Cheltenham Non-Runner No Bet 2026 – Which Bookmakers Are NRNB and on Which Races?

Last Updated on 25/02/2026 by Andy Clark

Non-Runner No Bet has become the defining ante-post concession at the Cheltenham Festival. Every major bookmaker now offers it in some form, but the coverage varies — all 28 races at some firms, selected races at others, exclusively NRNB at one firm, with no standard ante-post market at all.

With the 2026 Festival just a few days away and declarations approaching, this guide covers exactly who is offering what, confirmed for this year.

What Is Non-Runner No Bet?

In the standard ante-post market, the rule is simple and unforgiving: if your horse does not run for any reason — injury, change of plans, trainer switching targets, going concerns — your stake is lost. The bet is settled as a loser regardless of whether the horse ever made it to the racecourse.

Non-Runner No Bet changes that entirely. In a clearly labelled NRNB market, if your selection is declared a non-runner, your full stake is returned in cash. The bet is voided rather than lost. You get your money back and can place it elsewhere.

Some bookmakers use slightly different terminology — Non-Runner Money Back (NRMB) is the same thing. The mechanics are identical: non-runner declared, stake returned in cash.

NRNB applies to ante-post bets only. Once a race reaches the stage of final declarations — typically 48 hours before the off — the day-of-race market opens and standard non-runner rules apply. NRNB is the ante-post concession only.

Why NRNB Matters Particularly at Cheltenham 2026

The 2026 Festival is unusually well-suited to NRNB betting because the field contains an exceptionally high number of horses with genuine dual entries — legitimate targets in two different races with the final decision not yet made.

The horses where NRNB is most relevant right now:

Lossiemouth — entered in both the Champion Hurdle and the Mares’ Hurdle. She is the highest-rated mare in training, and both races are realistic targets. Back her in either NRNB market, and you are covered if connections opt for the other race.

Gaelic Warrior — entered in both the Ryanair Chase and the Cheltenham Gold Cup. A dual-entry at the very top of the market for two of the Festival’s biggest races. NRNB on either market protects you completely if he lines up in the other.

Lulamba — entered in both the Arkle Novices’ Chase and the Brown Advisory Novices’ Chase. Romeo Coolio (winner of the Irish Arkle) is in a similar position. Connections have signalled the Arkle but have not closed the door on the Brown Advisory.

Willie Mullins horses broadly — Mullins is renowned for holding back final declarations and switching targets at short notice. His string routinely holds entries across multiple races. NRNB on any Mullins horse with more than one entry removes the uncertainty from the betting decision entirely.

Beyond dual entries, non-runners at Cheltenham happen at a slightly above-average rate compared to the season generally. The intensity of preparation, the ground sensitivity of many horses and the logistics of getting horses from Ireland to Cheltenham all contribute. Jump trainers withdraw on average around 6–7% of their declared horses across the season; the Cheltenham rate is estimated slightly above that.

Which Bookmakers Are NRNB for Cheltenham 2026 — Confirmed List

BookmakerRaces CoveredRefund TypeBoth Markets?Notes
bet365All 28 racesCashYesLive from 3 Feb 2026
Betfair SportsbookAll 28 racesCashYesLive from 13 Feb 2026
BetfredAll 28 racesCashNo — NRNB onlyNo standard ante-post market
BoylesportsAll 28 racesCashYesLive from 9:00 GMT 23 Feb 2026
CoralAll 28 racesCashYesConfirmed 2026
LadbrokesAll 28 racesCashYesConfirmed 2026
Paddy PowerAll 28 racesCashYesConfirmed 2026
Sky BetAll 28 racesCashYesConfirmed 2026
William HillAll 28 racesCashPartialStandard market on 5 Championship races only
BetVictorAll racesCashYesNRNB via Run For Your Money policy
LiveScore BetSelected racesCashYesConfirmed selected races — check site
BetMGMSelected racesCashYesConfirmed selected races
UnibetNot offering——Standard ante-post only

Note on William Hill: William Hill were the first to go NRNB in 2026 (from 1 January), covering all 28 races. However, they retain a standard ante-post market on the five Championship races — Champion Hurdle, Queen Mother Champion Chase, Stayers’ Hurdle, Ryanair Chase and Cheltenham Gold Cup — for punters who prefer the bigger prices available without NRNB protection.

Note on Betfred: Betfred are exclusively NRNB on the Festival. There is no standard ante-post market. This means every ante-post bet placed with Betfred on any Cheltenham race has automatic non-runner protection built in. The trade-off is that Betfred’s NRNB prices are slightly shorter than the standard market prices at other firms.

Note on BetVictor: BetVictor’s NRNB coverage operates under their Run For Your Money policy rather than a separately labelled NRNB market. Coverage extends across Cheltenham ante-post markets, but the labelling is less prominent than at other bookmakers — check the futures/ante-post section specifically.

