The Cheltenham Festival is the busiest week of the year for bookmakers, with Bet Raider Review an estimated 800 million gambled on the races that make up the festival. Because of this, all bookmakers are competing for the business of horse racing fans, and offer substantial free bets. For the 2011 Cheltenham Festival there will be over 1000 in free bet offers available, which is a substantial amount of free cash to any punter.
Using free bets not only minimises losses, but it also allows punters to speculate on longer-odds horses that they wouldn't usually like to risk their own money on. With over 26 different online betting sites offering free bets, it is possible for those betting on the Cheltenham Festival to enjoy one free bet on each race if they were to open an account with each individual betting site.
Free bets work by the customer placing a bet risking their own funds, and then the online betting site matching this bet with the same stake on an alternative selection of the customer's choice. The shrewder punters out there often back a low odds 'banker' selection with their own funds, and then use the free bet stake on a riskier, longer-odds, more rewarding selection.Cheltenham has a reputation for serving up some long odds winners, whether it is in grade races and/or handicap contests. The latter often sees long-shot outsiders upsetting the odds while the graded events generally go to those at the head of the market.However, in the unpredictable nature of the Cheltenham festival is all too familiar with long-shots defying the odds to overcome the favourites. But is there a succinct difference in the starting price odds of graded race winners and Handicap victors?