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Home Cheltenham Festival 2023

Cheltenham Festival 2023: Long-shot each-way tips & value punts

A 16/1 two 20/1s and a filly at 25/1 are in our festival e/w and value punts but just who has made our long-shot shortlist?

Neil Leverett by Neil Leverett
January 16, 2026
in Cheltenham Festival 2023
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Cheltenham long-shot tips and value punts guide 2023

How to approach Cheltenham each-way punts responsibly

Cheltenham is the perfect stage for each-way punts, but value hunting requires discipline and analysis rather than hope. Always plan stakes, check the terms, and never bet more than you can afford to lose.

Evaluating form and course suitability for outsiders

Look beyond headline results and focus on recent runs over similar trips and ground at left-handed tracks. Horses with festival experience or consistent finishing efforts often transfer that form well at Cheltenham.

Understanding handicap ratings and weight in chases

In handicaps the weight a horse carries can swing form lines, so compare current ratings against recent conditions. Small drops in weight or proven performance off similar burdens often point to value picks.

Jockey and trainer patterns to use at the Festival

Identify trainers who target specific races and jockeys with strong Cheltenham records when assessing outsiders. Stable form and planned rides can be decisive, especially in competitive fields where margins are fine.

Sizing up each-way value and bookmakers’ place terms

Each-way value depends on both price and place terms, so shop around for bookmakers offering extra places for big-field handicaps. A 16/1 e/w with standard 1/4 terms is not the same value as 16/1 with extended place coverage.

Using recent trial performances as confident pointers

Trials and prep races at similar venues provide insight into fitness and jumping; a strong finishing effort suggests a horse is primed for a step up. Avoid overvaluing one-day form when the trip or ground changes significantly.

Considering going, stamina and Cheltenham track tests

Cheltenham demands stamina and jumping accuracy; soft or heavy ground can nullify speed advantages and favour proven mud-lovers. For long-distance events, prioritise horses with form over similar trips and going.

Bankroll rules and staking plans for long-shot punts

Use small, consistent stakes for long-shot e/w bets and treat these as speculative additions to a flat staking plan. Keep long-shot exposure limited and review performance across the festival rather than chasing losses.


Having broken down Cheltenham week with our extensive festival build-up, we’ve already covered the favourites for glory this year, so now lets get down to the real fun:

This year’s long-shots. The e/w punts.

We all love a big-price flutter and there is no better time to do so than at Cheltenham.

Here at BestofBets we’ve had our thinking caps on all week and after a winter glued to National Hunt action and scouring the form, we have our shortlist.

Here are our Cheltenham 2023 value picks.

Tuesday, 14:50, Ultima Handicap Chase (Group 1, 5yo+, 3m1f)

To begin, we look to the Ultima Handicap Chase.

We were toying with Gordon Elliott’s The Goffer, however, in the end Our Power gets the nod.

Chiefly, but not exclusively, the decision was down to his impressive run in the Coral Trophy a fortnight ago.

On that occasion, we backed the Sam Thomas-trained 8yo and we do so again.

That was first outing of the season at Kempton, and Our Power showed no sign of rust in going toe-to-toe with an extremely game Flegmatik.

Embed from Getty Images

Now a seven-time winner but fifth in this race last year, improvements will be eyed.

The only bone of contention might be whether Charlie Deutsch or Sam Twiston-Davies are aboard.

Both have won one apiece for the Walters and Potter Group in the last two.

Regardless, the Ultima again looks an open affair and in the horse’s sixth Cheltenham and fourth festival appearance, this could just be his time.

Carrying a 16/1 price with BetUK and with a real finish in the tank, Our Power is potentially one of the stronger e/w punts.

Wednesday, 16:10, Glenfarclas Cross Country Chase (Group 2, 5yo+, 3m6f)

For our second pick, we are going all sentimental for one of our paddock favourites in Snow Leopardess.

Other than the Stayers’, the Cross Country Chase is the festival’s big endurance contest.

Having been on the fence about her before, after being narrowly pipped to victory in the Grand National Trial Chase, we are more than happy with the 11yo’s chances here.

Embed from Getty Images

The trip to Aintree may well be the priority after last year’s disappointment but Charlie Longsdon’s grey was very game in her previous festival outing.

