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Cheltenham and horse racing events often feature various bets you can place. It's up to you how many markets and which ones you back. Here, we will focus on the most common and popular types of bets that can be placed at the Cheltenham Festival. You can find out more about these below.

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Of all horse racing bets, singles are the most common options for bettors. That's because a single bet is the most simple to understand. Effectively, you're betting on the horse you think will win a specific race. You enter a stake to back that horse, and that's it. Every race offers this type of bet, and each horse is given odds for you to see to make the correct choice.

This type of wager differs from a double or treble. A double serves as a single bet on two selections in different events. Both of those selections must be successful for you to receive a return. A treble is the same, except you choose three runners to win in different events. There is, of course, more risk associated with doubles and trebles when compared to single bets.

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An accumulator (acca) bet is something that those with a bit more gambling experience may go for. You must select multiple horses running in different events and combine them under one overall wager. Every selection you make within that collection must win its respective race. Otherwise, the accumulator won't pay out at all. Thus, there is a lot more risk that comes with such wagers, especially considering that they can often go to five, six, seven and beyond selections.

Multiple bets often have the potential for high returns and are much more familiar to those gamblers with experience. Different kinds of multiple bets are possible, but they are all variations coming from the same general idea. Bettors make several selections at the same time within a single event. So, rather than selecting horses from separate races, like in an acca, you choose several horses from one race and combine them into one. For example, you can select specific horses to come in first, second and third in a race.

Spread Bets

Spread bets provide an altogether different way of wagering on horse races. You bet against the spread rather than on fixed odds. These exist in various forms, starting with Lucky 31. This allows you to choose five events and make 31 bets (five singles, ten doubles, ten trebles, five four-folds and one five-fold acca). There is also the Super Yankee option. This situation is similar, but you make 26 bets on combinations from five events. These are from doubles upwards.

The Heinz spread bet includes 57 bets (57 from the Heinz sauce bottles) across six selections. This multiple comprises 15 doubles, 20 trebles, 15 four-fold accas, six five-fold accas, and one six-fold acca. Lucky 63 follows a similar pattern, but you place 63 bets on six selections. Spread betting is not something that newcomers often tend to get involved in, as there is more to learn and understand.

Other options for spread betting on horse races include the Round Robin and the Union Jack bets—the first of these features anywhere between three and ten different bet combinations. The latter includes between 8 and 80 combinations.

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It is also the case that some online sportsbooks may also provide free bets for the Cheltenham Festival event. This type of promotion gives you even more opportunities to back your favourites without using your funds. Winnings from free bet use are also withdrawable once all terms and conditions are complete. The question is, who is giving free bets for Cheltenham this year?

You can find free Cheltenham bets with the following online bookmakers: Bet UK, Bet365, William Hill, Betfred, Betfair, Mr Play Sport, 888 Sport, and Midnite. Check these sportsbooks out to find one that caters to your preferences and online betting needs.

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So, how do you place a bet with the latest odds at your favoured bookmaker? You can follow the instructions below, giving you a step-by-step guide towards betting on Cheltenham Festival.

1. Check the race schedule and the race card for Cheltenham first. Doing so will allow you to see what races occur at what times.
2. Choose a particular sportsbook to join. Browse through the top-rated options and favour those sites with tighter margins. Be sure to consider bookies with live updates on the races themselves and ante-post betting markets to get involved in.
3. Register for an account at the sportsbook. This should only take a couple of minutes to complete at maximum.
4. Check the odds for the race or races you intend to bet on. Make sure you compare these prices with those found at other online sportsbooks.
5. Deposit into your account by using one of the supported payment methods. Card payments, e-wallets, bank transfers and prepaid cards are often available to use for this.
6. Place your bet(s) and keep your fingers crossed that your choice(s) come in as winners and provide you with a nice payout!

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You can always turn to a tipster if you don't want to rely solely on your knowledge and insights. They exist as people with vast experience in sports betting and horse racing. As a result, they can provide useful insight into the horses and jockeys partaking in the races. The hints and tips they provide focus on the performance and condition of each runner and rider. Thus, you can easily navigate the Cheltenham betting scene, using the information in these tips to strengthen your research.

Tipsters can be found on social media outlets like Twitter, Telegram and Instagram. Alternatively, it is often the case that they have their websites informing you of everything you need to know about upcoming races. How do you choose the best of these tipsters? Always make sure you pick one that does not guarantee success for customers. Like any other sport, horse racing largely depends upon the performance of the runners on the day of the event. Therefore, guarantees aren't something anyone can provide regarding betting.

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• The festival was established in 1860 as the "National Hunt Meeting".
• Originally, the festival was held over three days, but since 2005 it became four.
• The record prize money for The Festival 2019 was over £4,590,000.
• According to Peterball.co.uk, over 134,600 people use the Cheltenham train station over the four days of racing, with more than 80,000 movements between Cheltenham Racecourse and the town with the bus shuttle service.
• There are 12,320 yards of running rails surrounding the track.
• The most wins by a jockey in one year at The Festival is 7 by Ruby Walsh in 2016, according to Thejockeyclub.co.uk.
• 6 most consecutive victories by a horse in any Cheltenham Festival race.
• Katie Walsh was the first female jockey to win a Grade 1 race during The Festival in 2018.
• During the festival are served more than 45,000 bread rolls, 5 tons of cheese and 8,000 gallons of tea.

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Want to know more about betting on the Cheltenham Festival? Please read through the few FAQs below to gather extra information on them.