Bookmakers across the industry are steeling themselves for a potentially devastating financial blow as the prestigious Cheltenham Festival gets underway. The formidable combination of record-breaking trainer Willie Mullins and billionaire racehorse owner JP McManus poses a significant threat to betting firms' profits over the four-day event.
Dominant Forces in National Hunt Racing
Willie Mullins stands as the all-time leading trainer at the Cheltenham Festival, having amassed an incredible 113 winners throughout his career. His dominance has been particularly pronounced in recent years, with Mullins achieving a record ten wins on two separate occasions within the last four seasons alone. This remarkable consistency makes his stable a perennial danger to bookmakers' margins.
Meanwhile, JP McManus has established himself as a champion owner whose distinctive green and gold silks have been carried to victory 84 times at Cheltenham. McManus has been the leading owner in five of the last seven years, including a six-winner haul in 2025 that demonstrated his continued potency at the highest level of National Hunt racing.
Opening Day Treble Threat
The betting industry's anxiety begins with the very first race of the festival, where Mullins' leading fancy Mighty Park—who happens to be owned by McManus—shares favouritism for the opening Supreme Novices' Hurdle. Should this horse triumph, bookmakers fear it could trigger a cascade of losses through popular treble bets that also include other Mullins-trained day one favourites.
These include Kopek Des Bordes, the 6-4 market leader for the Arkle Chase, and Lossiemouth, currently joint favourite for the Champion Hurdle. The potential treble combining these three horses pays approximately 30-1, representing a substantial liability for bookmakers if successful.
"Here we go again!" exclaimed Coral's David Stevens. "That man Mullins has three strongly fancied runners on the opening day of the biggest betting week of the year. We know from previous Festivals that plenty of punters enjoy putting a few of the Closutton maestro's fancied ones together. If the three do all win, at least we'll have three more days to win our money back!"McManus's Formidable Festival Arsenal
Beyond the opening day, Boyle Sports has reported strong support for multiple McManus-owned contenders throughout the festival week. Majborough, Fact To File, and Dinoblue have all been heavily backed as favourites in their respective races, both as single bets and as components of various accumulator wagers.
Additional liabilities are accumulating on Mighty Park in the Supreme, along with the owner's other hopefuls Jeriko du Reponet and Saratoga in the handicap events. This widespread support for McManus horses across multiple races creates a perfect storm of potential payouts that could severely impact bookmakers' bottom lines.
Lawrence Lyons, spokesperson for Boyle Sports, acknowledged the threat: "JP McManus is sending a formidable army to Cheltenham and we're seeing plenty of his horses appearing in dangerous multiples over the week. Mighty Park could put us on the ropes from the off, but the prospect of a bigger Cheltenham coup for the green and gold could saddle the industry with a hefty payout."
The convergence of Mullins' training expertise with McManus' ownership resources creates a uniquely challenging scenario for bookmakers. With both men enjoying unprecedented success in recent Cheltenham Festivals, the betting industry faces the very real possibility of substantial losses if their collective strength translates into multiple victories across the four-day meeting.
