Irish to gamble €100m at Cheltenham

IRISH punters are set to gamble more than €100 million on this week’s Cheltenham racing festival.

Bookies are expecting their turnover to be ahead of last year, which was the first time the festival was held over four days. There was some concern last year that the extra day of racing would dilute turnover but that has not proved to be the case and the betting industry is forecasting a lift this year.

Ivan Yates, owner of the Wexford-based Celtic Bookmakers with 50 shops around the country, told the Irish Examiner that the betting industry will be out to ensure that punters do not walk away with their money this year.