Best Each-Way Bets at Cheltenham Festival 2026

Cheltenham Festival 2026 runs from Tuesday 10 March to Friday 13 March. With 28 races across four days and fields packed with quality, this is the week when each-way betting comes into its own.

The place percentages are generous, the fields are deep and value lurks in every corner — especially in the big handicaps where 20+ runners guarantee 1/4 odds for the first four or five places with most firms.

We’ve picked out eight horses at 8/1 or bigger that offer genuine each-way value. These aren’t hopeless longshots — each has a realistic route to a place, with the win very much possible too.

Odds correct as of 9 March 2026. Always check current prices before betting.

Our Each-Way Picks at a Glance

*Some picks sit just below 8/1 but offer outstanding place value — explained below.

The Selections in Full

1. Mustang Du Breuil — Juvenile Handicap Hurdle (Tuesday, 14:40)

Odds: 14/1 | Each-Way Terms: 1/4 odds, places 1-4

This Nicky Henderson-trained juvenile is one of the most interesting value propositions of the whole Festival. He won a juvenile hurdle at Auteuil on debut last October (2m2f, heavy ground), then won again at Doncaster in February — improving notably on that debut effort. He then ran a cracking third in the Grade 2 Dovecote at Kempton against older horses, beaten less than four lengths.

That Grade 2 run against older opposition is a significant confidence booster. He’s already proven he handles big-field racing, he stays well and Henderson changing his mind about this target (initially ruling him out due to a lack of runs) suggests the team believe he’s Festival-ready. Twice the price of his JP McManus stablemate Manlaga, the market looks to have got this one slightly wrong.

Why he’s value: Strong progressive profile, top stable, Grade 2 form against older horses. 14/1 looks generous for a horse improving at every start.

2. Jonbon — Queen Mother Champion Chase (Wednesday, 15:05)

Odds: 10/1 | Each-Way Terms: 1/4 odds, places 1-3

Majborough dominates this market at 4/6 and will take beating, but at 10/1 Jonbon is a serious price for a horse of his quality. The Nicky Henderson chaser won the Champion Chase in 2024 and has been one of the best two-mile chasers in training. He’s not the force he once was and has Majborough to contend with, but he retains plenty of ability and if conditions suit or Majborough underperforms, he’s perfectly capable of placing or winning.

At 10/1 you’re getting near-double-digit odds on a former Champion Chase winner. In a three-place each-way race, he only needs to finish in the top three — which a horse of his profile can do in most seasons.

Why he’s value: A former winner at the course and trip. The market is dominated by Majborough but 10/1 is big for the second-best horse in the race.

3. Impose Toi — Stayers’ Hurdle (Thursday, 16:05)

Odds: 12/1 | Each-Way Terms: 1/4 odds, places 1-3

The Stayers’ Hurdle is one of the more open championship races this year. Teahupoo heads things at 2/1 but this is a genuinely competitive division with Honesty Policy, Kabral du Mathan and Bob Olinger all in the mix. At 12/1, Impose Toi represents solid each-way value in what could easily be a race where the favourite runs below expectations.

Impose Toi has shown smart form in staying hurdles this season and gets a generous price precisely because the market is condensed around the top four or five in the market. In a race where the favourite wins less than a third of the time historically, the 12/1 on a placed contender looks attractive.

Why he’s value: Open race, multiple credible threats to the favourite, and 12/1 is generous for a horse with genuine staying hurdle credentials.

4. Ballyburn — Stayers’ Hurdle (Thursday, 16:05)

Odds: 10/1 | Each-Way Terms: 1/4 odds, places 1-3

Ballyburn is a fascinating entry at 10/1. This Willie Mullins horse has bags of talent and if he reproduces his best form, he’s a live contender in the Stayers’ Hurdle. He’s been a shade inconsistent but the raw ability is undeniable. Mullins has a habit of producing horses at the right time at Cheltenham, and Ballyburn at double-figures is a price worth taking each-way.

Why he’s value: High-class horse from the sport’s dominant trainer. 10/1 gives excellent each-way returns if he hits top form.

5. Grey Dawning — Cheltenham Gold Cup (Friday, 15:30)

Odds: 14/1 | Each-Way Terms: 1/4 odds, places 1-4

The Gold Cup is always a great each-way betting race because the top four places pay out and the winner doesn’t run away with it as often as short-priced favourites suggest. Grey Dawning has been a consistent performer at the highest level and at 14/1 represents solid each-way interest.

Dan Skelton’s stable have been firing on all cylinders and Grey Dawning’s profile — a genuine Grade 1 performer who knows how to jump around Cheltenham — makes him an interesting alternative to the market principals at a much bigger price.

Why he’s value: Proven Cheltenham course form, top trainer in form, 14/1 in a four-place each-way race is excellent value for a horse capable of running into the money.

6. Spillane’s Tower — Cheltenham Gold Cup (Friday, 15:30)

Odds: 14/1 | Each-Way Terms: 1/4 odds, places 1-4

The Gold Cup field looks one of the more open in recent years. Fact To File heads things but there are serious questions about his Gold Cup vs Ryanair preference, and if he defects the race opens right up. Spillane’s Tower at 14/1 offers an interesting alternative in what could be a wide-open renewal.

Why he’s value: Open Gold Cup, generous odds, and a horse capable of producing a big run on the day. Four places paid makes 14/1 each-way very attractive.

7. Jonbon — Double Cheltenham Entry (Queen Mother / Ryanair)

Worth noting that if Jonbon ends up declared for the Ryanair Chase instead (currently 5/1), that’s an even more interesting each-way play. In a field where Fact To File is 1/2, the place spots (1/4 odds, top 3) are very much in reach for a horse of Jonbon’s ability.

8. Impose Toi (Stayers) + Mustang Du Breuil (Juvenile) — The Each-Way Double

If you’re feeling adventurous, combining Mustang Du Breuil (14/1) and Impose Toi (12/1) in an each-way double gives you enormous potential returns from a relatively small outlay. Both have genuine claims on their merits — the win double would pay over 200/1.

Each-Way Terms to Know at Cheltenham 2026

Some bookmakers offer non-runner no bet on ante-post selections — worth checking before placing. Several firms also run extra place promotions during the Festival week, paying 5 or even 6 places on selected races.

Each-Way Betting Strategy at Cheltenham

Target the big handicaps. Races like the Ultima Chase, Coral Cup, County Hurdle and Kim Muir regularly produce placed horses at 12/1, 16/1 or bigger. The fields are large, the each-way terms are generous and form can be hard to read — which is exactly where value hides.

Don’t shy away from Grade 1s. When a race has a dominant short-price favourite (like Majborough in the Champion Chase), the second and third horses often drift to juicy prices. You only need to identify the likely second-best — not beat the favourite.

Use Cheltenham course form. This track is unique. Horses who’ve shown they handle the undulations and the uphill finish have a significant edge over those coming here without that experience.

Summary: Our Top 3 Each-Way Bets

If you’re picking just three:

1. Mustang Du Breuil (14/1) — Progressive juvenile with the right profile for a Festival handicap
2. Grey Dawning (14/1) — Proven at the course, top stable, great each-way race
3. Jonbon (10/1) — Former Champion Chase winner at a big price in a two-horse race

Good luck at the 2026 Festival. Four days of brilliant racing — and plenty of each-way opportunities throughout.

Odds sourced from Unibet, Betway and Bet365 as of 9 March 2026. Odds subject to change. Please gamble responsibly — BeGambleAware.org