The Cheltenham Festival has had a reputation for underdogs ever since 100/1 Norton’s Coin won the 1990 Gold Cup. While no other horse has come close to matching that feat, a number of 40/1 and 50/1 underdogs have made it first past the post at Cheltenham in recent years. Which horses have the biggest chance of causing a betting surprise at this year’s festival, taking place March 12-15? We run the ruler over some of the horses that could cause major upsets in group one races.

Thistlecrack, Cheltenham Gold Cup (14/1)

Colin Tizzard won the Gold Cup last year with Native River. He has three horses in this year’s cup: Native River, Elegant Escape and Thistlecrack. Native River, Presenting Percy, and Clan Des Obeaux have been getting all the attention from punters, but don’t rule out veteran Thistlecrack. The 11-year old has enjoyed success at Cheltenham before, having won the Stayers’ Hurdle in 2016. He hasn’t raced since Boxing Day, although that all appears to be part of the Tizzards’ plan. As assistant trainer Joe Tizzard said in January: “Thistlecrack will go straight to the Gold Cup. He hasn’t got there yet in his career, but he deserves to get there.” Do the Tizzards know something we don’t? Cheltenham Festival betting is underway, and Thistlecrack presents one of the better Cheltenham betting offers at 14/1.

Min, Queen Mother Champion Chase (6/1)

All the early money in this race has gone toward Irish-born, British-trained thoroughbred Altior, who’s paying 2/5. Min is the second-favourite at 6/1, having been backed in from as far back as 14/1 when race odds opened. Why have punters been so keen on Min? One reason might be the impression he made in last year’s Queen Mother Champion Chase, when he put in a strong showing to finish second to Altior by 7 lengths. Another could be Min’s good form, with the 7-year-old recently defending his title at the Ladbrokes Dublin Chase. But most of all, punters are just excited Min will be there to compete with Altior, given trainer Willie Mullins had earlier hinted Min would compete in the Ryanair Chase instead. Whatever happens, Min vs. Altior should be one of the duels to watch at Cheltenham.

Supasundae, Stayers Hurdle (8/1)

This 3-mile race is always the highlight of day three, and it’s suddenly become quite an open field given the withdrawals of last year’s race winner Penhill and another favourite in Presenting Percy. Paisley Park has attracted most of the money, firming to become a 5/4. favourite. Samcros and Faugheen are second and third in betting. But if you’re looking to put your money on an outsider that is always in contention on race day, look no further than Supasundae. This 9-year-old has placed in the top three in each of his last 11 races. He has raced in 19 hurdles for 5 wins and 15 top-three finishes. Most importantly, he placed second in last year’s Stayers Hurdle, two lengths behind Penhill.

Espoir D’Allen, Champion Hurdle (16/1)

For the best-priced underdog of the Champion Hurdle and perhaps the entire Cheltenham Festival, look no further than Espoir D’Allen.  The five-year-old was 50/1 when betting opened, but his stocks have risen on the back of three straight wins in Ireland. The most notable of these victories came on December 28, when he went in at 7/2 odds and stormed home to beat race favourite Stormy Ireland by eight lengths. Espoir D’Allen has eight wins from nine starts. There will be plenty of punters hoping he makes it nine wins from 10 races when he lines up in the 2-mile Unibet Champion Hurdle on day one of the Cheltenham Festival next week.