Bookies toast beaten favourites

The bookmakers were in party mood after the first day of the Cheltenham Festival.

Heavily-backed favourites Noland, Sizing Europe, Wonderkid and Ashkazar were all beaten, while gambles on such as Patsy Hall and L’Ami in the William Hill Chase also went astray.

David Williams, of Ladbrokes, said: “We’ve a long way to go but we go into day two with the wind in our sails. Punters have had a tough time of it on the opening day and Crack Away Jack’s win in the last sealed a good start to the Festival for the bookies.”

On Betfair, in-running backers also suffered. Binocular, Sizing Europe, Sublimity, Patsy Hall, New Alco and Ashkazar all traded at odds on - only to be beaten. Here’s how the day unfolded on the betting front:

2.00 Anglo Irish Bank Supreme Novices’ Hurdle
The punters had the better of things in the opening race with Captain Cee Bee and Binocular both being among the leading fancies. The result would have been much worse for the bookmakers, though, had Binocular, ridden by Tony McCoy held on. Binocular travelled with such purpose that he traded at 1.18 on Betfair but his backers knew their fate halfway up the run-in as Captain Cee Bee, who traded at 40 after hitting a flat patch mid-race, hit top gear. A total of £2,406,096 was matched on Betfair, with £233,000 being matched on the winner.

2.35 Irish Independent Arkle Challenge Trophy
Bookmakers breathed a sigh of relief after Noland, heavily backed ante-post and on the day, fluffed his lines. The favourite gave his supporters plenty of hope as he cruised through the majority of the race (hit evens on Betfair) but could not pick up as Tidal Bay (touched 11 in running) pulled well clear. Doubts over the winner’s wellbeing and jumping - not to mention the trip possibly being too short - would have put off plenty. Kruguyrova was a popular each-way choice and kept on gallantly to reward her backers. A total of £4,315,011 was matched on the race.

3.15 Smurfit Kappa Champion Hurdle
Hot favourite Sizing Europe was the horse that most punters had pinned their colours to and, when he cried enough in the home straight, the layers were in party mood. And, with Osana, the well-backed second favourite, coming off second best in a driving finish, they had some icing to put on their cake. Katchit, the winner, would have been a popular each-way choice but did not attract the big bets that were riding on Sizing Europe and Osana . Fingers were also burnt by in-running players, with Sizing Europe (1.44 to win and 1.03 a place) and Sublimity (1.66 and 1.1 a place) both flattering to deceive. Katchit touched 23, but was backed at 300 in the ante-post market.

4.00 William Hill Trophy Handicap Chase
An Accordion, forecast favourite in the morning, proved easy to back as big money arrived for Patsy Hall (morning) and L’Ami (late). The well-backed horses both gave their supporters a decent run for their money, especially the former, who was trading at 1.51 going down to the last fence only to fade out of the picture. New Alco was backed at 1.37 as the race unfolded, with An Accordion hitting a high of 16. A total of £3,118,242 was matched on the race.

4.40 BGC Cross Country Chase
Another favourite, another batch of ripped up betting tickets. Wonderkid had the dubious pleasure of starting market leader this time but never got into contention. Garde Champetre (hit 10 in running) did not go unbacked but the placed horses were both largely ignored. The race attracted more than £3 million in matched bets.

5.20 Fred Winter Juvenile Novices’ Handicap Hurdle
Most punters plumped for Ashkazar (hit 1.5 in running) or River Liane (2.04) to get them out of trouble but neither were able to oblige. Grand Schlem (3.1) was also popular once the race began but it was Crack Away Jack (28) who landed the spoils. Bets of £4,665,215 were matched.