Thrills and surprises were in abundance at the Cheltenham Festival, reviving the sense of unpredictability that makes the event so captivating. However, despite the excitement on the track, attendance numbers continued their downward trend, presenting a challenge that the new chief executive will need to address.
Bookmakers certainly had a profitable week, with their reports suggesting strong earnings despite some mixed results for punters. Seven odds-on favourites lined up across the festival, matching the record set in 2005 when the event expanded to four days. Only two managed to justify their short prices Kopek Des Bordes in the Supreme Novice Hurdle and Lossiemouth in the Mares’ Hurdle, both at 4-6.
For backers of other heavily favoured runners, it was a painful week. Constitution Hill’s unexpected fall at 1-2 in the Champion Hurdle and Galopin Des Champs’s underwhelming performance in the Gold Cup as an 8-13 favourite were particularly harsh blows. Jonbon, another strong contender, failed to deliver in the Champion Chase. The festival’s unpredictability was encapsulated by the 100-1 outsider Poniros, who stunned the crowd with victory in the Triumph Hurdle, leaving many punters feeling like they had been outplayed by the racing gods.
Despite these surprises, there were highlights for those who backed the right horses. Across 28 races, favourites actually delivered a slight level-stakes profit, driven by strong performances in handicaps, where the strike rate for favourites reached 38% far exceeding the long-term average of 15%. Myretown’s front-running triumph in the Ultima Handicap Chase, shortening from 12-1 to 13-2, was a particularly memorable moment for those who had faith in him.
The festival thrives on unpredictability. Unlike a scripted performance, racing unfolds in real-time, delivering thrilling twists and turns that keep spectators engaged. By this measure, fans who attended were treated to a spectacular display of racing drama.
However, one major concern remains declining attendance. This year’s total attendance was 218,839, a 4.9% drop from last year’s 229,999. Compared to the record-breaking post-pandemic figures of 2022, attendance has fallen by 22%. The impact has been felt most on the first three days, where the numbers have plummeted from 206,752 in 2022 to just 151,013 this year a reduction of over a quarter.
While the Gold Cup crowd has remained near its cap of 68,500, the decline in numbers earlier in the week raises questions about how to reinvigorate interest. The challenge is to bring back spectators from Tuesday to Thursday while ensuring that larger crowds do not compromise the quality of the experience.
The new leadership at the festival acknowledged the attendance issue in advance, helping to manage expectations. Changes such as expanding areas where racegoers could take drinks appeared to be well received, and a lower crowd density likely made navigation and access easier for those who did attend. Feedback from this year’s festival will now be carefully examined to shape strategies aimed at boosting future attendance.
The ultimate goal is to offer unforgettable days out for racegoers while maintaining the balance between high energy and a comfortable environment. It will take time to gauge whether the new approach will succeed in reversing the attendance decline. Over the next year, all eyes will be on efforts to re-engage fans and restore the festival’s status as one of the must-attend events on the racing calendar.
