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Where else can you go where there is millions of pounds changing hands?We

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"Where else can you go where there is millions of pounds changing hands?"We have contacted those who are liable to be taking substantial amounts of cash, i.e the bookmakers, the Tote and the caterers. Ever since the Northern Bank headquarters in Belfast were relieved of £26.5m in a December raid, there have been fears that the cash-fest of a Cheltenham Festival would be the perfect laundering venue. A place where money changes hands more quickly than the horses run, and a place where notes with an Irish stamp, like the Irish jumpers themselves, are not conspicuously out of place."We have had no official indication from police, but, of course they [the launderers] will be here because where else will they go?" Edward Gillespie, the Cheltenham managing director, said yesterday. For National Hunt racing it has dawned, the day anticipated all year, when those involved wake unusually early to a freezing morn and the promise of gifts and certain excess. There is something childlike about the expectancy the Cheltenham Festival engenders, and, while it may not spread to the 12 days of Christmas, there is an extra card and an extra afternoon this spring as the great gathering in the Cotswolds stretches to four days for the first time.There is, however, a spectre at this elongated feast. Top handicapper Essex needs to improve but has every chance of doing so, a remark that also applies to Accordion Etoile, who hated heavy ground when behind Macs Joy at Leopardstown.. Harchibald beat Back In Front at Punchestown in November and has gone from strength to strength this season (beating Rooster Booster at Kempton last time) but this stiffer course may not be ideal, whereas Back In Front has already won three times here, including over C&D in December when beating Inglis Drever. Colm Murphy's gelding would arguably have won on the latter occasion, however, had he not had to recover from a horrendous mistake at the third flight and he showed a liking for this track when landing the Supreme Novices' Hurdle at last year's Festival.

Always runs his race, but this looks tough15 -4120P Turnium (24) (F Wilson) M Scudamore 10 11 10 James DaviesDecent hurdler/chaser on soft ground in his native France, but has shown little since arriving in Britain and is likely to find life very hard- 15 declared -Betting: 7-2 Hardy Eustace, 4-1 Back In Front, 6-1 Harchibald, Macs Joy, 7-1 Essex, 8-1 Brave Inca, 9-1 Accordion Etoile, 14-1 Rooster Booster, 20-1 Self Defense, 40-1 Al Eile, 66-1 others.2004: Hardy Eustace 7 11 10 C O'Dwyer 33-1 (D Hughes, Irl), 14 ran.Verdict: Macs Joy has finished ahead of BRAVE INCA on three occasions this season, including by a short-head last time at Leopardstown when reigning champion Hardy Eustace was another short-head away in third. Obvious chance today11 F-456P Present Bleu (18) (D) (F Wilson) M Scudamore 10 11 10 DoubtfulHas not jumped hurdles in public for over three years and cannot possibly be fancied to trouble the principals here. Needs things to drop right13 -23443 Royal Shakespeare (24) (D) (J Webb) S Gollings 6 11 10 J CullotyWon last season's Grade 2 Top Novices' Hurdle at Aintree, but has struggled against some of the best around this season and might do so again14 12-421 Self Defense (38) (CD) (Fraser Miller Racing) P Chamings 8 11 10 R ThorntonProved his worth on the Flat last summer and he has returned to this sphere seemingly better than ever. A doubtful runner anyway12 -24422 Rooster Booster (38) (CD) (BF) (T Warner) P Hobbs 11 11 10 R JohnsonOne of the best hurdlers of recent years, although his runs this term suggest he is vulnerable to the younger brigade. More needed now, but progressive7 -43111 Harchibald (79) (D) (D Sharkey) N Meade (Irl) 6 11 10 P CarberryRapidly improving Irish hurdler who is looking for a hat-trick of victories at Grade 1 level. Won the Bula Hurdle here when last seen and has an obvious chance5 -12222 Brave Inca (51) (CD) (Novices Syndicate) C A Murphy (Irl) 7 11 10 B M CashWon the Supreme Novices' Hurdle and Punchestown Champion Novice Hurdle last term. Beaten three times by Macs Joy this season, so seeks revenge6 11-311 Essex (31) (D) (B P S Syndicate) M J O'Brien (Irl) 5 11 10 A P McCoyWon the valuable Pierse Hurdle at Leopardstown in January and followed up in the Totesport Trophy at Newbury.

"I think Back In Front will be the one, with last year's winner [Hardy Eustace] in second," Warner said yesterday. "I don't really fancy Harchibald, as I don't think he will go up the hill I wouldn't be worried about him I'm looking forward to it. The former had a hard race that January day, while Macs Joy goes into battle as a Cheltenham virgin.Essex has been deserted by his regular rider, Barry Geraghty, who rides Macs Joy instead, while Accordion Etoile appears about a stone below the requisite level.Still there should be an Irish twosome fighting out the denouement of the first feature of the great spring gathering. Back In Front will not be far away, but, at the height of the ceilidh, we will be raising our cups to HARDY EUSTACE (nap 3.15).

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