Coronavirus has been a very real worry for people Worldwide in recent weeks and there is certainly potential that the Cheltenham Festival could be caught in the cross-fire if the Betfair Exchange is to be believed.
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Betfair has opened up an Exchange market regarding the chance that the Cheltenham Festival goes ahead, and at the time of writing, it’s certainly an active one too! £167,702 has been matched in the market, with the price for “No” coming crashing down from around 4.5 all the way down to a low of nearly 2.0.
That price has started to climb again in recent hours and at the time of writing, we’re up to 3.3, which is around 9/4 for those thinking in fractions!
Could It Happen?
Given the measures that have taken place in multiple countries, it’s certainly impossible to rule out. No medical degrees or anything of the sort is present on my resume, so I couldn’t comment in that regard, but given the recent troubling spread in Italy, it does bare thinking about the risks of what a big Festival could entail.
Games in the Serie A have been postponed and the Rugby between Ireland and Italy has also been abandoned. Less than an hour ago at the time of writing, IEM Katowice, a major Esports tournament in Poland, had its approval removed for hosting a mass event. That means the play-off stage, which is usually hosted in the 11,500 seater Spodek Arena, will be empty.
All that being said, at present, the Yes’s have it by a reasonable margin and if you’re in the camp of “this is scaremongering”, you can back “Yes” at 1.41. That means around 70% of the time, the Festival would be going ahead in layman’s terms.
I’ve Never Used The Exchange?
If you have a strong opinion either way but have never previously used the Exchange, then our Betfair Exchange Beginner’s Guides can be found on site.
In simple terms, rather than betting with the bookmaker, on the Exchange, you’re betting against another person. “Backing” is a traditional bet and simply means you are backing that horse to win the race, but rather than getting your winnings from a bookmaker, you’re getting them from another person.
The reverse principle applies to “Laying” a horse, which means you are saying that the horse will not win the race. When you lay a horse, you need to accept an increased liability, with the liability being the backer’s stake and winnings if the horse is successful.
What’s Your Thoughts?
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