Melbourne Cup betting is the most popular form of horse racing betting in the whole of Australia. Each and every year thousands of spectators travel to the Flemington Racecourse to place a bet on some of the fastest horses in the world. If you’re keen to learn how to bet on the Melbourne Cup online, keep reading this page. Not only do we provide a list of the top-rated Melbourne Cup betting sites, but we also teach you how to bet on this prestigious horse racing event.
Best Melbourne Cup Betting Sites
How to Bet on the Melbourne Cup
With the Melbourne Cup being the most famous horse race in Australia, there has got to be a good number of Australians wondering about how to bet on the event. The following are a list of bets available to place on this prestigious event:
- Win Bet – this is equivalent to a moneyline or match result bet in team sports. Basically, punters just pick an overall winner for a single race.
- Place Bet – with this bet, punters attempt to predict who will finish in the race’s podium position. Depending on the nature of the place bet, horses either need to finish in specific positions or in any random order.
- Each Way – these bets are similar to double chance bets. Basically, punters can collect winnings on win bets and/or place bets depending on how the horse performs in the race.
- Head-to-Head – these bets aren’t based on a race’s result but rather in what order two horses finish the race in. Basically, with these bets, a punter predicts that one horse will beat another horse.
- Live Betting – these are bets made on live horse races. Punters need to keep a keen eye on the actual race if they are going to place these bets.
- Futures/Outrights – these are bets made on the Melbourne Cup far in advance. The risk is higher when placing these bets thus the odds are greater, which means better payouts.
- Exotic Bets – these are a number of different bets made on multiple horses to finish either is a specific order or in a number of positions but in a non-specific order. These include quinellas, exactas, trifectas and quaddies, among others. To learn more about them, head over to our horse racing betting page.
Melbourne Cup Betting Tips
It is very difficult to provide tips on the Melbourne Cup long before the event actually takes place. The reason for this is due to the changing competitors along with the handicap conditions and international horses also being allowed to enter the race. Thus, we will only feature very general tips down below:
- Bet on Past Winners – in the last decade or so, all but one Melbourne Cup winners came off a top four finish in a previous race. If you’re looking to make a successful bet, we suggest researching a horse’s performances in events leading up to the Cup.
- Pay Attention to Other Big Races – the best way to find good horses to bet on is to watch other big races to see which horses stand a good chance of doing well. This includes events such as the Caulfield Cup and the Cox Plate.
- Don’t Be Afraid to Place Exotic Bets (If You’ve Done Your Research) – many punters tend to shy away from taking big risks with exotic bets in horse racing, but we say that they should not be afraid of doing so provided that they have done the research. These bets pay out very well so you should have a good look at them.
For the best Melbourne Cup tips, be sure to check out our blog near derby day. We are sure to divulge some good info that may have you making better wagers.
Melbourne Cup Odds Explained
Sportsbooks calculate odds on the Melbourne Cup by looking at several different factors, including the race overall, the weight of the horse and the barrier numbers, among many more. (These are also factors that punters will need to look at when making bets).
Aussies sports betting sites will always display odds on a particular horse using the decimal system. This means that a decimal number will appear next to the horse’s name in the following manner:
Cross Counter (15.00)
To calculate how much you stand to win by placing this bet, all you need to do is multiply your stake by the decimal. For example, in this instance an AU$200 bet on Cross Counter will win a punter AU$3000.
Always remember to shop around for odds before placing a bet. Ultimately, the better the odds a sportsbook provides, the bigger your winnings. So, don’t do yourself in by not looking around for the best sportsbook.
Last 10 Melbourne Cup Winners
|2018||Cross Counter||Kerrin McEvoy||Charlie Appleby|
|2017||Rekindling||Corey Brown||Joseph O’Brien|
|2016||Almandin||Kerrin McEvoy||Robert Hickmott|
|2015||Prince of Penzance||Michelle Payne||Darren Weir|
|2014||Protectionist||Ryan Moore||Andreas Wohler|
|2013||Fiorente||Damien Oliver||Gai Waterhouse|
|2012||Green Moon||Brett Pebble||Robert Hickmott|
|2011||Dunaden||Christophe Lemaire||Mikel Delzangles|
|2010||Americain||Gerald Mosse||Alain de Royer-Dupre|
|2009||Shocking||Corey Brown||Mark Kavanagh|
|2008||Viewed||B Shinn||Bart (J.B.) Cummings|