Race 3 · Champion Day · Tuesday, 10 March 2026 · ~2:50pm
Ultima Handicap Chase
Live betting odds comparison for one of the most popular each-way bets of the Festival — 3m 1f · Grade 3 · Old Course
Live betting odds comparison for one of the most popular each-way bets of the Festival — 3m 1f · Grade 3 · Old Course
Compare the latest each-way odds from leading bookmakers for the Ultima Handicap Chase. Big fields mean big each-way terms — updated as we approach 10 March 2026.
The live odds comparison widget will be inserted here. Check back closer to race day for the latest Ultima Handicap Chase odds with each-way terms from all major bookmakers.
The Ultima Handicap Chase is the ultimate big-field betting race of Champion Day — a three-mile one furlong cavalry charge that regularly attracts fields of 20 or more runners and produces some of the most exciting finishes of the entire Festival.
As a Grade 3 handicap, the Ultima levels the playing field between horses of varying abilities by assigning each runner a weight designed to give them an equal theoretical chance of winning. In practice, this creates a genuinely competitive race where the winner can emerge from almost any part of the market, making it a favourite with punters who relish each-way value at longer prices.
The race is run over three miles and one furlong on the Old Course, incorporating a full set of fences including the notorious open ditch complexes that catch out jumping imprecision. The extended distance provides a genuine stamina test, and horses who can travel kindly in the middle of the pack before delivering a sustained run up the hill are perfectly suited to the demands of the Ultima.
The race has undergone several name changes over its history — previously known as the Thyestes Chase equivalent at Cheltenham before adopting the Ultima branding — but its status as one of the most hotly contested betting races of the Festival has never wavered. Bookmakers offer enhanced each-way terms of up to five places on this race, making it an outstanding vehicle for each-way betting strategy.
In big-field handicaps at Cheltenham, horses carrying 10st 4lb or less have a strong statistical record. The hill punishes horses who are carrying excess weight in the final stages. Look for horses in the bottom third of the weights who are not obviously inferior on form.
Course and distance winners have a markedly better record in this race than horses running at Cheltenham for the first time. The Old Course's unique undulations, cambers and uphill finish are not to everyone's taste, and horses who have already negotiated them successfully carry a tangible advantage.
Unlike championship races where freshness is prized, the Ultima tends to reward horses who have had a prep run in the six weeks before the Festival. A smooth, confidence-building performance at a good track in January or February is often the ideal preparation.
The Ultima is the ideal each-way betting race of Champion Day. With most bookmakers offering 1/5 odds for five places in a field of 16+, backing a well-handicapped horse at 14/1 or 16/1 each-way represents excellent expected value. Spread your each-way bets across two or three selections.