Note on bet365: bet365 were one of the first major bookmakers to confirm NRNB for the 2026 Festival, going live on all 28 races from 5pm on Tuesday 3rd February — over five weeks before the opening race. As in previous years, bet365 offers both a standard ante-post market and a clearly labelled NRNB market side by side on every Festival race, giving punters the choice of bigger prices with standard risk or shorter prices with full non-runner protection. For the full details of bet365’s NRNB terms, how the markets compare and our ante-post selections using the NRNB markets, see our bet365 Non-Runner No Bet Cheltenham 2026 guide.

NRNB vs Standard Ante-Post — Which to Use and When

NRNB is not always the right choice. The protection comes at a cost — NRNB prices are consistently shorter than standard ante-post prices on the same horse at the same bookmaker. How much shorter depends on the horse’s likelihood of running, their dual entry situation and the race.

When NRNB is clearly the right choice:

A horse with genuine dual entries where both races are live possibilities. Lossiemouth in the Champion Hurdle is a perfect example — if you back her standard ante-post and she goes to the Mares’ Hurdle instead, your stake is lost. In the NRNB market, you get it back. The price difference between NRNB and standard on a horse in this situation is typically modest — the market is already pricing in some non-runner risk.

A Willie Mullins or Gordon Elliott horse with multiple entries. These yards are the most likely to switch targets late. NRNB is the logical default for any horse from these yards that holds more than one entry.

Any horse where there is genuine uncertainty about running — fitness concerns, going worries, a recent setback being managed — and where you want to take an early price but cannot be confident the horse starts.

When standard ante-post may be better:

A horse with a single entry and a confirmed target. If the trainer has made clear the race is the plan, the horse is fit and there is no dual entry concern, the standard ante-post price will be bigger and the NRNB protection is largely redundant. The additional return from backing at standard odds outweighs the small non-runner risk.

Where the price difference is significant. On some horses, the gap between NRNB and standard is large enough that the standard price represents materially better value even accounting for non-runner risk. If a horse is 8/1 NRNB and 12/1 standard and you are highly confident it will run, the standard market is a significantly better bet.

A practical example:

Lossiemouth: Champion Hurdle. Available at 10/3 NRNB and 6/1 ante-post at the same bookmaker. Given genuine uncertainty about whether she runs in the Champion Hurdle or Mares’ Hurdle, NRNB at 10/3 is the clear choice. The protection is worth the price difference, given the dual entry situation.

Compare that to a confirmed Gold Cup horse such as Galopin Des Champs, who is 8/1 NRNB and 10/1 ante-post. If you are confident he runs, 10/1 standard returns significantly more, and the non-runner risk is low. The standard price is the better bet.

How NRNB Works on Multiples

Every major bookmaker applies the same rule to NRNB in multiples: a non-runner is treated as void and removed from the bet. The remaining selections stand as a smaller multiple.

A four-fold accumulator with one NRNB non-runner becomes a three-fold. A treble with one non-runner becomes a double. The odds recalculate accordingly — you do not lose the stake, but you also do not lose the multiple boost from the non-runner’s leg.

This means you can build Cheltenham accumulators in NRNB markets across multiple days and races with full protection for each leg. If any horse in the acca does not run, that leg is simply removed and the rest stands.

Worked example:

Three-fold NRNB treble: Horse A (3/1), Horse B (5/1), Horse C (4/1). Combined odds: approximately 119/1 on a £10 stake — potential return £1,200.

Horse B is a non-runner. Bet becomes a double: Horse A (3/1) and Horse C (4/1). Combined odds: approximately 19/1 on a £10 stake — potential return £200. Stake is not lost; the bet continues as a double with the original £10.

Without NRNB, the entire treble would have been a losing bet the moment Horse B was declared a non-runner.

Boylesports NRNB — All 28 Races, Cash Refund

Boylesports confirmed Non-Runner No Bet on all 28 races at the 2026 Cheltenham Festival, with the NRNB market going live at 9:00 GMT on Monday 23rd February 2026. The terms are among the most straightforward of any firm:

  • All 28 races covered — every race from the Supreme Novices’ Hurdle (Tuesday 13:20) to the final race on Friday
  • Cash refund — stake returned in full as cash, not free bet tokens
  • Singles and multiples covered — non-runner treated as void in multiples, remaining legs stand
  • No opt-in required — NRNB market is labelled in the relevant race section
  • Applies to bets placed after 9:00 GMT on 23rd February 2026 in the NRNB market specifically
  • Free bets, voided bets and cashed out bets do not qualify

For the full breakdown including which races to target with NRNB at Boylesports and how to combine NRNB with their Best Odds Guaranteed (from 8am on race day), see our Boylesports NRNB Cheltenham guide.

