Betfair have opened a new market amid fears that the Cheltenham Festival 2020 could be put on hold due to the threat of the coronavirus.
They have launched a Yes/No Market on Will Racing Go Ahead – Cheltenham 2020?
The famous Festival is set to get its start on Tuesday, March 10th.
But the way that the market currently sits, the “No” option in the Festival going ahead in March is at 3.5 decimal, so around a 25% chance of happening.
Will Racing Go Ahead? Cheltenham 2020*
Yes 1.35
No 3.5
* (betting odds taken from Betfair at 17:24 GMT on Wednesday, February 26th 2020)
The Yes option therefore around the 1.35 decimal odds mark implies an approximate 75% chance of happening.
So the odds, as they stand, are still in favour of the Cheltenham Festival going ahead in March.
Incidentally, the Will Racing Go Ahead? Cheltenham 2020 market at Betfair relates to the initially scheduled meeting only.
If there is at least one race ran (as there is a possibility that the Festival could be scaled back as opposed to being cancelled outright) the market will be settled as YES.
Contingency plans in place
So where has the prompt come from? News this week from the British Horseracing Authority (BHA) announced that they have already come up with contingency plans to move the meeting to later in the year if need be.
The last time that the Cheltenham Festival was not held was in 2001 when an outbreak of the foot-and-mouth disease forced its cancellation.
It is the Government who will have the say over whether or not racing would proceed. It wouldn’t be down to the BHA.
