Kauto Star - out for the season (Getty Images).

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Ulaan Baatar is the new 6/1 (from 8/1) favourite with Coral for the Arkle Chase following the news that previous market leader Kauto Star has been ruled out for the season.

"Kauto Star was one of the best-backed horses in our Festival ante-post list, and his absence will cost punters a six-figure sum," said Coral spokesman David Stevens.

Totesport spokesman Damian Walker added: "This really is a huge blow for ante-post punters as Kauto Star was totesport's third worst ante-post Cheltenham loser behind Back In Front in the Champion Hurdle and Beef Or Salmon in the totesport Gold Cup.

"It's not just the singles that have gone west for many punters but all the ante-post Cheltenham doubles, trebles and accas as Kauto Star was seen by many as an early Festival banker."

William Hill also make Ulaan Baatar their 6/1 favourite followed by 7/1 chance Cloone River.