The TrustATrader Plate Handicap Chase is a Premier Handicap steeplechase run at Cheltenham Festival on Day Three. Contested over 2 miles 4 furlongs and 127 yards on the New Course, this historic race features 17 fences and attracts competitive handicappers aged five years and older.
The TrustATrader Plate Handicap Chase stands as one of the most competitive and unpredictable contests of the Cheltenham Festival. Run on Day Three over a demanding distance of 2 miles 4 furlongs and 127 yards, this Premier Handicap attracts large fields of closely-matched horses, creating a betting puzzle that rewards thorough analysis and punishes casual assumptions. With a prize fund of £120,000 and the prestigious Mildmay of Flete Challenge Cup awarded to the winner, the race has established itself as a significant target for trainers seeking Festival glory outside the championship events.
The race's history dates back to 1951, when it was established to honour the 2nd Baron Mildmay of Flete, an accomplished amateur jockey who rode three winners at the Cheltenham Festival before his untimely death in 1950. Originally titled the Mildmay of Flete Handicap Chase, the race has undergone several sponsorship changes, including periods under Racing Post backing and a tribute running as the Freddie Williams Festival Plate. Since 2023, TrustATrader has served as the title sponsor, cementing the race's position within the Festival programme.
What distinguishes this handicap from many others is its remarkable record of producing surprise results and launching horses towards Grade 1 success. The poor performance of market favourites, combined with multiple winners at generous odds, makes it a race where informed punters can find significant value. Understanding the key trends, course requirements, and form patterns is essential for anyone seeking to profit from this fascinating contest.
The TrustATrader Plate Handicap Chase occupies a unique position within the Cheltenham Festival schedule. Unlike the championship races that dominate headlines, this handicap offers opportunities for horses operating below the elite level to claim Festival glory. The race attracts runners from top yards across Britain and Ireland, all seeking the optimal combination of class and favourable handicap mark.
Run on the New Course at Cheltenham, the race presents a stern examination of stamina and jumping ability. The 17 fences must be navigated efficiently, while the undulating terrain and challenging uphill finish demand horses in peak physical condition. The left-handed track configuration, combined with Cheltenham's notorious testing ground, creates conditions that favour experienced campaigners familiar with the venue's unique demands.
The race typically attracts fields of 20 runners, making it one of the most competitive betting heats of the entire Festival. This large field size, combined with the handicap format, creates a level playing field where any number of horses can theoretically win. Market leaders frequently disappoint, while outsiders regularly outperform expectations, making pre-race analysis both challenging and potentially rewarding.
The TrustATrader Plate Handicap Chase is open to horses aged five years and older, though recent trends suggest older horses hold a significant advantage. As a handicap, each runner carries weight determined by the official handicapper based on their rating, with the aim of giving every horse a theoretically equal chance of victory.
The 2 miles 4 furlongs and 127 yards distance represents a thorough stamina test without being an extreme staying contest. Horses need to combine speed with endurance, particularly given Cheltenham's energy-sapping terrain. The New Course features 17 fences, each presenting a significant obstacle that must be jumped accurately while maintaining racing momentum.
The course begins with a downhill section that often sees runners travel at a strong gallop. After navigating fences in the back straight, horses face the challenging home turn before tackling the famous Cheltenham hill. The uphill finish from the final fence tests stamina reserves and mental fortitude, often exposing horses who have been positioned too prominently or lack the necessary fitness.
Horses must be rated sufficiently high to gain entry into this competitive handicap. The minimum rating varies annually depending on the number and quality of entries, but typically horses need to be rated in the mid-130s or higher to secure a place in the field. This ensures the race maintains its Premier Handicap status and attracts horses of genuine quality.
Trainers must carefully manage their horses' handicap marks in the months leading up to the Festival. Running too well in preparatory races can result in a ratings rise that makes the Cheltenham task more difficult, while poor performances may indicate a horse is not in the required form. This delicate balancing act adds another layer of complexity to race analysis.
The race's establishment in 1951 came at a significant moment in National Hunt racing history. Baron Mildmay of Flete had been one of the sport's most popular figures, combining amateur status with genuine talent. His death by drowning in 1950 shocked the racing community, and the creation of this race served as a fitting memorial to his contributions to steeplechasing.
The inaugural running took place in April 1951 rather than March, as the original scheduled date fell victim to a waterlogged course. This early postponement set a precedent for a race that has occasionally been affected by weather conditions, though modern drainage systems have made such disruptions less common.
The race has benefited from various sponsors throughout its history. The Racing Post's involvement from 2006 to 2008 raised the race's profile significantly, with the newspaper providing extensive coverage and analysis. The 2009 running was named the Freddie Williams Festival Plate in tribute to a popular Scottish bookmaker, demonstrating the race's flexibility in honouring racing personalities.
