Cheltenham Festival 2026 Favourites – Rating the Chances of the Cheltenham Bankers this Year

Last Updated on 05/03/2026 by Andy Clark

Favourites win around a third of all Cheltenham Festival races — which sounds solid enough until you account for the fact that two-thirds of them get beaten. At a meeting where the best horses in Britain and Ireland converge across 28 races in four days, even the most heavily-backed market leaders face genuine opposition, and the Festival has a long history of turning supposed bankers into costly losers. Here we take a close look at the key favourites for Cheltenham 2026, weigh up their chances race by race, and give an honest assessment of whether the market has got it right.

For full race-by-race ante-post tips across all 28 Festival races, see our Cheltenham Festival tips hub. If you’re planning to back any of the favourites below, our non-runner no bet guide covers which bookmakers protect your stake if your selection doesn’t line up, and our Cheltenham free bets guide has the best sign-up offers available for new customers ahead of the Festival.

Backing favourites in horse racing is for many a perfectly sound strategy, but it’s a fact that favourites can – and often – lose out. At the Cheltenham Festival, the trend is no different.

Plenty of horses have already earned ‘banker’ status with plenty of punters, and throughout the course of the four days, there will be both short-priced favourites and longer-priced favourites in the most competitive races. Had a punter backed every favourite at the 2025 Cheltenham Festival, they’d have collected nine times – a strike-rate of 33% – and in general favourites more than hold their own across the duration of the four days.

Here we take a look at a few of the shorter-priced favourites and assess their chances.

Arkle Chase – Lulamba (2/1)

Nicky Henderson’s Lulamba has emerged as the clear favourite for the Arkle after an eye-catching campaign over fences this season, including a convincing victory in the Grade 2 Game Spirit Chase at Newbury that cemented his status at the head of the betting.

Last season’s Triumph Hurdle runner-up has seen swift and impressive progression from hurdles into the novice chasing ranks, showing a potent blend of speed and accuracy over fences that the Arkle’s two-mile trip demands; while his trainer’s history in the race further bolsters his credentials given Henderson has been represented in this race by the likes of Sprinter Sacre, Simonsig, Altior and Shishkin in the past so the master of Seven Barrows knows what’s needed to win an Arkle.

He’s probably the right favourite for the race, but Henderson and Willie Mullins have traded blows in this race for several years, and the latter saddles an exciting opponent in last season’s Supreme Novices’ Hurdle winner Kopek Des Bordes, who will ensure Lulamba doesn’t get his own way.

Winning chance: 7.5/10

Champion Hurdle – The New Lion (5/2)

Dan Skelton’s The New Lion heads the Champion Hurdle market as the current ante-post favourite after a string of authoritative wins, including at Cheltenham itself in novice company, although he did also hit the deck at Newcastle, and his latest victory was perhaps more workmanlike than connections would have liked.

However, stepping into the pinnacle of two-mile hurdles places him against seasoned Grade 1 rivals such as Brighterdaysahead and Lossiemouth, who have both confirmed for the race rather than take in the Mares’ Hurdle.

Cheltenham’s uphill finish can expose slight weaknesses in stamina or tactical adaptability, but The New Lion won the Turners Novices’ Hurdle over further twelve months ago and won’t lack for stamina at the business end. However, similar comments apply to Lossiemouth, who also receives a weight allowance and may well end up favourite on the day.

Winning chance: 7/10

Champion Chase – Majborough (10/11)

With Marine Nationale withdrawn from the Champion Chase, Majborough – trained by Willie Mullins – has strengthened in the betting at around odds-on in the ante-post market.

He stamped himself as a leading contender with a commanding 19-length front-running victory over Marine Nationale in the Dublin Chase, showing a potent combination of pace and stamina that Cheltenham’s Grade-1 two-mile test demands.

While Majborough has occasionally been prone to scrappy jumping and can be vulnerable if pressured early, his ability to dominate from the front gives him a strong profile for Prestbury Park’s uphill finish.

With the obvious danger gone and few rivals of comparable class confirmed to oppose him, he deserves respect – although an odds-on favourite in a Festival Grade 1 is never guaranteed and only six of the last 20 favourites have won the Champion Chase, so favourite backers should tread with caution.

Winning chance: 8/10

Mares’ Novices’ Hurdle – Bambino Fever (4/5)

Bambino Fever is many punters’ idea of a Festival banker despite suffering a hurdling debut reversal, but Willie Mullins’ charge’s credentials are hard to quibble over, and her career victories include winning the Champion Bumper at both Cheltenham and Punchestown last term, giving her an excellent profile for this contest.

