I think i've mentioned this before but last year I had 10 horses at big ap prices who made it to their respective races and none of them won. But I managed to cover a few of them (MIN/Champ double saved the bacon) and ended up breaking even. I was thinking of laying off close to the Fest and then topping up each way as a lot of them placed.
I tend to go in quite heavily early and make something resembling a book for the big races, generally each way unless the odds are restrictive, and then I try and get those horses onside in a different way, which I've already done with Al Boum Photo this year.
I may also get in and out of horses pre and post trials if I think there's a risk.
I then re-study the form, lay most of my book back pre-race, and just keep what I want, and then add anything I've missed. I just think when you've got great odds so far out you want to try and fill the frame. In the case of the Gold Cup I want the 1-2-3, and will have a maximum of 4 bets (more likely 3) still riding on the day.
These are my Gold Cup bets so far:
Al Boum Photo win roll up (other legs have won) 37.5/1
Santini 20ew 7/1
Champ 10 ew 14/1. 10ew 12/1,
Minella Indo 10ew 16/1, 14/1
Topofthegame 20/1
Samcro 10ew 25/1
Saint Calvados 10 ew 50/1
Monalee 10ew 50/1
Melon 50/1
I don't want Lostintranslation so haven't added him, but may later depending on how the race starts to form. Allaho is a gaping hole that I'm about to fill, but I'm still holding back because I believe the Ryanair is the better race for him at this stage. That said Willie has enough credible candidates for that race, and as discussed A Plus Tard is most likely going to be there runner in that race. Other than that it'll take something credible from left-field for me to add to it.
I will top up stakes on some of these as the season progresses though, and I'd be surprised if any of them aren't great trading opportunities any time from the turn of the year to the day of the race. The risk of injury and not being quick enough for cash out is the biggest risk, but even with that being the case the winner and placers are still likely to be covered. And I look at Cheltenham as one big book anyway, so if I get caught on a race like most of us were with the Champion Chase last season, the risk is spread across all the early antepost races I've taken a position in. I won't after-time by talking specifics after the event (there are people who post here that could corroborate), but I had a very good Festival all round last year, and the long range stuff really paid off as usual overall.