Hot Cash

The horse's sweet spot is clearly in races run over 7 furlongs to a mile. In just 3 races at that trip, he has won twice — that is a 67% win rate, which is a genuinely striking number. Most horses manage 10–20% across their career; winning 2 from 3 at your preferred distance suggests Hot Cash is not just occasionally competitive at that range, he is a different animal altogether when conditions suit him.

His first win came at Epsom Downs in July 2024, a track with a famously tricky downhill camber that catches many horses out. The fact he won there on debut is a detail worth filing away. His most recent win came at Carlisle in June 2025, now 11 months ago, and recent form reads 2-15-4-5-6-5 — that second place his best result in the last six outings, with nothing better since that Carlisle victory.

What makes Hot Cash genuinely intriguing, though, is the bigger picture his trainer has sketched out. Channon has described what sounds like an ambitious trajectory: a first win at Epsom, a fourth place in a Group 3 race in France, and what sounds like an exploratory entry in the Derby. That is a long way from the Class 4 races where Hot Cash has done most of his winning — two wins from five races at that level, a 40% win rate that is excellent for the grade. Whether he can step up to the very top tier remains the open question, but Channon's language is notably optimistic: "very excited" is not something trainers say lightly. Hot Cash raced just one day ago, so the team clearly feels he is ready to keep building.