on the Festival’s biggest races and favourites.
*All odds subject to change.
Cheltenham Festival 2025 Winning Favourites
If you want a reminder of how the 2025 Cheltenham Festival favourites fared then look no further. You can find all the Cheltenham favourites who justified their betting odds in the table below.
| Day | Race | Horse | SP* |
|---|---|---|---|
| 1 | Supreme Novices’ | Kopek des Bordes | 8/11 |
| 1 | Ultima Chase | Myretown | 13/2 |
| 1 | Mares’ Hurdle | Lossiemouth | 4/6 |
| 1 | National Hunt Chase | Haiti Couleurs | 7/2 JF |
| 2 | Cross Country Chase | Stumptown | 5/2 |
| 3 | Ryanair Chase | Fact To File | 6/4 |
| 3 | Trust-A-Trader Plate | Jagwar | 3/1 |
| 4 | County Hurdle | Kargese | 3/1 |
| 4 | Mares Steeple Chase | Dinoblue | 6/4 |
Cheltenham Festival Favourites FAQs
What percentage of favourites win at the Cheltenham Festival?
Using the data from the last five years, 32.1% of horses that were the SP favourite at the Cheltenham Festival won. This result correlates closely with the well-established belief among horse racing fans that roughly 1 in 3 SP favourites go on to win.
Who is the heaviest favourite at Cheltenham?
At this stage, the heaviest favourites at this year’s Cheltenham Festival will both run on day three. They are Lossiemouth in the Mares Hurdle and Fact to File in the Ryanair Chase. The double currently pays out at nearly 10/1, so bookmakers will be facing an expensive payout if it comes in.
Who is favourite to win the Cheltenham Champion Hurdle?
The New Lion is the favourite for Tuesday’s Cheltenham Champion Hurdle. He enjoyed an unbeaten debut season in 2024/25, culminating in a win at Cheltenham, so it’ll be interesting to see if history can repeat itself this season.
Who is favourite to win the Cheltenham Gold Cup?
Inotheywayurthinkin is an early favourite for this year’s Cheltenham Gold Cup. He was only added to the race late on at last year’s Cheltenham Festival, but is surely set to renew his rivalry against two-time Gold Cup winner Galopin des Champs.
What is the most popular race at Cheltenham?
The Gold Cup is undoubtedly the headline contest of the Cheltenham Festival. The majority of racing fans recognise it as the most prestigious race at the year’s most significant jumps meeting. While the Cheltenham Gold Cup is a highlight, there’s elite action to enjoy throughout the card on all four days.
Who is the leading jockey at Cheltenham Festival?
Champion Jump Jockey Paul Townend has won the Leading Jockey title at the Cheltenham Festival in four of the last five years. His total of 6 winning runs in 2024 put him head and shoulders above his nearest rival. Townend’s haul included winning the Cheltenham Gold Cup on Galopin Des Champs and the Champion Hurdle on State Man. Given the quality of his potential rides, he has a solid chance of retaining the title at the 2025 Cheltenham Festival.
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The GrandNational.org.uk Staff
