How is the Champion Chase picture looking after the Christmas action?

The Queen Mother Champion Chase will be the feature race on day two of the 2026 Cheltenham Festival and, despite defeat on his comeback over Christmas, it is Marine Nationale that still heads the betting for the two-mile Championship event.

The only three runners at single-figure odds are trained in Ireland, as the raiding party bids to extend their winning sequence in the Champion Chase to six.

Here's our look at the state of play in the race to be Champion Chaser.

Marine Nationale the one to beat

Marine Nationale was second in the Grade 1 Paddy's Rewards Club Chase at Leopardstown on December 27 as Solness retained that festive crown for trainer Joseph O'Brien.

Despite that, Barry Connell's stable star remains as market leader for Cheltenham in March after his comeback run.

Solness was also reappearing but his race went to plan whereas Marine Nationale's did not. Sean Flanagan was perilously close to being unseated at the second obstacle, with the close presence of the mare Only By Night perhaps saving his bacon.

It wasn't a shuddering jumping error, but it cost Marine Nationale lots of momentum and, so, to finish second from there was a pleasing effort.

They may well meet again at the Dublin Racing Festival en route to the Cotswolds and few would bet against the placings being reversed.

Jury now out on Majborough

Majborough was expected to take high rank in this division for Willie Mullins but the six-year-old has twice fluffed his lines now.

He was beaten by Found A Fifty in the Hilly Way Chase at Cork and could only manage third at Leopardstown when Solness fended off Marine Nationale.

His jumping has left something to be desired and it would be hard to suggest he is a natural, while some onlookers are now pondering the need for a step up in trip from the bare two-miles.

Owner JP McManus has Fact To File to defend his Ryanair Chase crown over the intermediate trip, however.

Majborough has delivered some high-class efforts as a novice over fences and while he hasn't fired this season, the Mullins camp aren't yet on full throttle, it seems, and dismissing him could be folly.

Skelton heading straight for Cheltenham

Dan Skelton is dominating the jumps scene in Britain and looks on course to become champion trainer for the first time — though he won't write off Willie Mullins anytime soon.

Winning a Championship race at Cheltenham could be a major boost and L'Eau Du Sud now appears set to head straight there.

He won the Shloer Chase over course and distance in November, comprehensively beating Jonbon, but was only third in the Tingle Creek early last month as Nicky Henderson's Sandown specialist finished second.

After that race Skelton suggested L'Eau Du Sud will head for the Cotswolds “super fresh” and there is no doubting he can be a player in this contest at his best.

Jonbon has major questions to answer now, while another Skelton contender, Thistle Ask, could be a British outsider of note as he made it 4-4 on the season when winning the Desert Orchid at Kempton over Christmas.

Il Etait Temps the emerging force

The horse that has done most to enhance his reputation is Il Etait Temps for Mullins. He raced just once last season, easily dismissing Jonbon in the Celebration Chase at his beloved Sandown, but is already 2-2 this term.

He took a guilt-edged opening at Clonmel over 2m5f on his comeback in November before dropping back in distance for the Tingle Creek and making light work of Jonbon and L'Eau Du Sud.

There's no doubting his current trajectory is upward. Some will query his form in three Cheltenham Festival runs previously but this still lightly-raced eight-year-old is 7-9 over fences and it would be foolish to ignore the profile he is creating.