For all ardent racing fans, attending the Cheltenham Festival is always a highlight of the calendar and for the majority, enjoying a flutter and a beverage during National Hunt racing’s showcase meeting is a certainty.
A recent study by cheltenhamfestival.net has revealed an interesting insight into how racegoers spend their pennies at the Festival in March, and the results are pretty mind-blowing…
On average, a spectator at the Festival will part with a hefty £660 during the four-day Festival, which statistically is 30% of a monthly salary in Britain.
So where is most of this money being spent? Well according to the study — and perhaps unsurprisingly — the majority of racegoers spend most of their hard-earned dosh on alcohol.
The new study was based on 2,612 adults aged 18 or over and based in the UK, with each person having attended the Cheltenham Festival before — they were also returning for the 2018 spectacle, attending at least one day or more.
They were asked how much money they predicted they’d spend at the Festival this year, with answers ranging from just £40 up to a more jaw-dropping £1,900.
“It’s easy to get carried away when you’re at the races — your mates are there, you’re drinking and everyone’s shouting out in the horses”, explains Varun Mathure from cheltenhamfestival.net. “A few drinks down and you’ll end up spending way more than you initially planned too — be it on more alcohol, betting or even adult entertainment.”
The research also delves into past spending habits during the Festival, with averages being revealed for the money spent on accommodation, alcohol, food and other entertainment:
Club entries: £54
Adult entertainment: £30
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Of course, there will always be the nifty racegoer who manages to leave with more money in their pocket than they arrived with (the lucky ones!) but the statistics show that 74% of people taking part in the study said they left the Festival with “significantly less” money.
So, if you’re heading to the Cheltenham Festival this year make sure your purse or wallet is prepared for it — although let’s be honest, it is money well spent for an enjoyable few days of top-class racing.
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