Exchange session littered with expensive failures

AS expected, the Betfair exchange was hopping on day one of the Cheltenham Festival and the day’s trading was littered with expensive failures.

Supreme Novices’ Hurdle favourite Cue Card was very strongly backed in the morning and traded at even-money during the race, but it was in-running supporters of the Nicky Henderson pair, Spirit Son and Sprinter Sacre, who suffered most of all.

Spirit Son, who eventually finished second, looked beaten on the turn for home but rallied to lead at the final flight. He traded at 1.23 (1-4), while his stable-companion touched a low of 1.3 (3-10). The winner, Al Ferof, had been matched at 220 in the ante-post market.