Grey Shot earned a top priced quote of 16 to 1 for the Smurfit Champion Hurdle next March following his victory at Cheltenham yesterday afternoon.

And the success for the Ian Balding-trained grey proved timely for winning jockey Jamie Osborne as he smashed his left wrist at the corresponding meeting 12 months ago.

Hills went 16 to 1 about Grey Shot's chances of lifting the hurdlers' crown, while Corals quoted the gelding at 14 to 1 and Ladbrokes were two points shorter at 12's.

Osborne steered Grey Shot around the wide outside for most of the race, making much of the running before seeing off the persistent challenge of lightly weighted Tyrolean Dream by a couple of lengths for the Murphy's Draughtflow Hurdle.

Balding was understandingly pleased with the victory, saying: "He was very good there. Jamie and I hatched a plot to go wide all the way but a few of the others had the same idea.

"He's not far off the top class now and I think handicaps are out. He'll have one more race before Christmas and then come back for the Kingwell Hurdle at Wincanton in February before the Champion.

"A lot can happen between now and then but on the right ground he would be a real contender in March but I don't think he could beat Istabraq on soft ground."