It's no secret that the Cheltenham Festival is one of the most anticipated events on the British sporting calendar, one which attracts thousands of attendees year after year. From the electrifying atmosphere to the adrenaline-pumping races, the event has become a favourite among both sports fans and bettors alike, and it's clear to see why.

The four-day extravaganza takes place every March, this year on March 12th-15th. You can expect to see the best of national hunt racing featuring the top horses, trainers, and jockeys from across the world, all fighting it out for their slice of the eye-watering amounts of prize money.

There is also a lot of cash changing hands in the betting markets, with bookmakers always on the lookout for new ways to attract fans. But, how much money exactly does the Cheltenham Festival make?

How Much Money Does the Cheltenham Festival Make?

According to reports, the 2019 Cheltenham Festival generated a massive £93 million. This astronomical figure is comprised of ticket sales, sponsorship deals, broadcasting rights, and most importantly, betting revenues. Yes, you read that right. The bulk of the festival's profits come from the billions of pounds that are wagered on the races each year. In fact, it's estimated that five years ago the festival generated a staggering £600 million in turnover.

But where does all this betting revenue go? Well, a significant portion of it goes to the bookmakers themselves. Cheltenham is the biggest betting event in the UK - even surpassing the Premier League and the UEFA Champions League - and bookmakers use this opportunity to offer various promotions and bonuses to attract bettors. For instance, they may offer a welcome bonus to new customers, money-back guarantees if the bettor loses, or enhanced odds promotions on specific horses, enticing fans to bet more and enhancing the overall betting experience.

Fortunately, fans can use this to their advantage. Websites such as www.Oddschecker.com compare all the bookmakers' odds and offers, presenting them to their users in a concise and clear manner. This way, punters can choose which offer works best for them. For example, if a fan is confident that a certain horse will win a race, they can search for bookmakers offering enhanced odds promotions on that horse and place their bets accordingly.

Prize Pot

When it comes to horse racing events, the prize money is a crucial factor in attracting the best of the best, and Cheltenham - despite its prestige - is no different. In 2021, the total on offer was £4,590,000 across the four days, with 28 races taking place. This was a record-breaking amount at the time, with each race offering no less than £62,000 to the winning horse's owner. That figure has increased in the years since, with 2023's offering reaching almost £4.8m.

In 2023, the headline race, the Cheltenham Gold Cup, had a staggering £625,000 up for grabs, with over half of that going to the race's winner. Last year, Paul Townend rode Galopin Des Champs to glory and secured £350,000 for owner Mrs Audrey Turley. That figure is expected to increase even further this Spring.

Attendance Figures

Cheltenham is not just about the horse races and the betting that comes with it. It's also a huge social event, with over 250,000 people attending over the four days and 71,500 attending the Gold Cup Day. The atmosphere is electric, with fans from all walks of life coming together to enjoy the spectacle.

Food and drink are consumed in abundance, with plenty of hospitality options available for those wanting to experience the event in style. But, all this comes at a cost. Hospitality Prices for hospitality packages can run into the thousands of pounds, with fans willing to pay whatever it takes to ensure they have the best time possible.

Sponsorship Deals

Another significant source of income comes from sponsorship deals. Companies are always looking for ways to gain exposure, and horse racing events such as Cheltenham offer a unique opportunity to reach a captive audience. The Jockey Club, which owns the Cheltenham Racecourse, has secured several high-profile sponsorship deals in recent years.

The 2021 event was sponsored by Betway, a leading online bookmaker. Other past sponsors have included Neptune Investment Management and Unibet. These deals bring in significant sums of money, ensuring the Cheltenham Festival continues to thrive year after year.

But that's not all. Fans can also indirectly profit from the Cheltenham Festival's popularity. Since the event receives widespread media coverage, businesses, and brands use this platform to advertise their products and services. For instance, luxury car companies may sponsor specific races or fashion brands may launch new collections explicitly designed for this event. This creates job opportunities and drives economic growth, benefiting the local community and the UK economy as a whole.

Television Rights

As expected from one of the planet's grandest sporting spectacles, the action is a huge draw for television companies. The Cheltenham Festival is broadcast around the world, ensuring that millions of people can tune in to watch the races. In the UK, the event is broadcast by ITV, with more than 15 million people tuning in to watch the coverage in 2020. Other countries such as the US, Australia, and Ireland also broadcast the clash, ensuring it has a global reach. The TV rights generate significant sums of money, with the British broadcaster alone forking out a mighty £20 million per year.

Charity

Finally, the Cheltenham Festival is not only a financial goldmine, but also stands out for its charitable contributions. Each year, the event partners with various organizations to support and raise funds for charities across the UK. For instance, in 2020, the festival pledged to raise £1 million for the Royal British Legion, which supports serving members of the Armed Forces, veterans and their families. These charitable contributions are a testament to the event's commitment to making a positive impact on society.

Conclusion

In conclusion, the Cheltenham Festival is not only a thrilling sporting event, but also a vital contributor to the UK economy and charitable causes. Its staggering betting revenues and innovative promotions continue to attract fans and bookmakers alike, making it one of the biggest betting events in the world. Additionally, its partnership with different organizations and charities highlights the event's dedication to giving back to society.

Therefore, it's no surprise that each year thousands of people flock to Cheltenham to witness the races, soak in the atmosphere, and potentially profit from the bookmakers' bonuses. So, whether you're a racing enthusiast or a casual bettor, the Cheltenham Festival has something for everyone.