With more and more of the Grade 1 races at the Cheltenham Festival asking punters to take a view on an odds-on favourite, the handicaps are a much more comfortable home for those who like to find one at a big price.

There are ten handicaps at the Cheltenham Festival in all. There are hurdles and chases at around two miles, two and a half miles and three miles. There are jockey-restricted races in the Martin Pipe, which is for conditional (essentially apprentice) riders, and the Kim Muir over fences for amateur jockeys. The Cross Country Chase and Boodles Handicap Hurdle are pretty unique within the whole racing calendar.

On the day, Boylesports will be offering extra places in all the handicaps. At that point, each-way multiples are advised as you could get a nice return without even having to pick a horse that finishes in the first three. For now, here is an advised win-only multiple for the Cheltenham Festival handicaps.

Minella Indo, Cross Country Chase, Wednesday

The Cross Country Chase is nowadays where former Gold Cup horses come to see out their days. Never has that been more strongly advertised than with Minella Indo, winner of the 2021 Cheltenham Gold Cup. He took well to the unique course in November, when he would have been unlikely to be fit and he has always come alive in the spring anyway.

He is well-treated on form that is not very old, while class tends to out more in handicaps in cross-country races anyway. He is also in the Grand National off the same mark, and if he wins here a shot at Aintree glory would surely be hard to resist.

Libberty Hunter, Grand Annual Chase, Wednesday

Plenty of collective hours go into assessing the Cheltenham ground before the meeting- perhaps too much when the form itself is hard enough to parse. The current thinking, that the Cheltenham Festival will start on softer ground, would be helpful to Libberty Hunter’s chances but I would not be put off even if it came up on the soft side of good, which would seem to be as quick as conditions will get in the first half of the week.

This horse would be unbeaten over fences had he not crashed out late at Chepstow on his chasing debut. Since then he has won, both at Chepstow and then at Cheltenham on New Year’s Day. He beat Arkle-bound Matata the last time, jumping like an old pro and looking ready for a shot at a big handicap. With the relevant match practice round here under his belt, he meets the rare double of being unexposed and sure to handle the test. And if it is a bit softer than usual underfoot, then all the better.

Theatre Man, Festival Plate, Thursday

The novices’ handicap chase here on trials day always works out well. I happen to fancy winner Ginny’s Destiny for the Turners, the first race on Thursday. Before he wins there and ruins the price, back runner-up Theatre Man to go one better in the Plate.

Theatre Man travels like he has a real engine but he was set plenty to do behind Ginny’s Destiny before staying on well to beat the rest. Some of those horses behind have already won since, and Theatre Man has clear potential to do better still. He deserves to be taken seriously up against fully-fledged chasers for the first time.

Iberico Lord, County Hurdle, Friday

While the less exposed in the field were always likely to push Iberico Lord off the top of the County Hurdle betting once the weights came out, he remains as likely as any to win the race. He already has the course form, having taken the Greatwood Hurdle here in November. He improved again when overcoming the run of the race to win Newbury’s Betfair Hurdle, so he should not be assumed to be exposed just because he keeps winning.

Returned to Cheltenham, which given he is owned by JP McManus was always likely to be the aim even before Newbury, Iberico Lord is bound to run another mighty race in the County Hurdle. If he wins, it would be a big-handicap hat-trick worth celebrating.