With the upcoming Cheltenham Festival, there will certainly be a lot of punters sitting happily knowing that their long-term bets, some of which will have placed as far back as last spring, are starting to mature as the fields for each of the races get whittled down.
The art of ante-post betting is as British as fish and chips. In America, they call it futures betting, referring to someone who, for example, placed a bet on Super Bowl 2026 back in September before the season began. The bet could lose early, for sure, as teams are eliminated, but it is a bit more straightforward than the minefield of ante-post betting, especially when it comes to horse racing.
What is ante-post betting?
The simple explanation is that ante-post betting is a long-term bet placed on a future event (hence the Americanism, futures). With horse racing, that might mean you pick a bet for the Cheltenham Champion Hurdle all the way back in the summer.
Why do it?
The simple answer is that you are betting on potential. In fact, it is essentially two bets. The first is that your selection actually wins on race day, but the second is that the price you take in the long-term is better than the one offered on race day. That’s why we talk about art.
That still doesn’t sound like a minefield?
It doesn’t, but there are numerous variables to consider. For instance, there is a chance your selection gets injured or drops in form. Indeed, even if the horse lines up for the race and is fit and well, you could theoretically be holding a docket for 10/1 when the horse is priced at 33/1.
What if my horse doesn’t run?
Ah. This is the key consideration, as the only thing worse than not getting the best price is that your horse is 500 miles away, sitting in a stable while the race goes on. Now, in a lot of circumstances, when the horse doesn’t run, you don’t receive your bet back. This is different to, say, placing a bet on the day of the race when it is suddenly scratched.
That doesn’t sound very fair?
Well, that’s an argument for another day. However, it is part of the art of ante-post betting that we spoke of, as you are potentially getting inflated prices for your selection. The point, as mentioned, is that you are betting on potential, so you want to be using some sort of insight – a tip from a trainer, perhaps – that helps you find a big price for a horse that the wider betting community aren’t aware of yet.
What about NRNB?
This is also important, especially in the lead-up to Cheltenham. Bets placed in the few weeks before Cheltenham will technically still be ante-post bets, but plenty of bookies will start offering NRNB (non-runner no bet) early. This means you will, indeed, get your stake returned if your horse doesn’t run. Bookies are getting more competitive about this, releasing the promo earlier and earlier, especially for championship races like the Gold Cup, so have a look around before you lump on.
Finally, give me an example of a good ante-post bet?
Remember when Put the Kettle On won the Queen Mother Champion Chase in 2021? Well, Henry de Bromhead’s brilliant mare went off at 17/2 on the day but was available as high as 66/1 in January before the race. Plenty of savvy punters lumped on in the weeks before the Festival, getting a huge price on race day in a Champion Chase that had lost some of its star names.