Cheltenham Festival | Road To The Roar: Reaction to Constitution Hill's scintillating Southwell success, plus the latest handicap clues and market movers
23 Feb 2026
All of the headlines going into, and coming out of, this weekend have been about Constitution Hill's rousing nine and a half length romp on the flat at Southwell on Friday night, but there were plenty more handicap clues out there over the weekend. Check out our latest Cheltenham Preview for all the latest market movers, quotes and more!
FROM THE TRADING FLOOR
Where else can we start other than Constitution Hill who dominated the headlines with his superb win on Friday night at Southwell. Turnover was through the roof compared to a typical Friday night and now thousands of options seem open. We can't remember ever quoting one horse for such a wide range of races!
We are now 9/4 NRMB (from 3/1) for the Champion Hurdle but will he even run when such riches seem ripe for the taking on the flat? 4/7 says Yes, 5/4 says No. We also go 14/1 (from 33/1) that he wins the Ascot Gold Cup and 25/1 that he wins the Melbourne Cup.
Constitution Hill to win the Champion Hurdle (NRMB) – ADD TO BETSLIP
We are less than three weeks away from the Festival, but there was still time for a few more horses to jump up the betting with big performances over the weekend. Sinnatra (winner at Warwick on Friday) is now 14/1 NRMB (from 16/1) to extend Dan Skelton's incredible record in the County Hurdle, whilst Sunday's Naas Pertemps Qualifier winner, Melbourne Shamrock, is 10/1 NRMB (from 14/1) for the Pertemps Final for ultra-shrewd Emmet Mullins.
Sinnatra to win the County Hurdle – ADD TO BETSLIP
Melbourne Shamrock to win the Pertemps Final – ADD TO BETSLIP
Official entries for the Cheltenham Festival handicaps were released on Tuesday and we marked the date by going NRMB on all races. Handstands is 12/1 (from 14/1) to win the Ultima, and has been one of the best-backed horses in the past few days with trainer Ben Pauling declaring "he will win" in an especially bullish interview, but we remain sceptical at double figures. Ladbrokes Trophy winner Lookaway is now 14/1 NRMB (from 20/1) to follow-up in the Ultima.
Ultima Handicap Chase Latest Odds
Ante-post focus switches to the Grand National next weekend with our 6/1 favourite Iroko set to tune-up in the Premier Chase at Kelso. He looks an improved model this year and his Ascot victim Firefox did plenty to endorse his form with a fine third in the Irish Gold Cup. Last year's race looks the key piece of form to focus on with last year's third Grangeclare West slashed to 10/1 from 20/1 on Saturday after sloshing through the mud in the Bobbyjo.
Grand National Latest Odds
CONSTITUTION HILL'S CONNECTIONS HAVE THEIR SAY ON THE REST OF THIS YEAR'S CAMPAIGN
Trainer Nicky Henderson immediately after the win: "I think he enjoyed himself. To go racing and do that for him is lovely because it probably hasn't been as much fun for him as it should have been. It's nice to be back with positive vibes and we've lots to look forward to and lots of decisions to make. I thought this would tell us what to do and it opens up a lot of doors, we could do a lot of things so we'll have to think long and hard. It'd be lovely to say 'we'll do this' but I don't think we can at this moment. Of course [our thinking] includes the Champion Hurdle."
His Southwell jockey Oisin Murphy had this to say: "He felt like a machine at home. There wasn't a lot of strength in depth in that race and if he continues on the Flat he'll have tougher assignments, but the feel was the exact same today. For a big horse who's been jumping he has a lot of speed and is a joy to ride and it's great he's getting such a reception. It'd have been easy to blast off in front but I wanted to get in amongst them and give him an idea of what a Flat race is like. His next assignment if he ran on the Flat would probably be in a black type race."
By Sunday his owner Michael Buckley was looking further afield: "We need to make a plan, which we can always change along the way, but I think that the horse should be running at the end of August or beginning of September, in either the Ebor, a race at Goodwood or in the Irish St Leger, with the view of going to Melbourne. I think he'll stay two miles on the Flat – Nicky was the one who came out to John Gosden about the Ascot Gold Cup as a joke! Nicky doesn't think he'll stay two and a half miles on the Flat, but right now I'd like to aim at the Melbourne Cup."
Constitution Hill to win the Melbourne Cup – ADD TO BETSLIP
And Buckley had this to say about the Champion Hurdle: "We certainly care like hell about our horses and we don't want him to do something that threatens his very existence or hurt Nico [de Boinville], or disappoints everyone. On the other hand, we see how much the horse is loved and would like to see him run. If he ran and won the Champion Hurdle, it would kind of put a few demons to bed for me, but if he doesn't run on that Tuesday next month, I don't see him running over hurdles again this year."
Will Constitution Hill run in the Champion Hurdle? – Latest Odds (Market available until 15:00 24/02/2026)
Final word goes to his trainer: "We’ve got to bear this cross of responsibility, we owe that to racing and to everybody. It’s not me that’s wanting anything out of it, a lot of people would love to see him go to Cheltenham and do it, with a fraction saying, 'No you shouldn’t.' More importantly, in our mind is the fact that our responsibility is to racing as a whole, not to undo the good that’s been done. The sooner we make the decision, probably for my own sake and health, is probably a good idea."
