The Welsh National meeting at Chepstow on 27 December has been abandoned due to a waterlogged track.
Clerk of the course Keith Ottesen called a 12:00 GMT inspection on Christmas Eve following recent heavy rain.
And with further rain forecast he was left with little option but to call off the meeting.
The card, which was due to feature the Welsh National, will now be run on Saturday 5 January.
"We needed some periods of dry weather between the rain. It didn't rain yesterday, but we still wouldn't have been fit to race," Ottesen said.
"The Welsh National is one of the most testing races of the year and we have to make sure it is fair and safe to the horses, which it wouldn't have been."
"We have rescheduled for January 5 and the Finale Hurdle will now be worth an extra £5,500 as the value was due to move up from 2012 to 2013.
"All the details about entries for the Welsh National will be available as soon as possible."
It is not the first time the weather has affected the Welsh National meeting.
In 2010 the Welsh National was postponed by snow and was eventually run 12 days later and in 1994 the race was moved to Newbury on New Year's Day.
Last year's race went off without a hitch, with 10-1 shot Le Beau Bai winning by seven lengths.