Princess Anne's daughter and her husband - Zara and Mike Tindall - were also seen at the races and model Lystra Adams was among the celebrities spotted at the event.
The rain made for muddy conditions, with jockeys ending their races covered from head to toe in mud.
Below we've compiled some of the best pictures from the day's racing...
Zara Tindall during day two of the Cheltenham Festival Credit: PAPresenters Eamonn Holmes and Isabel Webster during day two of the Cheltenham Festival Credit: PAReal Housewives of Cheshire's Lystra Adams arrives during day two of the Cheltenham Festival 2022 Credit: PAThe Princess Royal shelters from the rain before the Brown Advisory Novices' Chase Credit: PARacegoers during day two of the Cheltenham Festival Credit: PADay two of Cheltenham Festival was a wet one - but sunshine is due to return for the rest of the week Credit: PAJockey Nico de Boinville and I Am Maximus (left) covered in mud after the Ballymore Novices' Hurdle Credit: PAA muddy Nico de Boinville following the Brown Advisory Novices' Chase Credit: PARacegoers braved bad weather during day two of Cheltenham Festival Credit: PARacegoers during day two of the Cheltenham Festival Credit: PARacegoers react to the Ballymore Novices' Hurdle during day two of the Cheltenham Festival Credit: PADay two of Cheltenham Festival is Ladies Day, famous for glamorous outfits. Credit: PAGlamorous and colourful outfits balanced out the grey weather on day two of Cheltenham Festival Credit: PARecord numbers of people are set to attend the four-day event this year Credit: PARacegoers during day two of the Cheltenham Festival Credit: PA