The William Hill Trophy is the third race on the opening day of the Cheltenham festival.

The race will be as intensely fought as the first two contests of the day and there is value on the market whether backing a rank outsider or the favourite. The current favourite is a horse called Blazing Bailey with a good win record. The horse is 12/1 in most places on the market.

The second favourite is a horse called Bensalem, that has impressed with the manner of performance in recent wins. Bet365 offers cheltenham odds 14/1 on this horse, which may seem a little on the long side but is definitely worth an each way bet. The horse has a very solid winning percentage.

Great Endeavour is a horse that comes from a very solid stable and doesn’t have any future entries before Cheltenham. This means the horse will be in superb condition before the off and at 16/1 with Boylesports forms a very good bet at the present time. Great Endeavour was the favourite at one point but has drifted longer in price.

There will be punters looking for a horse that is longer priced to come through and upset the field. Ogee is one such horse that could make this a reality. The horse is currently 25s with Bet365 but this has shortened in from 40s over recent weeks suggesting that a good amount of money has been laid for the horse already.

King Troy is currently bottom of the betting market at 33/1 to win with Victor Chandler. The horse’s record is not abysmal and this suggests that there isn’t too much difference from front to back through the field. King Troy is worth a small each way bet because the odds for this will be very good.

I don’t read much into these things but David Pipe put up The Package (6/1 with Bet365) as his banker of the meeting at a preview evening in Ireland last week. Character Building has a very good Festival record having won a Kim Muir and should have won the NH Chase (second but wandered on the run-in).

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John Quinn has confirmed him for this race and has been backed across the board into fourth favourite, but I’ve never been one to consider Grand National-bound horses in this race as they are being trained for another day. I am sure he will be delighted if he finishes in the first six.

I am not having The Tother One, who is 16/1 with Bluesq, off top weight in a race where carrying a big weight is a big negative who is disputing fourth favouritism behind Theatrical Moment who I do have time for.

Jonjo O’Neill won this with a novice last season though he has other entries at the Festival and I noticed there was money for his stablemate Isn’t That Lucky, 20/1 with Betfred, who was mapped out to win the Jewson last season and finished second. He looks to have mapped out for something this season as well.

What have the Irish got, given they have won two of the last four renewals in which they have had a runner? Not a lot. Siegemaster, 16/1 with Sportingbet but I don’t trust his jumping plus he has enough weight.

So Casey Jones (16/1 with Bet365)  would interest me more off just 2lbs more than his Irish rating and he has been off since finishing fourth in a Grade 1 back in November. The long absence wouldn’t bother me, in fact, I would see it as a positive but he is rated 151, which would make him the highest rated winner for 28 years.

If Wichita Lineman jumps well I would respect him as I would Patsy Hall who came to win last season’s race but didn’t get home on the run-in but he is 4lbs lower this season.

Possol is likely to be very high on my trends patterns list but it does worry me he has lost his position on his last two starts before running on again.

Nenuphar Collonges won at last season’s Festival but I would be a bit worried about his jumping at 3m pace.