Oddsmakers took a hit on the opening day of the Cheltenham Festival, particularly during the initial race. Sky Bet allegedly lost approximately £3 million ($3.9 million) when the 6/1 longshot Klassical Dream, conditioned by Willie Mullins, triumphed in the Supreme Novices’ Hurdle.
Sky Bet was featuring a Festival promotion offering patrons a “guaranteed return” wager of up to £20 on the first contest each day. If the customer’s selection lost, they would receive their stake (up to £20) back in cash.
William Hill also purportedly experienced a deficit, theirs totaling around £2.2 million, but on the festival’s third day. The heavily favored Paisley Park attracted substantial wagers, including a single bet costing William Hill £500,000. The seven-year-old ultimately secured victory in the Stayers’ Hurdle, an outcome that undoubtedly boosted numerous bettors’ balances but made a dent in the bookmakers’.
Although the complete extent of the bookies’ gains and setbacks remains unclear, it is probable that they incurred overall losses on the Festival’s Thursday, as favorites won three out of the five races. Nevertheless, longer-odds victors in the Gold Cup – Al Boum Photo at 12/1, second-place Annibale Fly at 22/1, and third-place finisher Bristol De Mai at 18/1 – likely enabled the bookies to recover some of their deficits.