Check out the ante post Non Runner No Bet markets for all 28 races at the Cheltenham Festival at bet365.
The road to March always brings a familiar mix of anticipation, debate and second-guessing, but the build-up to the Cheltenham Festival 2026 feels particularly rich with possibilities. With multiple targets still open for many of the leading contenders, punters are weighing talent against uncertainty earlier than ever. Against that backdrop, bet365’s announcement of Non-Runner No Bet (NRNB) markets across all 28 Cheltenham Festival races is a major moment for anyone planning their ante-post approach.
From 17:00 UK time on Tuesday 3rd March 2026, every Win and Each Way bet placed in a designated NRNB market will come with built-in protection. If your selection does not take its place at the start, your stake is refunded. No guesswork, no frustration, just clarity at a time when the picture is still evolving.
This article breaks down how NRNB works, why it matters so much at Cheltenham, and how punters can approach Festival betting with more confidence using this option. We also look at some of the early talking points, key horses to watch, and a race-by-race snapshot of where NRNB can really come into its own.
Non-Runner No Bet is exactly what it sounds like, but its importance at the Cheltenham Festival cannot be overstated.
When you place a bet in an NRNB market:
This applies to both Win and Each Way bets, making NRNB particularly valuable in competitive Festival races where horses often hold entries in more than one event.
Cheltenham is unique in that many trainers keep options open right up until declaration stages. A horse might be entered in two novice hurdles, or have the choice between a championship race and a slightly easier alternative. Without NRNB, ante-post betting in these scenarios can feel like threading a needle in the dark.
With NRNB, the risk is dramatically reduced.
The Festival’s four days bring together the deepest fields of the entire National Hunt season. That depth creates opportunity, but it also creates uncertainty.
Some of the main reasons NRNB is so valuable at Cheltenham include:
In short, Cheltenham rewards early insight, but it punishes rigid thinking. NRNB bridges that gap, allowing punters to take a position without being punished for circumstances beyond their control.
bet365 Racing Expert Pat Cooney highlighted exactly why this move resonates with Festival bettors.
“Following on from 2 tremendous days racing at Leopardstown, it seems now is an appropriate time to offer the NRNB option alongside our Ante Post betting on all 28 races at the Cheltenham Festival. It’s always a popular choice for ante-post backers to have a money back option if you do back a non-runner once the offer applies to each race.
“High profile horses such as Lossiemouth and Romeo Coolio certainly have good chances in either of their possible races and can now be backed with the NRNB option.
“There will also be many others with multiple entries at the meeting, I well remember in 2021 when The Shunter was entered in 6 handicaps, and was well supported in them all, winning 1 and stakes refunded in the other 5 races!
“Constitution Hill will of course be of considerable speculation , prior to his run on the Flat at Southwell later this month. I expect him to be the most selected in the NRNB markets.
That kind of scenario perfectly captures the spirit of NRNB. You stay involved without being overexposed.
This year’s Festival picture is already rich with intrigue, particularly among high-profile horses who have several possible destinations.
Some names naturally draw more attention than others, especially those capable of shaping multiple races:
The ability to back these horses early, knowing your stake is safe if they miss the chosen race, gives NRNB real strategic value.
One horse expected to attract significant NRNB interest is Constitution Hill, whose Festival plans remain a major talking point. With anticipation building ahead of a scheduled Flat appearance at Southwell, speculation around his Cheltenham target is intense. NRNB allows punters to engage with that discussion without locking themselves into unnecessary risk.
With 28 races across four days, NRNB plays a slightly different role depending on the type of contest. And you can follow all the action at bet365’s Cheltenham Festival hub.
The Festival curtain-raiser is famous for setting the tone, but it also features several races where horses often hold alternative entries.
Novices, in particular, may be rerouted depending on schooling, ground, or how the stable’s hand shapes up. NRNB is invaluable here, especially in the handicaps where final weights can reshuffle plans late on.
Wednesday’s card blends top-level championship racing with events still open to interpretation.
While the championship races often firm up earlier, novice events can remain fluid until close to declarations. NRNB allows you to play the long game without second-guessing every stable rumour.
Thursday often revolves around stamina, and that brings its own uncertainties.
Here, ground conditions can be decisive. Softening ground might persuade connections to step up in trip, while quicker conditions can keep options open. NRNB acts as insurance against those late tactical shifts.
Friday’s races are often the most demanding, physically and mentally.
This is a race where entries are frequently shared with shorter-distance novice events earlier in the week. NRNB is particularly useful for backing strong stayers early, knowing you are protected if connections opt for an alternative.
As NRNB markets open, early selections naturally begin to circulate. Among the races generating interest are:
Each of these races contains horses with credible chances and flexible entries. NRNB allows punters to take a view on ability first, rather than worrying about administrative detail.
For readers looking to dive deeper, our Cheltenham Festival tips and predictions hub on BonusCodePoker.com brings together race-by-race previews, form analysis, and Festival-wide betting guides, all tailored to bet365 markets.
NRNB should not replace disciplined staking or sound judgement, but it can enhance both.
Some practical ways punters use NRNB include:
Rather than forcing certainty, NRNB embraces Cheltenham’s natural uncertainty and turns it into something manageable.
The Cheltenham Festival thrives on possibility. Horses improve, plans change, and narratives evolve right up to the final declarations. By offering Non-Runner No Bet markets on all 28 races, bet365 gives punters a way to engage early without feeling exposed.
It encourages informed opinion rather than blind commitment, and it aligns perfectly with how modern Festival betting works. Whether you are targeting a single championship race or building a four-day Cheltenham portfolio, NRNB offers a calmer, more controlled way to play.
As March approaches, keeping one eye on form and the other on flexibility might just be the smartest Festival move of all.
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