Fourth in the National Hunt Novices’ in 2021, with the going soft, this old mare can get down in the trenches.

Her National Trial really felt like a eye-catcher and at 20/1 with BetVictor, Snow Leopardess has more than a shot.

Friday, 13:30, JCB Triumph Hurdle (Group 1, 4yo, 2m1f)

For our final two punts, we are skirting Thursday and hurdle straight to Friday, first to the day’s opener.

In a straight contest between the 4yos in the Triumph Hurdle, we are excited about a heftily-priced Zenta.

A horse we have had in our tracker since Fairyhouse last month, this filly is looking for a third win on the bounce, carrying the JP McManus colours.

Oh, and the other, rather appealing tag of Willie Mullins.

Whilst that does not guarantee success, the chances of it occurring at Cheltenham are that much greater.

Embed from Getty Images

Snapped up by Mullins last September, the Closutton native was quoted in the Racing Post saying that Zenta will ‘win lots of prizes’ if she keeps her jumping together.

With due caution, though this will be Zenta’s British debut but with a huge step-up in calibre, she is in perfect hands with Paul Townend as currently planned.

Many fancy one of Mullins’ other fillies in Lossiemouth for this trip, but we can see Zenta going well.

Comfortable over the trip and at 25/1 with BetVictor, she could impress on the big stage.

Friday, 15:30, Boodles Cheltenham Gold Cup (Group 1, 3yo+, 3m2½f)

Okay. So the consensus is Galopin Des Champs should be too strong for the big one.

However, that won’t stop us with the last of our punts, Sounds Russian.

An 8yo trained by Ruth Jefferson, the gelding also caught the eye on Trials weekend back in January.

Runner-up to Ahoy Senor in the Cotswold Chase at 8/1, the son of Sholokhov finished well despite a number of mistakes on the home straight in front of the stand.

Embed from Getty Images

Sounds Russian has come home second on the bounce with a runner-up at Wetherall on Boxing Day also.

If we look at his wider record, a worst place of fourth is not too shabby a career since debuting in May 2021.

A three-time winner at Kelso with a further victory at Sedgefield, he was fourth again in the Many Clouds at Aintree at the end of last year.

So, despite this being a massive step-up in class, with most bookies set to pay out 4-5 places, an e/w punt at the very least looks interesting.

More especially, set at 20/1 across the board, Sounds Russian could just surprise a few.

Responsible betting and next steps for punters at Cheltenham

Remember that betting is for those aged 18 and over and should be treated as entertainment rather than income. If you choose to bet, set limits, use self-exclusion tools if needed, and seek help from support services when gambling causes harm.

You can explore current bookmaker offers through our comparison tools if you choose to bet responsibly. Our comparisons list free bet offers and standard place terms to help you identify where each-way value exists.

Find our recommended sports bookmaker free bets here.

See current casino bonus offers and terms on our casino page.

Common questions about Cheltenham value punts

Q: What is each-way value at Cheltenham?

A: Each-way value combines a decent price with favourable place terms; look for big fields and bookies offering extra places to increase e/w appeal.

Q: How should I size stakes on long-shot punts?

A: Use small, consistent stakes within a staking plan and treat long-shot e/w bets as speculative entertainment rather than investment.

Q: Are festivals good for backing outsiders?

A: Festivals can produce shocks, but outsiders succeed when they have suitable form, fitness, trainer targets and compatible ground conditions.

Q: Do trainer and jockey changes matter for value picks?

A: Yes; planned rides and stable form at the Festival can materially affect a horse’s chance and the perceived value at the odds.

Q: What should I check before placing an e/w bet?

A: Confirm each-way terms, check the going, review recent runs and jumping, and compare prices across bookmakers for the best payout potential.

Q: Where can I find help if betting becomes a problem?

A: If gambling causes harm, contact UK support services such as GamCare or use bookmaker safer-gambling tools; remember betting is 18+ only.

Q: Are betting offers guaranteed to improve value?

A: No; offers vary by bookmaker and time, so read terms and avoid assuming offers remove risk or guarantee returns.

Q: Should I follow tipsters blindly during the festival?

A: No; use tips as one input among many and make decisions based on your own research and responsible staking rules.

Tags: betting tipsCheltenhamoddsoutsidersracing tips
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