Horse racing is the second largest spectator sport in Great Britain, and one of the longest established, with a history dating back many centuries. According to a report by the British Horseracing Authority it generates £3.39 billion total direct and indirect expenditure in the British economy, of which £1.05 billion is from core racing industry expenditure, and the major horse racing events such as Royal Ascot and Cheltenham Festival are important dates in the British and international sporting and society calendar.

The Cheltenham Festival is a horse racing-based meeting in the National Hunt racing calendar in the United Kingdom, with race prize money second only to the Grand National. The four-day festival takes place annually in March at Cheltenham Racecourse in Cheltenham, Gloucestershire. It usually coincides with Saint Patrick's Day and is particularly popular with Irish visitors.