Constitution Hill’s Cheltenham Festival absence has left bookmakers fearing an avalanche of cash on State Man, with Willie Mullins’ star two-mile hurdler now the overwhelming Unibet Champion Hurdle favourite.

Nicky Henderson’s defending champion obliged as the 4-11 favourite on the opening day of the Festival 12 months ago and was expected to do the double – especially after showing his well-being at Kempton on Boxing Day in the Christmas Hurdle.

However, it was a different tale when next sighted at the Sunbury venue, where a disappointing gallop kick-started a chain of events that has seen State Man ultimately promoted to big-race favourite on the news the Seven Barrows superstar will be missing from the action in the Cotswolds.

BoyleSports are expecting State Man to also take Constitution Hill’s place as the cornerstone of many punters’ multiples for the Festival, describing the 10-time winner as the ‘Irish banker’ of the week.

“It looks like State Man will be the Irish banker for this year’s Cheltenham Festival,” said BoyleSports spokesman Brian O’Keeffe.

“He is now the shortest-priced favourite over the four days of the meeting after Constitution Hill was ruled out of the Champion Hurdle by Seven Barrows.

“State Man isn’t a bad result quite yet, Constitution Hill had him well covered last year and most punters weren’t expecting anything different this year.

“We are expecting momentum and liabilities to start building behind him now pretty rapidly, especially if Ballyburn goes for the Supreme, as punters will likely latch onto the short-priced Willie Mullins treble on Tuesday, with Lossiemouth in the Mares’ Hurdle.

“It could be a long week for us if Tuesday doesn’t go our way and we imagine that State Man will be an accumulator maker or breaker for a lot of people across the four days.”

The only time State Man has tasted defeat in his last 11 runs was at the hands of Constitution Hill in last year’s Champion Hurdle and bookmakers are now in no rush to take him on.

Paddy Power are one of the firms taking no risks by installing him as their 1-3 market leader – one of the shortest-priced favourites of the whole week.

“It is desperately disappointing news for racing fans who wanted to see possibly the greatest hurdler of our lifetimes at Cheltenham,” said Paddy Power spokesman Paul Binfield.

“Hopefully we will see him back to his brilliant best sooner rather than later, but in the meantime State Man has taken his place at the front of the market as a very short-priced favourite and he now looks the one to beat – he has proven he is the best hurdler around bar one for the last couple of seasons.

“If there is any good news from today, then at least Paddy Power have been ‘Non Runner Money Back’ on the Champion Hurdle for quite a while, so at least punters will get their hard-earned cash back if they have backed Constitution Hill.”

Many layers are hoping something will emerge from the periphery to take on State Man, with Sam Boswell of BetVictor eager to see fellow Irish raiders Irish Point and Lossiemouth rerouted to the Champion Hurdle picture.

He said: “It is never nice to see racing lose one of its star attractions just days out from the Cheltenham Festival.

“The story of the Champion Hurdle now is not too dissimilar, with the fact we have a new but still very short-priced favourite in State Man from the all-conquering Willie Mullins yard.

“It would be nice to see the race have either stablemate and star mare Lossiemouth or Gordon Elliott’s Irish Point take their chance to make the showpiece on the Tuesday less processional.”