Cheltenham chiefs will look at extending the Festival to five days on the back of record ticket sales.
Fans have snapped up admission badges quicker than ever for the event, which gets underway on Tuesday.
Attracting a crowd of around 250,000 people over the four days, racegoers missed last year's meeting due to coronavirus restrictions.
Only a small number of participants were on course to see the Henry de Bromhead-trained Minella Indo win the feature Gold Cup.
Irish-trained horses raced to a record 23 victories from the 28 races, while Rachael Blackmore became the first female to scoop the top jockey award.
For the first time ever, all of the general admission tickets for this year's Gold Cup day, on Friday March 18, were snapped up before the end of January.
Hospitality from £690 remains for the feature afternoon, while Thursday's standard entrance tickets have also sold out.
Limited availability remains for the Tuesday and Wednesday of the big week.
Ian Renton, Cheltenham's managing director, said the racecourse team will discuss the possibility of extending the meeting to five days.
The proposal has long been debated by members of the racing community.
"We certainly will explore the possibility because it's something that is talked about," Renton told the Racing Post.
"In due course, we'd like to explore the pros and cons, and talk to a wide range of people to garner their views. I'd expect us to do lots of market research and talk to participants and others in the industry.
"I want to do whatever is best for the future of the festival. I love it and would like to ensure whatever is done is in its best long-term interests.
"Many people would question why we would consider changing it when we have a successful four days, but we'd have to look at whether there is an alternative that could be even better."
Until 2005 the fixture was traditionally held over three days, but when a fourth was added, one championship race was scheduled for each afternoon.
Five new races were added to ensure the cards on Tuesday, Wednesday, Thursday and Friday had six contests.
Four extra races later boosted the number of races to 28 overall – and British trainers won just five of them in 2021.
Ruby Walsh, who retired with a record 59 Festival winners to his name, said earlier this week that he understands the "commercial value" of an extension.
“Ultimately, it comes down to a business decision," he said.
"I wouldn’t want them to have too many new races. However, I’m in the position where I am not paying to go racing. If you are paying to go in, do you feel short changed if there are six races instead of seven.
“There will have to be an awful lot of considerations made, but you have five championship races and you could have a feature each day on a five-day Cheltenham Festival and I don’t think it would be the worst thing in the world if the feature race was the last race of the day.”
Bet £10 on the Cheltenham Festival with Betfred and get £60 in free bets and bonuses
Racing enthusiasts against the idea have shared their views on social media.
One wrote on Twitter : "This is foolish to think it would make it better! The talk is of only adding two races to make it 5 days, this is not enhancing the product it’s merely getting an extra day tickets sales!"
While another claimed: "It won't, under any stretch of the imagination make it "even better". Whilst there's a huge appetite to return to the watch this year's Festival, no racegoer I know wants a 5-day meeting and most won't attend any day if an fifth one is added."
Racing TV is the only channel broadcasting every race live from the Cheltenham Festival, with two exclusive races each day. For a limited time, you can join Racing TV for half price for the Festival – just £12.49 a month for an entire year, with promo code "RTVCHELT50". Click this link for details
