Bookmakers Betfred and Oddschecker have pledged to donate to both the Royal Manchester Children’s Hospital (RMCH) and the Injured Jockeys Fund (IJF).
Betfred owner Fred Done will be donating all profits made from day one of Cheltenham to charity.
Betfred will give a minimum of £100,000 to the RMCH appeal to fund a £4million state-of-the-art intra-operative Magnetic Resonance Imaging scanner.
The scanner will be used to help treat children with conditions ranging from brain tumours, traumatic brain injuries, problems with the central nervous system and epilepsy.
In a statement, Done said: “We will be donating all the winnings from the first day at Cheltenham to this important charity.
“At Betfred, we are committed to supporting the children’s brain scanner appeal.
“We have guaranteed a minimum of £100,000 and no maximum.”
Fellow bookmaker Oddschecker will be donating 5p for EVERY single bet placed on Cheltenham Festival to the IJF, with the fund helping over 1,000 jockeys and their families with charitable assistance.
Since its establishment in 1964 the IJF has paid out over £18million in charitable assistance, now being supported by racing royalty such as Ed Chamberlin, Oli Bell and Tom Stanley.
When speaking to Oddschecker, ITV Racing presenter Ed Chamberlin said: “What an honour, what a big responsibility for me.
“I’m thrilled about it, it’s lovely to be able to give something back.
“Anyone who loves their racing has such a debt of gratitude to the brave and hardy souls who ride these horses.”