The Melbourne Cup is the biggest prize in Australian thoroughbred horse racing, always run on the first Tuesday in November at Flemington Racecourse in Melbourne. It is the biggest betting event of the year in Australia, attracting millions of bets from around the globe across all of the top horse racing betting sites.
Melbourne Cup commentator Matt Hill - who spoke to Gambling.com for Episode 3 of The Knowledge Podcast - explained how he has to "concentrate so much more" than usual due to the number of people watching, which should give you a good idea as to the magnitude of this race.
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The Melbourne Cup has the same betting options as other major races, like the Gold Cup at the Cheltenham horse racing or the Grand National. These three types of bets are the most common wagers placed each year during the Melbourne Cup festival:
The odds in the Melbourne Cup are presented to Australian bettors 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, bettors 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 betting sites 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 bettors too.
Consider these points when plotting your horse racing betting strategy.
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 on the first Tuesday in November each year - a day designated as a national holiday.<
More than 200,000 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 159-year history, only five horses have won the Cup more than once, Makybe Diva holding the record of three.
|2020||Twilight Payment||25/1||Jye McNeil||Joseph O’Brien|
|2019||Vow And Declare||10/1||Craig Williams||Danny O’Brien|
|2018||Cross Counter||8/1||Kerrin McEvoy||Charlie Appleby|
|2017||Rekindling||14/1||Corey Brown||Joseph O'Brien|
|2016||Almandin||10/1||Kerrin McEvoy||Robert Hickmott|
|2015||Prince of Penzance||100/1||Michelle Payne||Darren Weir|
|2014||Protectionist||7/1||Ryan Moore||Andreas Wohler|
|2013||Fiorente||6/1f||Damien Oliver||Gai Waterhouse|
|2012||Green Moon||19/1||Brett Prebble||Robert Hickmott|
|2011||Dunaden||15/2||Christophe Lemaire||Mikel Delzangles|
|2010||Americain||12/1||Gerald Mosse||Alain de Royer-Dupre|
|2009||Shocking||9/1||Corey Brown||Mark Kavanagh|
|2008||Viewed||40/1||Black Shinn||Bart Cummings|
|2007||Efficient||16/1||Michael Rodd||Graeme Rogerson|
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