Oddsmakers experienced a significant setback on the opening day of the Cheltenham Festival, with Sky Bet allegedly dropping approximately £3 million ($3.9 million) on the initial Supreme Novices’ Hurdle. The contest was clinched by 6/1 longshot Klassical Dream, under the tutelage of renowned trainer Willie Mullins.
Sky Bet had been promoting a special offer throughout the festival, enabling patrons to place a no-risk wager of up to £20 on the first race each day. Should the customer’s selection lose, their stake of up to £20 was reimbursed in cash and available for withdrawal.
William Hill also felt the impact, reportedly losing around £2.2 million on the festival’s third day.
Paisley Park, a heavily backed contender and widely regarded as one of the most certain winners of the entire meeting, attracted substantial wagers on the day, including a single bet costing William Hill £500,000.
The seven-year-old’s triumph in the Stayers’ Hurdle was a primary factor in bettors coming out ahead on Thursday.
The performance of other major bookmakers on Thursday remains undisclosed, but with favorites securing victory in three out of the five races, it likely proved challenging for the industry overall.
Nevertheless, Al Boum Photo’s 12/1 upset in the Gold Cup, coupled with Annibale Fly’s second-place finish at 22/1 and Bristol De Mai securing third at 18/1, potentially enabled bookmakers to recover a portion of their losses.
