1925: Coral and Hills were also in high spirits after winning the battle against punters on day one.

Coral spokesman David Stevens said: "We are absolutely delighted - three more days like this will make our year.

"Amaretto Rose losing in the first set a precedent for the whole day and it was beaten favourite after beaten favourite.

"Detroit City winning would have been the worst result possible for us and even favourites Heads On the Ground and Gaspara have not taken the gloss off the day."

William Hill were also pleased and spokesman Ben Clarke reported: "The first four races were blinding results for us despite Sublimity being one of the largest ante-post gambles for a long time.

"Punters bounced back with the favourites winning the last two races but you have to say the bookmakers are ahead after the first innings."

1920: Ruby Walsh still retains his place at the head of the Top Cheltenham Jockey betting despite not actually having had a winner today.

But with two seconds onboard Brave Inca and Granit Jack, the Ditcheat-based jockey still looks in good shape to maintain momentum on Wednesday.

Kate Miller PR, for Blue Square, said: "Ruby Walsh still holds his place as 'Top Jock' favourite mainly due to the great book of rides he has tomorrow. With two very good mounts tomorrow with Denman and Mad Fish he could well be sitting pretty at the end of Wednesday's racing.''

Cheltenham Top Jockey: R Walsh 5/4, A P McCoy 5/2, R Thornton 6/1, M A FitzGerald 10/1, R Johnson 10/1, T J Murphy 14/1, B J Geraghty 33/1, P J Brennan 33/1, S Thomas 50/1, Andrew Glassonbury 50/1, N Fehily 50/1, N Carberry 50/1, 66/1 bar.

1720: Blue Square were also delighted with the opening day of the Cheltenham Festival.

PR Kate Miller said: "This was a fantastic start to the Festival for us.

"Although sad to see a poor performance by long-time Champion Hurdle favourite Detroit City, it was viewed with relief from the Blue Square offices having laid the grey to some shrewd punters at 25/1 after his Triumph win.

"My Way De Solzen's emphatic victory in the Arkle made it 1-1 between the layers and the players, and Heads Onthe Ground as favourite was also well supported, but with victories from Ebaziyan, Sublimity, and Joes Edge, it came good for us in the end.

"Day two will be very telling with us planning to take on Well Chief, Denman, and Aran Concerto and the mood could have significantly sobered by this time tomorrow!''

1700: Bookies have dominated their battle with punters on day one of the Cheltenham Festival.

David Williams, spokesman for Ladbrokes, said: "God was definitely a bookmaker today. There's no doubt we've drawn the first blood in the fiercest battle of the year and we could barely contain our cheers as the fancied horses got turned over. It was burster after burster in the big races and we were loving it!"

1650: Joe's Edge has been slashed to just 16/1 from 50s in Sky Bet's Grand National betting.

They have also clipped Demi Beau to 8/1 from 9/1 for the Grand Annual and cut Mighty Man to 5/1 from 6/1 for the World Hurdle.

1640: John Carr's Sublimity is 5/1 with totesport to repeat today's easy Champion Hurdle win in the 2008 renewal.

Spokesman Damian Walker said: "This was a seriously impressive performance and Sublimity rightly deserves to be favourite for next year. Runner-up Brave Inca will be a ten-year-old in 2008 and Hardy Eustace will be 11, while Detroit City may step up in trip or go chasing."

1630: After a convincing win for My Way De Solzen in the Independent Arkle Challenge at Cheltenham today, Sky Bet has introduced the horse as 7/1 to win the totesport Gold Cup in 2008.

Sky Bet's PR Director, Dale Tempest, said, "It is one of the most convincing wins we've seen in years in the Arkle.

"The Alan King horse definitely looks a potential Gold Cup winner. Therefore, we have decided to play it safe and keep him on our side by introducing My Way De Solzen at 7/1 to take the Gold Cup in 2008."

1625: Joe's Edge is 20/1 from 33/1 for the Grand National with Bet Direct following his thrilling success in the William Hill Trophy today.

1620: Blue Square have installed Sublimity as their 7/1 favourite for the 2008 Champion Hurdle, following his easy win at Cheltenham today.

Brave Inca, the winner in 2006 and runner-up this time around, is 10/1 to regain his crown, whilst the disappointing favourite Detroit City is a 12/1 shot.

Supreme winner Edaziyan is rated a 20/1 to win the 2008 Champion Hurdle, whilst Triumph Hurdle challenger Mountain is the same price.

Kate Miller, Blue Square's PR, said: "On the way he won today Sublimity fully deserves to head the market for the 2008 renewal.

"He is lightly raced and showed the benefit of an easy campaign by comfortably outspeeding his battle hardened rivals up the hill.

"It will be interesting to see what the Triumph throws up on Friday, but as things stand, Sublimity is the one to beat next March.

"The race result was fantastic for Blue Square, having laid Detroit City to lose well over £100,000 in ante-post and day-of-race trading."

1545: Stan James reckon today's Champion Hurdle winner Sublimity is a 7/1 chance to retain his title next season.

The Wantage-based firm have John Carr's gelding heading the market ahead of Arran Concerto at 12/1 and Straw Bear and today's vanquished favourite Detroit City on 14s.

Neil Morrice, media and on-course representative for the Wantage-based firm, said: "Sublimity is still young enough at seven to go on and win the race again although the market could see some upheaval if Arran Concerto is impressive in his race tomorrow.

