Racegoers fed up with seeing a swathe of red-hot favorites stumbling at the last fences this week have instead started to wager on the weather. So far a spate of odds-on favourites like Majborough and Constitution Hill on Tuiesday, and Ballyburn and Jonbon on Wednesday have flattered to deceive – leaving punters crestfallen.

Wednesday morning the Gloucestershire course woke to a snowstorm leaving a thick layer of powder – the first time since 2013 the Cheltenham Festival has seen snow. Now bookmakers are claiming punters are having a flutter on more shocking weather to dampen their spirits – with Ladbrokes offering odds of 6/4 for snow to also blitz the track Thursday and Friday.

Alex Apati of Ladbrokes said: “It’s been more Chilltenham than Cheltenham up to this point!

“The odds suggest there’s ‘snow way’ we’ve seen the last of the white stuff this week.”

Temperatures in Cheltenham had plunged to 1C (33.8F) overnight and by 8am as the Daily Express team arrived early to inspect the course the mercury had only risen to 2C (35.6F).

It was a nightmare for racegoers dressed to the nines for Style Wednesday, as they had to wrap up warm, and arrived carrying umbrellas instead of clutch handbags.

It last snowed at Cheltenham in 2013 when temperatures fell to -11C (12.2F) and organisers had to cover the racecourse in 45 acres of plastic sheets.

The Met Office predict Thursday at Cheltenham will see highs of 7C (44F) – although icy winds mean it will feel like 4C (39F) – with light showers.

While Gold Cup day on Friday will be the same temperatures with scattered sunshine and showers.