The Races Most Worth Using NRNB On

Not every Cheltenham race needs NRNB protection. The following races have the highest concentration of dual entries, switching targets and uncertainty — the races where NRNB adds the most value in 2026.

Champion Hurdle — Lossiemouth holds entries in both the Champion Hurdle and the Mares’ Hurdle. She is a genuine candidate for either. NRNB on the Champion Hurdle is essential if you want to back her in this race.

Mares’ Hurdle — The mirror image. NRNB here protects you if she goes to the Champion Hurdle instead.

Ryanair Chase — Gaelic Warrior is a leading contender but also holds a Gold Cup entry. Back him NRNB in the Ryanair and you are covered if he lines up in the Gold Cup.

Cheltenham Gold Cup — Gaelic Warrior again, from the other direction. Also a race where several staying chasers from the Mullins/Elliott yards hold entries across the Gold Cup, RSA/Brown Advisory and Ryanair.

Arkle Novices’ Chase — Multiple Irish novice chasers hold entries across the Arkle and Brown Advisory. Lulamba and Romeo Coolio are both in this category.

Brown Advisory Novices’ Chase — The same horses from the other direction.

Turners Novices’ Chase — Regularly draws horses that could go Supreme or elsewhere depending on ground and declarations.

Novice Hurdles broadly — The Mullins string of novice hurdlers holds entries across the Supreme, Ballymore and Turners with final decisions rarely made until close to declarations.

Common NRNB Terms Across All Bookmakers

While each bookmaker sets their own terms, the following conditions apply consistently across virtually all NRNB markets at Cheltenham:

Refund in cash. Every major bookmaker listed above refunds NRNB non-runners in cash, not as free bet tokens. Cash is withdrawable immediately or usable on any market.

Ante-post bets only. NRNB applies to bets placed in the ante-post NRNB market before final declarations. Day-of-race bets placed after the race-day market opens are not covered by NRNB.

Applies to each-way bets. Both the win and place parts of an each-way bet are refunded if the horse is a non-runner. The full stake is returned, not just the win part.

Free bet stakes not returned. If you place a NRNB bet using a free bet token and the horse is a non-runner, most bookmakers return a free bet token rather than cash. The exact treatment varies — check individual terms.

Cashed out bets excluded. If you cash out a NRNB bet before the race, the NRNB protection no longer applies. Once you cash out, the bet is settled at the cashed-out amount and non-runner rules do not apply.

Look for the NRNB label. The NRNB market is a separate, specifically labelled market from the standard ante-post market. You must place your bet in the NRNB market to receive the protection — betting in the standard ante-post market on a horse that also has a NRNB market does not give you the protection.

FAQs

Do I need to opt in to NRNB at Cheltenham? No. NRNB markets are available without opt-in at all bookmakers listed. Simply place your bet in the clearly labelled NRNB market rather than the standard ante-post market.

What is the difference between NRNB and NRMB? Nothing — they are the same concession under different names. Non-Runner No Bet and Non-Runner Money Back both mean your stake is returned in full if your selection does not run. Betfred and some others use the NRMB label.

If my horse is a non-runner, do I get cash or a free bet back? Cash at all major bookmakers listed. The refund is credited directly to your withdrawable balance, not as a free bet token.

Does NRNB apply if my horse is withdrawn on the morning of the race? Yes, provided the bet was placed in the NRNB ante-post market. A horse declared a non-runner at any point before the race — whether weeks before or on the morning — triggers the NRNB refund in the ante-post market.

Can I place a NRNB bet and a standard ante-post bet on the same horse in the same race? At bookmakers that offer both markets (bet365, Ladbrokes, Coral, Boylesports, Sky Bet, Paddy Power) yes — you can hold a bet in each market simultaneously. Some punters do this to access both the NRNB protection on part of their stake and the bigger standard price on the rest.

Does NRNB apply in-shop? Yes at Boylesports, bet365, William Hill, Ladbrokes, Coral and most other bookmakers with retail presence. Ask counter staff to confirm the NRNB market is available in-shop for your chosen race.

Betfred only offer NRNB — does that mean I lose the higher standard ante-post prices? Yes. Betfred’s exclusively NRNB stance means every Cheltenham bet at Betfred has the concession built in, but the prices are correspondingly shorter than the standard ante-post market. For horses where you are confident they will run and want the bigger price, a standard ante-post market at bet365, Boylesports or Ladbrokes (all of which offer both) will give you the higher odds.

Does NRNB apply to Cheltenham handicaps as well as Grade 1 races? Yes at most bookmakers offering all 28 races — including the Premier Handicaps. The handicap markets at Cheltenham carry significant non-runner uncertainty due to horses being entered speculatively across multiple races and weight considerations. NRNB on the big handicaps is well worth using.

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