Bookmakers expect £50 million losses on Cheltenham's first day

Bookmakers are preparing for potential losses of £50 million on the first day of the Cheltenham Festival. A popular four-fold bet involving several favorites is expected to attract many punters, reminiscent of a similar situation ten years ago. Key horses include Kopek Des Bordes and Majborough, both favored in their respective races. Constitution Hill, another strong contender, is also anticipated to draw significant betting interest. If the first three favorites win, the outcome of Constitution Hill's race could greatly impact bookmakers' liabilities, potentially matching the losses seen a decade ago.