Cheltenham: Betfred refunding all Binocular bets

MANCHESTER, England -- (PRESS RELEASE) -- Bookmakers Betfred are refunding all ante-post bets on Binocular after it was announced last year's winner would not run in the Champion Hurdle.

Betfred boss Fred Done said,
"I'm absolutely gutted that Festival week has started with this news and due to the exceptional circumstances of Binocular's defection I have decided to refund all ante-post bets on the horse including all multiple bets. I have punters who backed the Nicky Henderson horse just after he won last year's Champion Hurdle, and because of the manner of its withdrawal it only seems right to give punters their money back. I know AP McCoy very well and he will be gutted not to get the chance to defend his title on Binocular."

But Fred Done will be hoping this is the only refund he has to do this week. The bookie has promised to refund all losing win singles if hot favourite Cue Card wins the Supreme Novices' Hurdle, the very first race of the Festival.

Fred Done added,
"I know it's big risk refunding all losing bets if Cue Card wins but when you get to my age you need a bit of excitement. If the Colin Tizzard horse wins it will ruin the festival for me but that's bookmaking. It's all about taking risks.