Cheltenham 2026 Placepot Guide

The Cheltenham Festival is one of the most eagerly anticipated events in racing and easily the most talked about four days in the National Hunt season.

Cheltenham fever takes a grip as the four days in March loom close and punters consider their betting options for the 'greatest show on turf'.

Here's our guide to betting in the placepot market at the Cheltenham Festival.

About the Cheltenham Placepot

The Placepot bet is one of the most popular raceday bets for punters and, for many racegoers, a staple of a day at the races.

Placepot bets can be done at the racecourse or online. This bet allows punters to have an interest in multiple races for small stakes and, when successful, can often result in a significant return on investment.

Payouts vary and, generally, dividends are higher on days when favourites don't do well as fewer winning lines occur.

At the 2019 Cheltenham Festival, one Placepot customer won £182,567 from a £2 bet!

How does the Cheltenham Placepot work?

To play in the Placepot, punters select at least one horse in each of the first six races that they believe will finish in the places.

Typically the places paid are first, second and third depending on how many runners are in the race.

If a race has four or fewer runners then your horse must win, while in handicap races with more than 16 runners the fourth horse home counts for the placepot.

Punters may choose to have more than one horse running for them in the same race as part of a placepot bet. This is called 'perm betting' and it increases the cost of the bet, depending on how many different permutations are involved.

Placepot bets are pooled together, with winnings paid out based on dividends calculated to a €1 stake each. The dividends are higher when fewer punters have the winning combinations.

How much does a Cheltenham Placepot cost?

Placepot bets are based on your chosen 'unit stake'. This can typically be anything from 10c and upwards.

You can select more than one horse in each race, but this will mean that your total stake will increase. To calculate your total stake, just multiply the number of selections in each of the six legs of the placepot.

For example:

Six races with one selection in each: 1x1x1x1x1x1 = 1 perm (line). So for a €1 unit stake, this bet will cost just €1.

Advancing the bet slightly:

Six races with the following selections: 2x2x1x2x1x3 = 24 perms. So for a €1 unit stake, this bet will cost €24.

Dividends and Payouts

Placepot betting is a pool and a rake is taken from the pool to invest into racing. This is 27% from every bet both at the races and online. The remaining 73% is paid in winning dividends.

For example:

· €100,000 is paid into a placepot at and there is a total of 1,000 winning tickets

· 100,000 x 73% = €73,000 (less the 27% rake on the pool to invest into racing)

· 73,000/1000 tickets = €73 each.

In this instance the dividend therefore pays €73 for every €1 placed on a winning placepot line.

Non-runners

If one of your placepot picks becomes a non-runner, your selection automatically reverts to the SP favourite in that race, ensuring you always have a runner in all six placepot races.