The Cheltenham Gold Cup is, of course, a Grade One conditions chase, in which six-year-olds and upwards carry 11st 10lb, five-year-olds carry 11st 8lb and mares receive a 7lb allowance. Consequently, while rank outsiders have regularly finished second, or third, over the years, out-and-out shock winners have been a real rarity. In fact, since the Cheltenham Gold Cup was inaugurated, as a steeplechase, in 1924, just five winners have been returned at starting prices of 25/1 or greater. Gay Donald, in 1955, and L’Escargot, in 1970, both belied odds of 33/1 to win the ‘Blue Riband’ of steeplechasing and, more recently, Cool Ground, in 1992, and Cool Dawn, in 1998, both popped up at 25/1 to keep bookmakers happy.

However, the unlikeliest, and longest-priced, winner in the history of the Cheltenham Gold Cup was Norton’s Coin, who prevailed at an eye-watering 100/1 in 1990. Famously one of just three horses trained, under permit, by Carmarthenshire dairy farmer Sirrell Griffiths, Norton’s Coin not only had the temerity to win – beating defending champion, and odds-on favourite, Desert Orchid into third place – but did so comfortably and broke the course record in the process.

The origins of the Cheltenham Festival lie in the so-called National Hunt Meeting and its most prestigious race, the National Hunt Chase. The National Hunt Chase, which is still run at the Cheltenham Festival, was inaugurated at Market Harborough in 1860 and, thereafter, staged at various racecourses up and down the country for the next 40 years or so. The National Hunt Chase was actually run at Cheltenham in 1861, 1904 and 1905, but was run at Warwick in 1902, 1903 and 1906-1910, before finding a permanent home at Prestbury Park in 1911.

The Steeplechase Company (Cheltenham) Limited, under the auspices of Chairman, Frederick Cathcart, petitioned the National Hunt Committee to make the National Hunt Meeting a perennial fixture at Prestbury Park, to be staged in March, as it had been during its itinerant years. The regulatory body agreed and, thus, the Cheltenham Festival – apparently, the term ‘Festival’ was first coined in the Warwick Advertiser in 1907 – was inaugurated, as a two-day fixture, in 1911.

Not to be confused with the village of the same name in Cheshire, Prestbury in Gloucestershire is a residential suburb on the northern outskirts of Cheltenham, in the foothills of Cotswolds. Prestbury Park is known to have existed as long ago as 1136, when it was created by the Bishop of Hereford, and was subsequently used as a medieval deer park and later, in the eighteenth and nineteenth centuries, as farmland. The Prestbury Park site was employed, temporarily, as a horse racing venue from 1831 onwards, but it was not until the turn of the twentieth century that it became synonymous with Cheltenham Racecourse.

In 1881, Prestbury Park was bought by William Baring Bingham, who initially used it as his stud farm, before consenting to ‘lend’ the land for the revival of steeplechasing, under National Hunt Rules, in 1898. Four years later, Cheltenham Racecourse staged a forerunner of what would become the National Hunt, or Cheltenham, Festival and the rest, as they say, is history. Nowadays, Prestbury Park is home to three courses, namely the original ‘Old’ Course, the ‘New’ Course, which was used for the first time in 1967, and the idiosyncratic Cross Country Course, which was added in 1995.