With the iconic Cheltenham Festival starting today, racing fans across the UK will be preparing for what is widely accepted as the most significant and elite racing event of the year. While a staple event on the sports calendar, the 2023 renewal is expected to generate more revenue than ever before.
According to online gambling aggregator, freebets.ltd.uk, this year's Cheltenham Festival is on track to generate £1BN in gambling income, exceeding all previous years. Comparing engagement levels and statistics from previous renewals, freebets.ltd.uk predicts the Cheltenham Festival to be the biggest betting event of 2023.
The brand has reported a "significant" spike in traffic in the lead-up to the Cheltenham Festival, with a large proportion of its betting community comparing and claiming offers for the four-day festival in advance.
Freebets.ltd.uk, which aggregates online betting offers from licensed bookmakers, has also reported the early promotion of Cheltenham betting offers when compared to previous years, with bookmakers eager to capitalise on this year's festival. This is arguably to recoup losses from previous years impacted by COVID and in response to the growing appetite for racing promotions amongst an up-and-coming, younger community of racing punters.
"Our bettors have been getting their ducks in line when it comes to their ante-post bets and promotions. Although still a few weeks away, bookmaker offers are coming in thick and fast, and have been for months. From Betway's "Countdown to Cheltenham'' offer to many bookmakers promoting extra places, faller insurance and "no runner no bet" deals, we have never seen such hype around Cheltenham Festival betting markets so early," comments Abigail Moses, this business' Marketing Director.
When exploring other reasons for this increase in appetite for Cheltenham bets, Moses continues: "We are seeing an uptake in betting activity in the 18-30 age group, which can be rationalised by the rise in racing social media influencers, vloggers and tipsters using social channels such as TikTok, Instagram and Twitter to educate, inform and share racing predictions. This has resulted in a burgeoning community of young racing fans with a keen interest in events like Cheltenham."
Moses believes the standard of racing expected for 2023 to also be a contributing factor.
"While Cheltenham consistently brings us the best horses, trainers and jockeys, we can expect an even higher standard of racing this year – and many will be focused on the performance of Constitution Hill. As the winner of the Supreme Novices' Hurdle in 2022, the Nicky Henderson-trained six-year-old went on to win two more Grade 1 races over the Autumn, the Fighting Fifth Hurdle and the Christmas Hurdle. He is odds-on favourite to win the Champion Hurdle at Cheltenham and if he does, he could be regarded as one of the all-time great hurdlers," she continues.
Freebets.ltd.uk has launched a section of its website dedicated to Cheltenham betting. Here, users can compare Cheltenham Festival free bets, read racing previews, access racecards and take advantage of daily betting tips and NAPS.
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