Bookies out to clean up

Cheltenham set to be third time lucky for firms

BOOKIES are hoping for a reversal of fortunes at this year’s Cheltenham Festival after punters galloped off with more than €114million at the last two events.

Turf accountants suffered huge losses at the 2015 and 2016 festivals after a string of heavily-backed favourites cantered home to victory.

Last year’s festival prompted a profits warning from William Hill, who described it as “the worst Cheltenham Festival in recent history”.

But confidence is returning to the firms with a number of high-profile absentees from this year’s races. Thistlecrack, the strong contender for the Gold Cup, is injured.

The British thoroughbred was beaten at the Gloucestershire course in January by Many Clouds, who sadly collapsed and died at the end of the race.

Other big names off the running order include Coneygree and Don Cossack, the last two Gold Cup winners, and Faugheen and Annie Power, previous Champion Hurdle winners.

William Hill chief Phillip Bowcock said: “The fields are more

LOSS Breon Corcoran open and competitive and in theory that should favour the bookies.” Paddy Power boss Breon Corcoran bemoaned previous losses and added: “We took a €22.7million bath last year.” But one insider told the Financial Times the lack of favourites may put fans off. He said: “The festival is missing some stars –it’s the equivalent of the last Olympics not having Usain Bolt and Mo Farah running.” Despite recent losses, bookies are set to make €228million during the four days. news@irishmirror.ie