Veluti, ridden by Jem Mason, a rider who had previously won the race in 1839 was sent off as the 11/2 favourite to win while the top weight of 12 stone 8 lbs was given to Firefly, the mount of Larry Byrne.
This differed from the previous year in that a thorn fence had been installed in place of the wall jump at the distance chair in front of the stands.
The former fell and was quickly remounted while the latter was baulked and brought down by another passing horse, with jockey, Lee-Carter taking several kicks, one of which left him with a heavy facial wound.
Lancet's rider, William McDonough, was knocked from his horse by a mounted spectator as the field were turning to enter the race course proper and was badly bruised, Troubadour fell at a fence along the Canal side and Tinderbox was unable to negotiate the Table top jump at the Anchor Bridge crossing.
Perambulator led the field on the racecourse, having completely overpowered his rider, who did well to stay on board when the pair nearly parted company at the fence in front of the stands.
However, they still held a lead of many lengths over the Water jump, ahead of Veluti, Golden Pippin, Peter Simple, Major A, Switcher, Carlow and Culverthorpe, accompanied by the riderless Lady Gray and Lancet.
However, both lost ground to the new leader Peter Simple, who was passed by Cure-All approaching Becher's Brook for the second time, where Culverthorpe made a bid to win the race, opening up a good lead over Switcher, Veluti, Peter Simple and Eagle with Brenda and the remounted Mameluke both briefly coming into contention before fading.
Peter Simple and Cure-All were among those to realise they were beaten at this stage while Veluti was unfortunate to break down after jumping the penultimate hurdle.
As Pioneer drew up alongside Culverthorpe many of the Irish contingent in the stands began cheering, believing that his white silks were instead the straw colours of Switcher instead.
However most realised by the time Pioneer passed the post in front that it was the unconsidered outsider who had been victorious, Culverthorpe held off Switcher, Eagle and Firefly for the minor placings.