His horse is thought by some to be a flawed genius, but Clive Smith believes the big-race favourite can put his mistakes behind him and triumph on Friday

He admits to spending only two or three minutes a day when he isn't thinking about Friday, the day when jump racing's blue riband, the Cheltenham Gold Cup, will be won by one of the winter kings, that rare band of elite steeplechasers who have earned the right to line up among the best in the business.

Owning the favourite for the race is a unique privilege and a rare distinction, something thousands can only dream of, but for Clive Smith the dream has turned into reality courtesy of his enormously-talented steeplechaser Kauto Star. This gifted individual remains unbeaten this season, rattling off five straight wins, including the King George VI Chase at Kempton, but it is the manner of his nail-biting victories that have highlighted his brilliance as at times he has recovered from mistakes in jumping that would have put lesser horses out of the race.

For Smith, 64, the pressure is mounting but this is a man who hasn't missed a Cheltenham Gold Cup since Captain Christy's victory in 1974 and he intends to savour every minute of owning the favourite, a horse who has captured hearts and imaginations. Racing loves its heroes especially if that hero appears to have a flaw. Desert Orchid's Achilles heel was Cheltenham, a course he hated, yet in 1989 he overcame his dislike of the track to win one of the most memorable Gold Cups in history.

Kauto Star has some way to go before he will be compared to the "flying grey" but he is only seven and his favouritism for the race is fully justified. Possessing awesome talent, his displays of jumping are poetry in motion for keen watchers of the winter game, but he too has an Achilles heel as these masterclass performances have been interrupted by the occasional blunder that have proved inexplicable. It is testimony to his ability that not only has he remained on his feet, but he has recovered sufficiently to go on and win, an effort that cannot be over-estimated as jumping errors cause loss of momentum and valuable ground.

His nerve-wracking victories have had fans on the edge of seats and frustrated trainer Paul Nicholls, who describes the horse as schooling brilliantly at home, so it is all the more frustrating to know Kauto Star has the ability to win a Gold Cup but could lose it all with one momentary aberration, a mistake from which he might not recover so easily at Cheltenham.

Smith says his recent error at Newbury can be explained and we will see another horse on Friday. "He might have got confused at Newbury thinking he was going in another direction. He has made mistakes, maybe he gets buzzed up or panics, but he's only young and learning all the time."

Bred in France, Kauto Star was bought by Smith in 2004 for 400,000 which, although not exactly a snip, is relatively modest compared to the telephone-number sums required to purchase an equivalent high flyer on the Flat and he has already won more than he cost, a rare achievement for racehorses.

Described by some armchair jockeys as a flawed genius, Kauto Star has run at Cheltenham only once, in last year's Champion Chase, run over two miles, when he fell at the third fence having taken off too early, blinded by the low sun. That error was easily explained but his occasional decision to "bank" his fences, which clearly seems a good idea to him at the time, may prove disastrous around Cheltenham's unforgiving track and this time his superb balance and strength might not be enough to save him.

But Smith is quietly confident his horse can keep it together on Friday. "He is such a fantastic jumper and so marvellous to watch, with the strength and athleticism of a male ballet dancer. His errors don't happen at home as he always schools so well and Paul Nicholls has had him jumping all sorts of things to try and help him.

"Our biggest concern now has to be the going as it would be a real worry if it is testing coming up that hill."

Nicholls has refused to be drawn on jumping tactics but Smith says jockey Ruby Walsh is likely to "keep him handy and up with the pace", adding that his horse couldn't have a better pilot.

Good horses become public property and as the weeks have past Smith has been besieged by the media, with every request for an interview and comment dealt with in a courteous, quiet manner reflecting his role as very much the supporting cast to the star of the show - his intriguing, enigmatic champion elect of whom it is said, the best is still to come.

Smith's love and pride in Kauto Star is evident in his keen desire to share him. "I went to the bank today," he revealed, "and the cashier said she watches all his races and said she feels as if he belongs to her. That's what I want, for people to feel he's their horse too."

So it's no surprise that Smith plans to watch the race in front of the Grandstand, down on the tarmac among the heaving mass of jump racing's biggest fans, paying homage to the equine Olympians as they face Cheltenham's gruelling uphill finish.

"I want to be there, to really feel part of it," he says and though he admits to being nervous, he says he won't have his eyes closed. "I get nervous watching all my horses jump but I do actually watch."

Tomorrow, Smith sees his superstar for the last time before the big day and he is sure to have a quiet moment to reflect on the rollercoaster ride this horse has given him and wish him safely home on Friday.

Kauto Star has the ability to win a Gold Cup and if he jumps the last safely and is up with the leaders his fans will raise the roof from the Grandstand and Smith will be cheering the loudest. "He's an outstanding talent and I honestly believe he can do it."