What are the current best-value bets - and worst - for this year's Champion Hurdle?

Best Value:
Take out the current ante post favourite Binocular and this year's contest looks wide open, so there's plenty of scope for backing one each way at a big price and I'm drawn to Noel Meade's MUIRHEAD at a tasty 25/1 (Ladbrokes).

Backing one of Noel Meade’s in the Champion Hurdle might seem like madness when you consider the heartache that ante post backers of his runners have had to endure down the years. They must still be having nightmares over Harchibald, who looked all over the winner in 2005 when cruising up alongside the hard-ridden Hardy Eustace, but somehow managed to grab defeat from the jaws of victory? Two years later, his Iktitaf was travelling like a surefire winner before crashing out at the third last, so it's safe to say he’s due a change of luck and Muirhead could be the one to provide it.

I might be talking out of my pocket but I'm convinced he would have beaten Brave Inca in the Irish Champion Hurdle last time out had Barry Geraghty kicked on in the straight when his horse clearly had the upper hand. Perhaps he was riding to instructions and wanted to hold on to his mount for as long as possible in the desperate ground? Still, at least that race told us that Muirhead handles extremes of going, like all good horses, and he gives me the strong impression that he wants a faster pace, a large field and an uphill finish - all of which he will get at Cheltenham. And considering that was only his sixth start over hurdles, there's surely more to come from this exciting hurdler.

Of the rest, 2007 winner Sublimity has his limitations but he will surely be trading shorter than his current 16/1 (Stan James) coming down the Cheltenham hill, so is one for back-to-lay punters, while the current 14/1 (bet365) on last year's winner Katchit would look generous if he can repeat his win in the Kingwell Hurdle. But that's a big if.

Click here to back Muirhead at 25/1.

Worst Value:
Current ante post favourite Binocular is way too short in my opinion. Granted, he’s won both his races this season and you can’t fault his jumping technique, but he beat trees first time out at Haydock and, if anything, he was coming back to Celestial Halo at Ascot last time. At Cheltenham, he is going to have to gallop for at least another 20 seconds on good to soft ground (the best scenario), which is going to make life difficult for a speed horse like him. He's a lay at the current 2.64 as I can't see him being much shorter on the day.

Click here to lay Binocular.