Following bookmaker Bet365’s introduction of the NRNB (No Runner No Bet) initiative, just in time for the Cheltenham Festival, this has in turn triggered somewhat of a domino effect.
As a result, fellow bookmakers Paddy Power and Sky Bet, through their parent company Flutter have followed suit, offering this on all 28 races, signalling a defensive move in order to protect their market share.
Because of this, we could also see others follow suit, such as Coral, William Hill and Ladbrokes, but initially restrict this to just flagship races, such as the Gold Cup or Champion Hurdle, before moving to all 28 races. While more bookmakers may offer the NRNB promotion, the cost could well be shorter odds that come with it.
The Eradication Of The ‘Mega-Promo’
There was a time when many bookmakers would offer generous Cheltenham Festival welcome bonuses, in many variations, such as ‘Deposit £20 Get A Free £2 Bet On Every Race” or “Bet £10 Get £50”, however, you have to go back beyond 2020 for that.
Now, following a significant hike in remote betting duty, to 25%, by 2027, these types of promotions have become increasingly a thing of the past.
Despite this though, the NRNB is seen to be a novel gesture by bookmakers, regardless of how punters perceive it.
Meanwhile it appears that even the biggest players are assessing the commercial viability of Cheltenham now, after Coral pulled its sponsorship of the ‘Coral Cup’, further underlining how much of a knock-on effect an increase in gambling tax has had.
Is There The Demand For Cheltenham Festival Betting Anymore?
Over the last couple of years, we have seen attendance figures at the Cheltenham Festival decline somewhat, which poses the question; how much of a difference will the NRNB promotion make?
It will also be interesting to see how many attend the event this year, especially with such strong fields expected in the major races.
Of course, generally online betting figures for the Cheltenham Festival are often very reasonable, however, these usually favour the bookmakers that have the largest market share.
Bet365 are a stalwart of British online bookmaking and have always been seen as somewhat ahead of the curve when it comes to promotions and offers so it will be interesting to see how many of their punters get on board with the NRNB initiative.
Naturally, they will expect their competitors to follow suit in what is a fickle business though, being first may just have worked in their favour.
In many cases at the big events though, punters like longer odds so it will be interesting how much of an effect this will have on betting numbers. Some may view the NRNB as pointless if they have identified a horse they have a good feeling about though realise that the odds will be shorter than usual because of the NRNB promotion. So, in some cases, this could well backfire. Only time will tell.