How to Set a Budget for Cheltenham Festival 2026

Cheltenham Festival is four days of elite jump racing, roaring crowds and some of the most anticipated horse racing moments of the year. It's also four days where a little planning goes a long way.

Setting a budget keeps you in control. It means you can enjoy the week without the regret that can come with chasing losses or overspending.

Here's our guide on how to approach Cheltenham betting smartly.

Start with what you can afford to lose

This isn't about being pessimistic – it's about being realistic. Your Cheltenham budget should be money you're comfortable setting aside for the occasion, not funds you're relying on for anything else.

If you're not sure where to start, our general budget setting guide breaks down how to assess your finances and decide on a sensible betting budget across the year. You can use that as your foundation, then build out a portion specifically for Cheltenham.

Decide on a daily or total budget

Cheltenham runs across four days: Champion Day, Ladies Day, St Patrick's Thursday and Gold Cup Day. You've got two main options for structuring your budget:

Total festival budget

Set one lump sum for the entire week and manage it across all four days. This gives you flexibility to move money around if one day heats up or if you want to focus on a particular event.

Daily budget

Split your total into four equal parts. This keeps you disciplined and ensures you're still in the game come Friday, even if things don’t quite work out on Tuesday.

Both approaches work. The daily approach suits those who prefer a clear structure and firm limits each day. The total budget approach works if you want the flexibility to move money around and back your judgement when you spot value.

Factor in the types of bets you’ll place

Cheltenham brings out the accumulators, the four-fold Lucky 15s and the each-way wagers on outsiders. High-odds bets may look appealing, but they can eat through a budget fast. Consider your play style:

• Singles and doubles are lower risk and with a steady approach, your budget stretches further.

• Accumulators and multiples come with higher variance. You might land a big win, but it's likely you’ll need a bigger budget to sustain multiple attempts.

• Each-way betting doubles the cost per bet while offering more chances of a return, especially in competitive handicaps.

Know what your preference is, and budget accordingly.

Don't forget about non-betting costs

If you're actually heading to the course, factor in travel, food and everything else that comes with a day at the races. Keep that separate from your betting budget. If you've set aside a certain amount for your bets, that's for bets only. Don't dip into it to cover other expenses on the day.

Create a win/loss limit

A budget reminds you of what you’re willing to risk. A win/loss limit tells you when to walk away. With a loss limit, you decide in advance how much you're prepared to lose in a day or across the festival. Once you hit that number, stop. No chasing. There will be other races. A win limit may be less common, but it’s still worth considering. If you're up a certain amount, consider putting some of the profit aside.

You don't have to stop entirely, but locking in a win early can help keep things positive even if the rest of the races don't go your way.

Discipline here is everything. The buzz of a winner makes it easy to convince yourself the next one will land too. Stick to your limits.

Track your bets as you go

With seven races each day, it can be easy to lose track during Cheltenham.

So that you always know where you stand, keep a simple record of your bets. That could be in a notetaking app, a spreadsheet or by viewing the transaction history section in your Bally Bet account.

Tracking your bets helps keep you honest and makes it possible to adjust if your budget is depleting faster than expected.

Avoid tilt and emotional betting

Bad beats happen. Favourites don’t always deliver. Photo finishes go the wrong way.

The worst thing you can do when this happens is react emotionally and lump money on the next race to "get it back". That's tilt, and it's a budget killer.

If you're frustrated, step away, take a breather and perhaps watch a race without a bet on. Once you've had a chance to reset, decide with a clear head whether you want to continue and, if so, on what terms.

Make it enjoyable, not stressful

Cheltenham's meant to be one of the highlights of the racing calendar.

If you're worrying about every wager or anxiously checking your balance between races, your budget's wrong.

Set an amount that allows you to get involved without the stress. You want to feel the thrill of picking a winner, not the worry of a loss you can't afford.

Cheltenham features four days of world-class racing. Set your budget, stick to it and enjoy the ride.

For more helpful articles like this one, take a look at the Bally Bet Sports & Casino blog. We've got a variety of how-to guides and overviews for both casino and sports.

All offers mentioned correct at the time of writing but may be subject to change.