"Remember Sublimity was beaten only three lengths by Straw Bear in last season's Supreme Hurdle and has readily turned round that form. But it remains to be seen what went wrong with Detroit City. He was backed as if defeat was out of the question but was never travelling, suggesting he might be wrong."

1525: Sublimity was the surprise 16/1 winner of the Champion Hurdle and has been given a 6/1 quote by Bet Direct to defend his crown in 2008.

1520: Stan James have introduced My Way De Solzen at 10/1 into its market for the 2008 totesport Gold Cup following his convincing success at Cheltenham today.

The Alan King-trained seven-year-old gained a second Festival triumph by storming up the hill to leave Fair Along and Jack The Giant toiling in his wake.

Neil Morrice, media and on-course representative for Stan James, said: "With his stamina assured, My Way De Solzen seems far more likely to be geared towards a Gold Cup tilt next season than stick to the Arkle Trophy distance of two miles.

"He looked strong throughout today's contest but as a World Hurdle winner the sky would appear to be the limit as far as stamina is concerned. It is hardly a vintage era for staying chasers and we believe 10/1 fairly reflects his chance of grabbing Gold a year from now."

Blue Square also go 10/1 and spokeswoman Kate Miller said: "This was a fantastic performance by a true Champion. Alan King stated that he was the best he has ever trained, and quite likely the best he ever will train, adding that he intended to train for a long time!

"Connections seem unsure as to which route he will now take, but even with a year to decide it seems that he is surely destined for even greater things."

1410: A shock result left the hallowed halls of Prestbury Park reeling when the 40/1 priced Ebaziyan took the opening Supreme Novices hurdle.

Bookmakers Blue Square reacted by quoting the Willie Mullins trained grey at 20/1 for the 2008 Champion Hurdle.

Kate Miller PR for Blue Square said: ''What a great result! After the enormous plunge on Amaretto Rose we were quaking in our boots to a certain degree after the wealth of confidence behind the jolly.

"The bookmakers have certainly got off to a flying start, but we still need Detroit City later on to make certain of a great start to the festival.

"The winner with the benefit of hindsight looked very unexposed and although it is no surprise to see W Mullins gracing the winners podium, it certainly wasn't expected so early on.''

1400: Buena Vista has been sliced to 10/1 from 12/1 with Blue Square to win the Arkle with Blue Square while Another Promise has been slashed to 25/1 from 40/1.

Fair Along and My Way De Solzen are still heading the betting and are both widely available at 7/2.

Blue Square have also reported more backing for Detroit City who is now backed down to 15/8 from 2/1 to win the Smurfit Kappa Champion Hurdle Challenge while Afsoun has moved in to 25/1 from 33/1.

Rambling Minster has been cut to 8/1 from 12/1 to win the William Hill Trophy Handicap Chase after more support today while Irish Raptor has come in to 20/1 from 25/1.

Heads On The Ground is 4/1 favourite ahead of Spot Thedifference (5/1) to win the Cross Country Handicap Chase but Never Compromise has been a significant mover with Blue Square to 10/1 from 12/1.

1145: Amaretto Rose has been backed down to 9/4 from 5/2 with Paddy Power to win the Supreme Novices' Hurdle after further support today.

Hide The Evidence has drifted to 7/1 second favourite with some bookmakers while Granit Jack has been chopped to the same price having started the day at 10/1.

Meanwhile Detroit City has drifted narrowly to 5/2 with Premier Bet to win the Smurfit Kappa Champion Hurdle with Hardy Eustace now as short as 11/4 with the firm having started the day at 7/2 with other bookies.

1020: Stan James have cut Straw Bear to 13/2 from 15/2 for the Champion Hurdle following early support for the Nick Gifford-trained gelding.

In what proved a predictably hectic first few hours trading Straw Bear was the only mover in today's Cheltenham feature.

Neil Morrice, media and on-course representative for the firm said: "With cut in the ground prevalent plenty of people reckon Straw Bear has a chance of reversing the Agfa Hurdle placings with Detroit City and he was the first of many movers on today's card."

Stan James have already cut four contenders for the Supreme Novices' Hurdle with De Soto in to 12s from 16s; Tipperary All Star 16s from 20s; Hobbs Hill 20s from 25s and Kalderon 22s from 33s.

Jayo has been the horse for money in the Fred Winter Juvenile Novices' Handicap Hurdle and is in to 11-1 from 16-1.

0945: Granit Jack has been cut to 8/1 from 10/1 with betdirect to win the Supreme Novices' Hurdle at Cheltenham today while Tyson has been slashed to 14s from 20s after strong backing this morning.

The same firm have shortened Faasel's odds to 20/1 from 25/1 to win the Arkle but Fair Along and My Way De Solzen are still joint 3/1 favourites.

In the William Hill Handicap Chase, Rambling Minster has been chopped to 9/1 from 11/1 in a field headed by Sky Bet's 5/1 favourite Little Brick.

betdirect have also seen support for Pouvoir who has been cut to 5/1 from 6/1 to win the Fred Winter Juvenile Handicap Hurdle.

0845: Brave Inca is available at 4/1 with Sky Betthis morning for the 3.15 Smurfit Kappa Championship Hurdle today but has been trimmed to as short as 3/1 with other bookies.

Hardy Eustace has also seen support this morning for the same race, forcing betdirect to cut the odds slightly to 11/4.

Amaretto Rose has been cut to 5/2 favourite with Paddy Power to win the Supreme Novices' Hurdle while there is still precious little separating 3/1 shots My Way De Solzen and Fair Along for the Irish Independent Arkle Chase.