She didn’t quite live up to an odds-on tag on her hurdling debut, finishing second – but that defeat came at a time when the Mullins yard wasn’t firing on all cylinders, and as her first run of the season, she likely needed the run. She quickly bounced back to win a maiden hurdle impressively by a wide margin, suggesting she’s improving and learning with each start.

Just how good she is is unknown, but trainer’s son Patrick Mullins reckons she’s the yard’s best hope of a winner, which is high praise indeed given the sheer strength of the Mullins battalion that will roll into Cheltenham.

However, having won the first five renewals of this race, Willie Mullins has come up short in each of the five renewals since his last winner in the race, Concertista in 2020. However, Bambino Fever could end that losing streak and she’s a worthy favourite who will be hard to beat.

Winning chance: 9/10

Stayers’ Hurdle – Teahupoo (23/10)

Teahupoo won the Stayers’ Hurdle in 2024 and heads the ante-post betting in the Stayers’ Hurdle for this year’s renewal. He’s had an excellent season already with two wins, which include one over 2025 champion Bob Olinger, and the pair are set to reoppose at the Festival once more.

He’ll arrive a fresh horse having had a break since his win at Leopardstown over Christmas, but whether the ground at Cheltenham on the Thursday will be soft enough for him is unknown and casts a little doubt over his chances. Gordon Elliott’s charge is, however, a worthy favourite given his record over this trip and as a former winner, he’s sure to be a popular selection, although there’s plenty of dangers in the field, including defending champion Bob Olinger and rising staying stars Ma Shantou, Kabral Du Mathin and Honesty Policy.

Winning chance: 6.5/10

Ryanair Chase – Fact To File (4/6)

Defending champion having won this twelve months ago, Fact To File got back to winning ways at Leopardstown during the Dublin Racing Festival, beating Gaelic Warrior in the Savills Chase, and the JP McManus-owned gelding holds solid claims of a repeat.

Cheltenham certainly brings out the best in him, with his record at the Festival reading 211, and he arrives here seemingly at the top of his game following his last-time win. Unsuited by the demands of Kempton in the King George VI Chase, he showed his best latest and he’s a worthy favourite for this contest, assuming the ground doesn’t dry out too much.

Winning chance: 7/10

Mares’ Chase – Dinoblue (6/4)

Dinoblue heads the market for the Mares’ Chase at the Cheltenham Festival as she bids to defend the title she won dominantly last year.

Trained by Willie Mullins, who also has the likes of Spindleberry and Jade De Grugy as possible alternatives, she showed her class when travelling strongly before quickening clear to land the 2025 renewal and has continued to hold her form well in mares’ company since.

She arrives at Cheltenham on the back of wins at Fairyhouse and Naas, and she has obvious claims of following up last year’s victory, given her proven Festival form and slick jumping make her a very solid favourite. However, with a few younger and progressive rivals in opposition, she likely will face a big challenge for her crown.

Winning chance: 6.5/10

---

Backing Cheltenham Favourites in 2026 — The Verdict

Seven favourites assessed, and the picture is a mixed one. Bambino Fever stands out as the most reliable banker of the meeting at 9/10 — her Cheltenham bumper form, the Patrick Mullins endorsement and the improving profile over hurdles all point in the same direction. Majborough in the Champion Chase is the other standout at 8/10, with Marine Nationale’s absence dramatically reducing the opposition, though odds-on Festival favourites always carry risk.

At the other end of the scale, Teahupoo in the Stayers’ Hurdle and Dinoblue in the Mares’ Chase both carry more doubt — ground conditions at Prestbury Park in mid-March are unpredictable, and both horses come with significant caveats attached to their chances.

The New Lion is the headline act of the whole Festival for many British punters, but the Champion Hurdle market is far from settled, and Lossiemouth’s presence keeps this a genuinely open race.

For the full ante-post breakdown across all 28 races — including the races not covered here — see our tipsters’ day-by-day selections below.

Day by day:

• Cheltenham Day 1 Tips – Supreme, Plate, Champion Hurdle, Arkle
• Cheltenham Day 2 Tips – Champion Chase, Turners, Grand Annual
• Cheltenham Day 3 Tips – Mares’ Hurdle, Stayers’, Ryanair, Pertemps
• Cheltenham Day 4 Tips – Mares’ Chase, Gold Cup, Triumph, Martin Pipe

Read more:

• Willie Mullins Cheltenham 2026 – The Closutton team’s Festival hopes race by race
• Dan Skelton Cheltenham 2026 – Skelton’s live chances across all four days
• Cheltenham free bets guide – Best sign-up offers for new customers
• Non-runner no bet at Cheltenham – Which bookmakers protect your ante-post stake

---

Odds correct at time of writing. Prices will move — always check current quotes before betting. 18+ only. Please gamble responsibly.