Melbourne Cup 2018 Betting

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The Melbourne Cup is the crown prize of Australian thoroughbred horse racing. It is the biggest betting event of the year in Australia, even garnering punters from around the globe. The 2018 Melbourne Cup will run on Tuesday, November 6 (11 p.m. Monday Eastern Time) at Flemington Racecourse in Melbourne.

Only 24 horses can run in the Cup and all the entries are now in. For the past few weeks the strong favorite in the 2018 Melbourne Cup betting has been Yucatan. Here are the top five in the Melbourne Cup betting as post time on Tuesday approaches:

Melbourne Cup 2018 Favorites' Odds

HorseFixed OddsJockeyTrainer
Yucatan6.00 (6/1)James McDonaldAidan O'Brien
Magic Circle8.00 (8/1)Corey BrownIan Williams
Cross Counter9.50 (19/2)Kerrin McEvoyCharlie Appleby
Best Solution12.00 (12/1)Pat CosgraveSaeed Bin Suroor
Avilius12.00 (12/1)Glen SchofieldJames Cummings

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Betting the 2018 favourites? Here's a bit of info of each:

  1. Yucatan

    Yucatan, trained by Aidan O'Brien in Ireland, gets into the 24-runner field with a 5lb penalty, accrued by winning the Group 2 Herbert Power Stakes at Caulfield two weeks ago. The four-year-old is owned by Lloyd Williams, who has won the last two Melbourne Cups - six in total. Yucatan will again be ridden by Sydney's leading rider James McDonald and is no bigger than 5/1 to give O'Brien his first Melbourne Cup win.

  2. Magic Circle

    Magic Circle, trained by Ian Williams in Worcestershire, UK, has not run since winning a Group 3 by six lengths in May, but will have the services of last year's winning jockey Corey Brown when he lines up at Flemington. Brown was booked to ride the Chester Cup winner as far back as August.

  3. Cross Counter

    Cross Counter is also owned by Godolphin, who have four possible runners. He is trained by Charlie Appleby in Newmarket and ranks as one of the least-exposed Cup runners, having run only seven times in his short career. The three-year-old incurred a minor injury recently and missed one week of work, but was back on the track this week, cantering under his Melbourne Cup jockey Kerrin McEvoy.

  4. Best Solution

    Victory for Best Solution in the Melbourne Cup would be a fifth successive win this year, the Saeed Bin Suroor-trained runner having stunned Australia when winning the Group 1 Caulfield Cup on his latest outing. Handicappers decided not to increase his weight for the Melbourne Cup after that win, and he will be ridden by usual jockey Pat Cosgrave.

  5. Avilius

    Avilius is the among Godolphin's three guarateed runners, and the first home runner to feature in the Cup betting. Trained by James Cummings since April, Avilius has won four of his last five starts in Australia, including a Group 3 at Flemington - home of the Melbourne Cup. He will be ridden by regular jockey Glen Schofield.

Melbourne Cup 2018 Prize Money

Prize money for the Melbourne Cup has been above AU$6 million since 2010, with trophies valued at a staggering $250,000 dollars. Melbourne Cup prize money in 2018 totals AU$7million, the first 12 horses to finish awarded from that pool as follows:

  1. Winner - AU$4million (plus $250,000 in trophies)
  2. Second - AU$1million
  3. Third - AU$500,000
  4. Fourth - AU$250,000
  5. Fifth - AU$175,000
  6. Sixth - AU$150,000
  7. Sixth-12th - AU$150,000

The owner of each prize winner in the Melbourne Cup receives 85% of the prize money, with the trainer receiving 10% and the jockey getting 5%. There is a AU$500,000 bonus for the owner of the winning horse if it has also won the Irish St. Leger run the September prior to the Melbourne Cup, though the 2018 winner Flag Of Honour will not run.


How To Bet On The Melbourne Cup

The Melbourne Cup has the same betting options as other major races, like the Gold Cup at the Cheltenham Festival or the Grand National. These three types of bets are the most common wagers placed each year during the Melbourne Cup festival:

Melbourne Cup Odds Explained

The odds in the Melbourne Cup are presented to Australian punters in a different way. Each of the 24 horses running in the Melbourne Cup will be presented as a dollar amount. This means that if a horse is valued at A$5, every dollar you bet on that horse will return A$5 if it wins. To convert this into fractional odds, punters can split the A$5 payout into a profit of A$4 with a A$1 outlay. This would give odds of 4/1.

The best online bookies like to provide Melbourne Cup odds in this fashion as an alternative to fractional or decimal odds as it may be easier for a first time gambler to understand on the day of the Cup. Most online bookmakers will however provide all bets in fractional or decimal odds for more traditional punters too.


The Race That Stops a Nation

As mentioned above, Australia's Melbourne Cup is known to the locals as ‘the race that stops a nation’ and is the most coveted prize in Australian thoroughbred horse racing. It is a huge horse racing betting event, run in the early part of November each year - a day designated as a national holiday.

More than 100,000 eager bettors flock to Flemington Racecourse on the day of the Melbourne Cup. Offices across Australia stop work close to race time, and throughout the country it is televised on screens at local race tracks.

The Melbourne Cup reaches around 650 million people through its live television broadcast and over the course of the four-day Melbourne Cup Carnival, over AU$650 million is wagered - $350 million of that spent betting on Cup day itself.

Interesting fact about the Melbourne Cup:

In the Melbourne Cup's 157-year history, only five horses have won the Cup more than once, Makybe Diva holding the record of three. The 2017 winner Rekindled does not return for 2018, but owner Lloyd Williams is looking for a third straight Melbourne Cup win with betting favourite Yucatan.

Most Recent Melbourne Cup Winners' Odds

YearWinnerOddsJockeyTrainer
2017Rekindling14/1Corey BrownJoseph O'Brien
2016Almandin10/1Kerrin McEvoyRobert Hickmott
2015Prince of Penzance100/1Michelle PayneDarren Weir
2014Protectionist7/1Ryan MooreAndreas Wohler
2013Fiorente6/1fDamien OliverGai Waterhouse
2012Green Moon19/1Brett PrebbleRobert Hickmott
2011Dunaden15/2Christophe LemaireMikel Delzangles
2010Americain12/1Gerald MosseAlain de Royer-Dupre
2009Shocking9/1Corey BrownMark Kavanagh
2008Viewed40/1Black ShinnBart Cummings
2007Efficient16/1Michael RoddGraeme Rogerson

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