The 11-year-old lifted the Classic Chase at Warwick in January but failed to back up that success when only fifth in the Eider Chase at Newcastle last Saturday.
Trainer Neil King offered no excuses for his defeat and could now head for the four-mile-two-furlong feature in search of recompense.
He said: "There were no hard luck stories or excuses in the Eider Chase. He ran his race. He had gone up a few pounds and it was a better race. He got into a lovely rhythm out in front again, but he was just not quite good enough.
"He has been entered for the Midlands National, where he was second two years ago, and obviously the only other race to think about on the radar is the Scottish National."
Milansbar is one of 65 entries for the Midlands National with the Harry Fry-trained American and Venetia Williams' Yala Enki two of the headline acts.
Eider hero Baywing has been entered by Nicky Richards while the 2017 first and second, Chase The Spud and Mysteree, are in contention once again.
Welsh National winner Raz De Maree has been given the option by Gavin Cromwell while Noel Meade has four contenders in Bonny Kate, Tulsa Jack, Wounded Warrior and Une Lavandiere.
Mouse Morris has also made two entries in Rogue Angel and Thunder And Roses.
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