CHELTENHAM FESTIVAL – LATEST ANTE-POST BETTING
CHELTENHAM FESTIVAL – BOOSTED SPECIALS
All odds referenced in this article are accurate as of 1pm 23/02/2026
FROM THE TRADING FLOOR
Where else can we start other than Constitution Hill who dominated the headlines with his superb win on Friday night at Southwell. Turnover was through the roof compared to a typical Friday night and now thousands of options seem open. We can't remember ever quoting one horse for such a wide range of races!
We are now 9/4 NRMB (from 3/1) for the Champion Hurdle but will he even run when such riches seem ripe for the taking on the flat? 4/7 says Yes, 5/4 says No. We also go 14/1 (from 33/1) that he wins the Ascot Gold Cup and 25/1 that he wins the Melbourne Cup.
Constitution Hill to win the Champion Hurdle (NRMB) – ADD TO BETSLIP
We are less than three weeks away from the Festival, but there was still time for a few more horses to jump up the betting with big performances over the weekend. Sinnatra (winner at Warwick on Friday) is now 14/1 NRMB (from 16/1) to extend Dan Skelton's incredible record in the County Hurdle, whilst Sunday's Naas Pertemps Qualifier winner, Melbourne Shamrock, is 10/1 NRMB (from 14/1) for the Pertemps Final for ultra-shrewd Emmet Mullins.
Sinnatra to win the County Hurdle – ADD TO BETSLIP
Melbourne Shamrock to win the Pertemps Final – ADD TO BETSLIP
Official entries for the Cheltenham Festival handicaps were released on Tuesday and we marked the date by going NRMB on all races. Handstands is 12/1 (from 14/1) to win the Ultima, and has been one of the best-backed horses in the past few days with trainer Ben Pauling declaring "he will win" in an especially bullish interview, but we remain sceptical at double figures. Ladbrokes Trophy winner Lookaway is now 14/1 NRMB (from 20/1) to follow-up in the Ultima.
Ultima Handicap Chase Latest Odds
Ante-post focus switches to the Grand National next weekend with our 6/1 favourite Iroko set to tune-up in the Premier Chase at Kelso. He looks an improved model this year and his Ascot victim Firefox did plenty to endorse his form with a fine third in the Irish Gold Cup. Last year's race looks the key piece of form to focus on with last year's third Grangeclare West slashed to 10/1 from 20/1 on Saturday after sloshing through the mud in the Bobbyjo.
Grand National Latest Odds
CONSTITUTION HILL'S CONNECTIONS HAVE THEIR SAY ON THE REST OF THIS YEAR'S CAMPAIGN
Trainer Nicky Henderson immediately after the win: "I think he enjoyed himself. To go racing and do that for him is lovely because it probably hasn't been as much fun for him as it should have been. It's nice to be back with positive vibes and we've lots to look forward to and lots of decisions to make. I thought this would tell us what to do and it opens up a lot of doors, we could do a lot of things so we'll have to think long and hard. It'd be lovely to say 'we'll do this' but I don't think we can at this moment. Of course [our thinking] includes the Champion Hurdle."
His Southwell jockey Oisin Murphy had this to say: "He felt like a machine at home. There wasn't a lot of strength in depth in that race and if he continues on the Flat he'll have tougher assignments, but the feel was the exact same today. For a big horse who's been jumping he has a lot of speed and is a joy to ride and it's great he's getting such a reception. It'd have been easy to blast off in front but I wanted to get in amongst them and give him an idea of what a Flat race is like. His next assignment if he ran on the Flat would probably be in a black type race."
By Sunday his owner Michael Buckley was looking further afield: "We need to make a plan, which we can always change along the way, but I think that the horse should be running at the end of August or beginning of September, in either the Ebor, a race at Goodwood or in the Irish St Leger, with the view of going to Melbourne. I think he'll stay two miles on the Flat – Nicky was the one who came out to John Gosden about the Ascot Gold Cup as a joke! Nicky doesn't think he'll stay two and a half miles on the Flat, but right now I'd like to aim at the Melbourne Cup."
Constitution Hill to win the Melbourne Cup – ADD TO BETSLIP
And Buckley had this to say about the Champion Hurdle: "We certainly care like hell about our horses and we don't want him to do something that threatens his very existence or hurt Nico [de Boinville], or disappoints everyone. On the other hand, we see how much the horse is loved and would like to see him run. If he ran and won the Champion Hurdle, it would kind of put a few demons to bed for me, but if he doesn't run on that Tuesday next month, I don't see him running over hurdles again this year."
Will Constitution Hill run in the Champion Hurdle? – Latest Odds (Market available until 15:00 24/02/2026)
Final word goes to his trainer: "We’ve got to bear this cross of responsibility, we owe that to racing and to everybody. It’s not me that’s wanting anything out of it, a lot of people would love to see him go to Cheltenham and do it, with a fraction saying, 'No you shouldn’t.' More importantly, in our mind is the fact that our responsibility is to racing as a whole, not to undo the good that’s been done. The sooner we make the decision, probably for my own sake and health, is probably a good idea."
CHELTENHAM FESTIVAL – LATEST ANTE-POST BETTING
CHELTENHAM FESTIVAL – BOOSTED SPECIALS
All odds referenced in this article are accurate as of 1pm 23/02/2026
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