Irish punters jetting to the Cheltenham Festival will pump €100million into the local economy in just four days
IRISH people jetting to the Cheltenham Festival will pump €100 million into the local economy as race-mad punters get set to take part in a €1.5 billion betting frenzy.
Up to 30,000 racing fans from this country are expected to board planes and ferries to travel to the Cotswolds in England from tomorrow for the annual extravaganza.
A new report has found that the Festival is worth €300million to the town and the surrounding area — with one third of that money coming from Irish pockets.
The value of the Cheltenham Festival to the area has nearly tripled, from €120 million, over the past seven years, newly released figures have revealed.
The report by the University of Gloucestershire doesn’t identify racegoers by nationality but it found that 33 per cent of attendees arrive in Cheltenham at least a day before the festival and leave at least a day after the racing.
These visitors, mostly from Ireland, will be among the 274,000 punters who will attend this year’s four days of racing.
Last year racegoers forked out approximately €800 each over the four days — up from €650 in 2016.
Of those making their first trip to Cheltenham, 67 per cent said it was because it was on their “bucket list of things to do”, while around half of the total surveyed said they “always or usually attend” the festival.
'TREMENDOUSLY BENEFICIAL'
Despite the huge financial boost it delivers to the local area, festival organisers have reduced the capacity for this year’s event to 68,500 per day, following complaints about congestion and overcrowding last year.
The financial figures were compiled from an online questionnaire distributed to attendees by Cheltenham Racecourse, asking about their expenditure during the event.
Ian Renton, The Jockey Club’s Regional Managing Director for West England, said the figures demonstrated the “tremendously beneficial effect on the wider economy in the Cheltenham area”.
Industry experts predict that between a staggering €1.2 billion and €1.5 billion will be wagered by punters in the course of this week.
Last year’s betting volume hit over €1 billion across the four days, with half of that thought to be handled online through desktop and horse racing apps.
HUGE WAGERS
Nearly €4.5 million was wagered at the tracksideside alone on the Gold Cup, the week’s main event, in which Ireland’s Rachel Blackmore rode the 3/1 favourite A Plus Tard to victory.
The pair are second favourite to repeat that success this year behind the Willie Mullins-trained novice Galopin des Champs.
Overall, 2022 saw a 53 per cent increase in betting activity, with punters laying average bets of €10.
Nicola McGeady, from Ladbrokes, said every year the Cheltenham Festival gets bigger and better.
She added: “This could be the biggest yet as the Irish invade Prestbury Park. The festival is a four day betting bonanza, the biggest betting week of the year in fact, with the Gold Cup being the pinnacle event.
“In fact with the Gold Cup falling on St Patrick’s Day, it will be the busiest day of the year for the bookies, with an Irish favourite leading the charge.
"This year’s festival is going to make for a real battle between the bookies and the punters. There aren’t as many short-priced favourites and day one could swing either way as it looks incredibly open.”
LEADING TRAINER
All eyes will be on Ireland’s Willie Mullins, who is just 1/8 to once again win the leading trainer title.
Champion jockey Paul Townend, who won the Gold Cup two years running in 2019 and 2020 on Al Boum Photo, rides Galopin des Champs.
He said: “I think the Gold Cup is the biggest race of the year. It’s just got that spice about it and its shaping up to be a brilliant race.
“Galopin des Champs is the novice coming through and we have some unfinished business from last year (when he finished sixth on Al Boum Photo).
“I think I have the best horse in the race and I can’t look beyond him.”
It’s not just the punters and the bookies who go to war, with the UK and Ireland battling it out for the Prestbury Cup.
Last year it was a landslide win for Ireland, with the winning margin being 18-10, and this year an even bigger victory is a possibility.
Ireland are the shortest price they’ve ever been since the Prestbury Cup began at 1/25.
Away from the betting ring, Ladbrokes has slashed the odds on the amount of Guinness consumed by thirsty racegoers — it is now 1/4 from 4/6 that over 265,000 pints of Guinness will be knocked back over the four days.
AIRPORT INFLUX
Shannon Airport is expecting a boost to its passenger traffic over the coming days with 30,000 people expected to travel through the airport, a 24 per cent increase on last year — due to Friday being St Patrick’s Day.
CEO of the Shannon Airport Group, Mary Considine, said: “Our passenger forecast over the St Patrick’s period is a positive start to what is hoped to be a strong and busy summer season. We are seeing strong recovery due to pent-up demand for travel.
“The St Patrick’s Day holiday period signifies the start of the summer season at the airport, as people arrive and depart for what is often their first trip of the year.
"The bank holiday also coincides with the annual Cheltenham racing festival, so we are prepared for a busy week.”
Ryanair, sponsor of the Chase and the Mares’ Novice Hurdle at Cheltenham announced before Christmas that an extra 8,000 seats were being provided on its planes for Irish festival-goers from tomorrow to next Saturday.
Director of Marketing at the budget airline, Dara Brady, said: “The luck of the Irish was strong at Cheltenham Festival last year, and with 8,000 extra seats for Irish racegoers — the Irish support will be even stronger for the 2023 festival.
“We have flights departing from Dublin, Cork and Shannon from Monday throughout the week.”
The Irish Sun is the only place to be for all of next week’s Cheltenham coverage — with readers able to avail of a €5 matched bet from Ladbrokes every day during the festival.
