Cheltenham Festival 2025 – Top trainers in handicaps update

With the publication of entries for this year’s handicaps earlier this week, I thought it an appropriate time to dust off the blog in readiness for the forthcoming Festival (March 11-14). With all that is going on elsewhere in the world, it’s a blessed distraction right now!

I did a post last year highlighting the record of top trainers in the handicaps and have updated the stats for that here with a few comments added.

Weights for these handicaps will be released on Feb 25^th and if for those not already qualified they have to do that by Feb 23^rd.

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What’s changed this year?

Firstly we have 3 more handicaps than we did last year – and they are all chases:

NH Chase.

This used to be a non-handicap but as field sizes have dwindled in recent years it becomes a handicap and is no longer for amateur riders. Three runs over fences are required to qualify and also there is a limit of a mark of 145. Several Irish runners currently quoted are likely to fall foul of being over 145 I suspect next week. I would be highly wary of backing Shannon Royale (got handed a 148 mark in Jan on a speculative Warwick entry), Sa Majeste and Search For Glory with this in mind.

Jack Richards Novice Hcap

The two and half miles novices’ championship event is no more and is now a handicap with 3 runs over fences again required. This race did exist in another name until 2020 but it then had an upper limit on handicap marks – that doesn’t exist now)

Cross Country Chase

For the first time in its history this is now a handicap. Whilst I’m no fan of this event the change can only make this event a bit more competitive. In common with all aged handicap chases at the meeting, a minimum of 4 runs over fences is required to qualify.

The number of hurdles races remain the same but qualification criteria has changed with 5 runs over hurdles now required in all aged handicaps (3 runs for the 4yo only Boodles hcap)

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Who did well last year?

The table below shows how the top trainers I covered in last year’s post did throughout the meeting.

As I did last year, its based on SP returns. Each way is using 1/5 odds 123456 which seems to be fairly standard these days. The ‘standard’ handicap place terms of ¼ odds 1234 aren’t easy to find these days even if you wanted them – I’d often still take that over 1/5 odds 12345 to be honest. While these ‘enhanced’ place terms may look attractive the difference between one quarter and one fifth odds can be quite high and I’d be wanting at least 6 places often to be tempted when it is one fifth.

Analysis of each trainer will follow later.

How does this change these trainers stats over 2019-2024 basis?

An update of the same trainers’ record over the recent 6 year period is here. I’ve separated into hurdles and chasers as there are some notable differences between individual trainer records in each sphere

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UPDATED TRAINER ANALYSIS

GORDON ELLIOTT

Elliott’s figures took a nosedive in handicaps last year. He still shows on overall profit on all his runners for each way bets over the 6 years – thanks to some big priced wins and places. He is still supplying more handicap runners than other trainers but it’s much harder to advertise his credentials as a trainer to follow in such races now. Perhaps, the handicapper has more of a grip on them. Perhaps, he is targetting the non handicaps more?

WILLIE MULLINS

As highlighted last year, the Mullins stable are not so impressive from a profit/loss perspective when it comes to handicaps (particularly in handicap chases). A 12/1 win for Absurde in last year’s County Hurdle helped redress his figures in hurdle handicaps.

He can throw unexposed horses in to such races with attractive marks but they are rarely missed by the layers and prices seldom attractive. The new rules on needing 5 hurdle runs to qualify will also make it harder to run such horses.

Mullins remains a trainer to have the utmost respect for in non handicaps but – aside from the County Hurdle ( he does have a decent record in that) and maybe the Martin Pipe hurdle – he obviously doesnt target the handicaps to the same degree.

NICKY HENDERSON

Nicky had a torrid time at last years festival with his stable under a huge cloud and many big names having to be kept at home. Consequently he had much fewer runners, and several of those that did run ran like they had an issue. It’s therefore quite noteworthy that he maintained and even increased his profit for each way supporters in the hurdles handicaps. Lucky Place and Bold Endeavour both finishing 4th at 25/1 and 50/1respectively achieved that. The former drifted to about double his early price – no doubt due o the stable problems.

Henderson remains one to keep on your side in handicap hurdles – and not necessarily with his perceived number 1 runner as historical results will testify.

DAN SKELTON

Dan had a great Festival in 2024, enhancing his P/L in both chase and hurdle handicaps. The layers have long been aware of him as a trainer who can target handicaps so you may not get the prices you would like but he is still capable proven capable of getting a horse into the right race with a workable mark. His hurdles stats are particularly impressive – something we can also relate to his time with the Nicholls stable several years back when he orchestrated some similar long term planning to great success. A trainer to always keep on your side.

PAUL NICHOLLS

This once powerhouse UK stable is a bit of a force in decline lately. His P/L in handicaps had been dire until last year when Monmiral’s win at 25/1 gave some resurgence. Afadil’s 5th place in the County Hurdle also boosted funds (no doubt help by him being gifted many lengths at the start by the rest of the field). It’s hard to imagine, a horse of his would have started 25/1for any handicap in past years (Monmiral had some decent back form) but it does show that the layers aren’t in fear of him and you may get some value on his runners. The fact he had only 5 handicap runners last year shows he has less to play with. I still find it hard to recommend Nicholls in handicaps but at least if you fancy one you might get a price now. The loss of key assistants like Skelton, Derham and Fry over the years has no doubt had an effect

HENRY DE BROMHEAD

Henry used to be quite selective when sending horses to this meeting and was one to be feared. There seem to be more running now – no doubt because of the big name owners he now has – but his P/L is going in the wrong direction. Ballyadam came close to winning the Coral Cup last year but he remains having no hurdle winners in the past 6 years from 24 contenders. Chasers have a better record and where the stable does retain a bit more of an edge. Another stable that may be concentrating more on non handicaps now? As mentioned last year, the presence of Rachel Blackmore on his horses can also serve to push the price down also

VENETIA WILLIAMS

Hurdles stats not included here as Venetia has always had more success in the chasing sphere. She didnt have any winners last year but Gemirande (5th 40/1) and Frero Banbou (6th 28/1 in the Plate – a race she has traditionally done well in) kept her in a good overall profit for each way support in chase handicaps. She is traditionally associated with soft ground performers and can shine in the winter months of deep ground. You’d be wise to write her off in handicap chases still – but even more so if the mud is flying.

JOE TIZZARD

Nothing in his figures to enhance his claims as a trainer to follow in handicaps here. My personal feeling is that his horses are often pitched too high too early and their marks are too exposed by the time they get here

Others of note:

BEN PAULING had an 8/1 winner (Shakeumupharry) and 28/1 second (Twig) in handicap chases last year. He’d be showing a good profit in chase handicaps over the years (largely due to Global Citizen’s 28/1 win in 2022). He wouldn’t have too many runners compared to those already listed but he does seem to be able to target his horses in the chasers for the day.

JOSEPH O’BRIEN may be more flat based but he is still noteworthy when targeting horses for hurdles handicaps. Last years Boodles winner Larkinthemornin didn’t seem nhat attractively handicapped but easily surpassed previous form to give him a 9/1 winner (Harsh was placed at 40/1 in same race for him). Joseph had been to this party before with Band of Outlaws so its a race to watch his runners closely in

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Hopefully a bit of food for though in these stats for anyone scrutinising the handicaps in the next few weeks.

My regular blog will be back Cheltenham week

Paul