As with the rest of storm-ravaged Britain, insurance companies will bear the brunt of yesterday’s abandonment at Cheltenham. And despite the brave face portrayed by the bookmaking industry, they too will suffer reduced turnover when the Festival closes tomorrow.

Those best insulated against the financial ill-wind include owners, trainers, jockeys, stable staff and the racecourse itself. Ticket-holders will receive a full refund that is redeemable from a complex series of insurance policies which the racecourse executive would not discuss in any detail.

With 50,000 advance tickets sold and a further 2,500 pay-on-the-day punters expected, Cheltenham has lost revenues from ticket sales and food and drink in excess of £3.5 million. However, the expected increase in attendance today — the capacity is 65,000 — may be offset against claims that will take months to resolve.

With Channel 4 showing six races today and tomorrow, all race sponsors due a presence on live television have been accommodated. That has enabled Cheltenham to reschedule yesterday’s lost races with the same prizemoney as originally advertised.

The on-course betting ring turnover is £2 million daily, to set alongside Tote takings of £2½have<NO>has waived restrictions on Saver tickets today so racegoers can travel on earlier trains.

On the corporate side, Chris Coley, who was due to take 2,500 clients to Cheltenham yesterday, will activate insurance to redeem the majority of his outlay. It will be his second major claim since 2001, when foot-and-mouth wiped out the entire Festival.