bet365 has become the first bookmaker to offer non-runner-no-bet on all races at the Cheltenham Festival, meaning you can place a bet on any horse with them safe in the knowledge that if it's a non-runner for any reason you will get your money back.

That's a useful concession to have on your side as several fancied horses are still in more than one race and their trainers will be leaving their decision to as late as possible, which is understandable as the ground can dry out very quickly at Cheltenham. A few years ago, the ground was heavy on the Friday before the festival but had dried out to good to firm by the time the Gold Cup was run a week later. In fact, after a relatively dry week last week, it's no surprise to hear that they're considering watering the track for this year's festival.

While the big four championship races are unlikely to see many high profile defections, the novice hurdles in particular are a minefield for punters. Later this week, we will find out whether Hurricane Fly, bet365's 7/2 favourite for the Supreme Novices', will take part at the festival after his recent setback, while the actual race in which he will run in is still the subject of much conjecture - he's also in Wednesday's Ballymore Properties Novices' Hurdle and the Champion Hurdle.

Providing he gets the green light to run, my guess is that he will head for the Supreme Novices' and he could yet develop into one of the Irish bankers of the meeting. There was no mistaking his brilliance when winning the Royal Bond Hurdle by an unextended ten lengths and the runner-up, Go Native, boosted the form by winning at Naas over the weekend. If he can hold his form or even improve again - he progressed massively from his first run to his second - he will be hard to beat.

In his absence, the one I'd want to back is David Pipe's Torpichen (7/1 NRNB bet365), who impressed me when winning at Sandown last time, and that form was given a major boost at Kempton on Saturday when the runner-up, Trenchant, wore down his rivals to win the Grade 2 Dovecote Novices' Hurdle. He too, though, is still in more than one race at the festival, so punters shouldn't even consider backing him without the non-runner-no-bet proviso.

It's also worth noting that Coral are offering non-runner-no-bet on the Champion Hurdle, Gold Cup, World Hurdle and Champion Chase, while Blue Square are non-runner no bet on the Champion Hurdle and Gold Cup.