FOR the first time ever, we are behind going into Gold Cup day.

Teahupoo was my worst result of the week. After getting El Fabiolo and Envoi Allen beat, I put my head on the line with Teahupoo and that brought me back down to earth.

Then we had another great result in the mares’ novices’ hurdle, getting the two favourites beat, only for Inothewayurthinkin to land one of the all-time great J.P. McManus gambles in the last.

Backed from 5/2 to 13/8, the horse was 8/1 last week and ends up winning with a ton in hand. I said to my brother, Brian, that 20 years ago you would have laid one at that price for your life, but it’s a different ball game nowadays.

The racing is just not as competitive as it used to be. On Tuesday and Wednesday especially, it’s a case of damage limitation. The races are diluted and there are short-priced favourites everywhere.

Business has held up this year, though a fraction down on last year. We’ve seen an increase in euro bets, probably due to all the Willie Mullins-trained winners earlier in the week.

All the multiples involving State Man, Lossiemouth and Ballyburn were chinned when El Fabiolo got beaten, but we didn’t take any monster bets on the Champion Chase favourite. He was too short a price and the punters with multiple bets didn’t have to play in that race.

Heading into Friday, the two short-priced favourites in the Gold Cup and hunter chase will decide our fate.

KIM Muir winner Inothewayurthinkin was a tough result for bookmakers to swallow, says Peter Kingston, trader with online firm AK Bets.

“You kept thinking the horses had reached the floor price but then it would crash again and how right the punters were,” he said.

Business has been good for the firm with plenty of new accounts opened.

“The results were not great on Tuesday. I was a big fan of Gaelic Warrior so we kept him short, but you still had to lay it at 2/1. El Fabiolo proved a turning point on Wednesday, wiping out all the multiples.

“Friday will be the biggest day of all. We need to get Galopin Des Champs beaten and, as I speak, the betting on the Mares’ Chase is fascinating because Limerick Lace has replaced Dinoblue as favourite.”

Kieran Burke of Bar One Racing reported: “We’ve a lot of ante-post liabilities on Galopin Des Champs, so that will decide whether we win or lose on the week. Tuesday was a wipeout, Ballyburn was a big loser, but we got out of jail with El Fabiolo. Thursday was our best day so far, even with the heavily gambled winner of the last, which was costly. Overall, we’ve seen a good volume of turnover this week.”