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The Cheltenham Festival is the most competitive week in horse racing. With 20+ runners charging toward the finish line in races like the Coral Cup or County Hurdle, picking the winner is tough. That is where Extra Places come in.
In this guide, we’ll explain how you can turn a 5th, 6th, or even 7th place finish into a winning payout and which bookmakers offer the best value for the 2026 Festival.
| Race Type | Std Places | Odds | Extra Target |
|---|---|---|---|
| Non-Handicap (8+) | 3 Places | 1/5 | 4 Places |
| Handicap (12–15) | 3 Places | 1/4 | 4-5 Places |
| Handicap (16+) | 4 Places | 1/4 | 5-7 Places |
Normally, bookmakers follow “Industry Standard” terms. If you bet Each-Way on a horse in a large handicap, you only get paid if they finish in the top 4.
During Cheltenham, bookies compete for your business by offering Extra Places. If a bookie offers “6 Places” on the Ultima Handicap Chase, and your horse finishes 6th, you still get paid the “Place” part of your bet.
An Each-Way bet is actually two separate bets:
Example: £10 Each-Way (£20 total) on a 20/1 Horse where the each way bet is stated as 1/4 odds.
Based on historical trends and 2026 pre-festival offers, look out for these firms:
The best value is found in the Premier Handicaps where fields are largest:
If you bet on a race with “6 Places” and enough horses drop out (Non-Runners) to take the field below a certain limit, the bookmaker may reduce the places back to 4 or 5. Always check your bet slip for the “Minimum Runners” requirement. Some bookies run No Runner No Bet (NRNB) offers which — this, check out our No Runner No Bet guide for a full explanation.