TrustATrader's current sponsorship has brought stability and increased prize money, with the total fund reaching £120,000. This financial backing ensures the race continues to attract high-quality fields and maintains its position as one of the Festival's premier handicap events.
Handicap chases represent the most competitive form of steeplechasing, where horses carry different weights based on their official ratings to theoretically give each runner an equal chance of winning. The handicapper assigns weights to level the playing field, with higher-rated horses carrying more weight than their lower-rated competitors.
The TrustATrader Plate Handicap Chase exemplifies this format at the highest level. Horses must demonstrate stamina over the demanding 2m 4f trip while navigating 17 fences on Cheltenham's challenging New Course. Success requires a combination of class, course experience, and optimal handicap positioning.
Analysis of recent runnings reveals several significant patterns that can guide betting strategies. Understanding these trends provides valuable insight into the type of horse likely to succeed in this competitive handicap.
The age trend has shifted notably in recent years. While winners aged seven to ten dominated historically, each of the last three winners has been aged ten or eleven. Simply The Betts in 2020 was the last seven-year-old to win. This suggests that experience and maturity are increasingly important factors, potentially disadvantaging younger challengers despite their potential class advantage.
Horses rated 140 or higher have dominated, with eleven consecutive winners meeting this threshold. More specifically, horses rated between 143 and 145 hold the strongest recent record, with each of the last three winners falling within this narrow band. Simply The Betts off 149 in 2020 represents the highest-rated winner since 2013, suggesting there may be a ceiling beyond which horses are over-handicapped.
Prior experience at Cheltenham proves crucial. All but three winners since 2013 had at least one previous run at the track, while half possessed previous winning form at the venue. The unique characteristics of Cheltenham's undulating New Course, with its challenging fences and demanding finish, clearly favour those with track familiarity.
Adequate experience over fences is essential. All but two winners since 2013 had at least five starts over fences, while nine of the last twelve boasted at least two chase victories. Additionally, every winner since 2013 had previous experience over the 2m 4f distance, confirming that stamina testing is vital.
The betting market for the TrustATrader Plate Handicap Chase presents interesting opportunities for value seekers. The race has developed a reputation for producing surprises, with market leaders frequently disappointing.
Only three of the last twelve winners started as favourites, with just one additional winner coming from the top three in the betting. In each of the last two runnings, the post-time favourite failed to complete the course. This poor favourite record suggests the race's competitive nature makes it difficult for market leaders to justify short prices.
Two winners since 2022 were priced at 20-1 or bigger, highlighting the potential for significant returns. Shakem Up'Arry's victory in 2024 and Seddon's win in 2023 both rewarded those willing to look beyond the market principals. This pattern indicates that thorough form analysis can uncover overlooked contenders carrying favourable handicap marks.
The race has produced several horses who went on to achieve Grade 1 success, establishing it as a valuable form reference and springboard to bigger targets.
Road To Respect won the 2017 running before capturing the Grade 1 JNwine.com Champion Chase at Down Royal. The Storyteller followed his 2018 victory with Grade 1 success at the Punchestown Festival. These examples demonstrate that the race attracts horses with genuine class operating off workable handicap marks.
Shakem Up'Arry's 2024 victory was particularly notable, as he had finished third in the 2023 renewal. His return to winning form off just 2lb higher demonstrated the importance of course-and-distance form. The application of cheekpieces for the first time provided the necessary edge in a competitive finish.
Ground conditions significantly influence the outcome. While the race is run on varying going, from good to soft, several winners have shown their best form on softer surfaces. Shakem Up'Arry won on soft ground in 2024, as did his predecessor Seddon in 2023.
However, the race is not exclusively for soft-ground specialists. Simply The Betts won on good to soft in 2020, while other winners have prevailed on good ground. The key is identifying horses whose optimal ground conditions match the prevailing going, rather than assuming soft ground is essential.
Supporting excellence in National Hunt racing and the Cheltenham Festival
In-depth analysis of the leading candidates for the upcoming TrustATrader Plate Handicap Chase, examining form, trends, and value opportunities in a competitive field.
Comprehensive review of past winners and their subsequent careers, revealing patterns that help identify future champions in this prestigious Cheltenham Festival handicap.
Ben Pauling's ten-year-old produced a determined performance to win the Plate Handicap Chase, justifying the application of first-time cheekpieces with a narrow victory.
John McConnell's charge defied his 20-1 starting price to win the Plate Handicap Chase, continuing the race's tradition of producing value winners for shrewd punters.
The trade directory platform has renewed its sponsorship of the Plate Handicap Chase through 2026, maintaining its association with one of Cheltenham Festival's most competitive handicaps.