Betting bonanza hits record £650m

13 April 2012

Bookmakers were predicting on Thursday night that reigning champion Kauto Star will start the hot favourite for the Gold Cup, despite fears that steady rain would turn conditions in favour of his stablemate and big rival Denman.

Around £300million will be bet on a day when a sell-out 65,000 crowd will flood into Cheltenham.

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Fancy seeing you here: Kauto Star and Denman at their stables

With bookies estimating yesterday's Cheltenham bets totalled £250m and Tuesday's figure was put at £100m, the three days of the meeting will have attracted a staggering £650m betting bonanza.

The clash between stablemates Denman and Kauto Star on an extended nine-race card is expected to push turnover beyond the record £255m bet on Grand National day last year.

Betting exchange Betfair predict that trading on the Gold Cup, run on ground unraced on since last year's Festival, will breach £10m on a race for the first time on their exchange.

The going remains good to soft, good in places. Gold Cup sponsors totesport quote Kauto Star as evens favourite to retain his crownwhile Denman is a 13-8 shot.

Spokesman Damien Walker said: 'I think it will take a lot more rain than we have had to change the situation.'

Racing has been waiting for the clash between the two geldings, who live only feet apart at trainer Paul Nicholls' Somerset stable, since last year's Festival when Kauto Star won his first Gold Cup and Denman, who has never been beaten in eight races over fences, graduated from the novice ranks with victory in the Sun Alliance Chase.

Their clash is being billed as the biggest steeplechasing dual since the 1964 Gold Cup between Arkle and Mill House.

Between £30m-£40m will be bet on the Gold Cup alone. Walker added: 'In excess of £30m will be bet on the big race. Denman is a significant loser for us in our ante-post book and a victory for him would cost us a six-figure sum, but Kauto Star is actually a small winner. But those sums will be dwarfed by what happens on Friday.'

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