AS recently announced by The Jockey Club, of which Cheltenham is part, race values across Jockey Club Racecourses will have an £8-million injection during 2018 and this includes the home of jump racing.
The impact starts straight away in 2018, with prize money on New Year's Day up by 23% to £260,000.
Also taking place next month is Festival Trials Day, on Saturday, January 27th, boosted to £354,000 - an increase of £24,000 (7%) on the 2017 level.
At The Festival itself - which in 2018 runs from Tuesday, March 13 to Friday, March 16 - there is also a seven percent prize money rise.
There is a new record total of £4,590,000 offered across the four days, with every day for the first time having over £1 million in prize money.
All the Grade 1 championship contests at The Festival have benefited.
G1 Unibet Champion Hurdle - now worth £450,000 (up from £400,000)
G1 OLBG Mares' Hurdle - now worth £120,000 (up from £110,000)
G1 Betway Queen Mother Champion Chase - now worth £400,000 (up from £350,000)
G1 Sun Bets Stayers' Hurdle - now worth £325,000 (up from £300,000)
G1 Ryanair Chase - now worth £350,000 (up from £300,000)
G1 Timico Cheltenham Gold Cup - now worth £625,000 (up from £575,000)
Simon Claisse, regional head of racing, Jockey Club racecourses South West & Clerk of the Course at Cheltenham, commented: "We are delighted to be able to offer increased prize money at Cheltenham over the next three months, with bigger prize funds on all racedays and at all levels of competition.
"The Grade 1 championship contests at The Festival have received timely boosts and the Timico Cheltenham Gold Cup, worth £625,000 in 2018, consolidates its position as the richest Grade 1 chase in Britain.
"These prize money increases will assist in attracting and retaining owners who put so much into jump racing and will also help support the strong jump bloodstock market, including the thriving Tattersalls Ireland Sales at Cheltenham.
"We will announce in due course the details of higher prize money for our racedays in April and May and the first part of the 2018/2019 season."
The increases at Cheltenham up to the end of March are:
New Year's Day. Monday, January 1st
2018 value - £260,000
2017 value - £212,000
Increase - £48,000 (23%)
Festival Trials Day - Saturday, January 27th
2018 value - £354,000
2017 value - £330,000
Increase - £24,000 (7%)
The Festival - Tuesday, March 13th to Friday, March 16th inclusive
2018 value - £4,590,000
2017 value - £4,305,000
Increase - £285,000 (7%)