Leading European betting player portal bettingexpert.com has analysed the four days of Cheltenham Festival 2016 wagering, in what has been dubbed ‘the worst ever Cheltenham’ by UK bookmakers.
Publishing detailed analysis of betting trends at Cheltenham 2016, bettingexpert has estimated that bookmakers were approximately down £3.21 per punter.
With tens of millions of wagers taken over the course of the Festival, bettingexpert analysis points to astronomical losses for the bookies, who thus far have estimated Cheltenham 2016 to have cost them a combined +£60 million in losses.
Day 3 of Cheltenham proved to be a nightmare for bookmakers, following wins by heavily-backed favourites Vautour, Thistlecrack and Limini, with bettingexpert estimating a cost £17 per punter for bookies.
There was more misery for the bookmakers on day four, with 9/4f Don Cossack taking the Gold Cup, and wins elsewhere for Ivanovich Gorbatov and On The Fringe, contributing to a £1.38 profit for punters
bettingexpert top racing tipster Stephen Harris, said: “The Cheltenham Festival is a shop window for bookmakers, but they’ll wish they’d closed early after the punting public truly cleaned them out. It was a fantastic week of racing, and a great few days for anyone who finished with a few extra quid in their pocket.”
Jesper Søgaard, CEO and Co-Founder of bettingexpert commented on the data
“At bettingexpert.com, we go to great lengths to provide punters with the tools to enjoy success when they have a flutter. Our in-depth analysis of the Cheltenham Festival shows that, with the right information and a bit of luck on your side, there is always an opportunity to get one over on the bookies.”
Statistics show that this year’s Cheltenham Festival was even more disastrous for bookmakers than 2015, which bettingexpert’s research found to have lined punter’s pockets by £1.26 per bet across the four days.