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Read our How to bet on the Melbourne Cup betting guide for a full overview of the Melbourne Cup. We’ll provide our best betting tips, how to pick a winner, a preview of the 2017 race and the best Australian bookmakers for betting on the Cup. Continue reading our How to bet on the Melbourne Cup guide below.
Melbourne Cup History
The Melbourne Cup is most known as the race that stops a nation in Australia. The race is run on the first Tuesday in November and is apart of the Spring Racing Carnival in Melbourne, Australia. It was first run in 1861 at Flemington Racecourse in Melbourne. The Melbourne Cup is a 3,200 metre race and is the richest horse race in the world at the distance. It’s officially a public holiday in Melbourne and the race attracts International exposure for Australian racing.
In 2015, the first female jockey won the race (Michelle Payne) and well-known Victorian trainer, Darren Weir finally won his first Melbourne Cup race. Makybe Diva is known as the greatest runner at the Melbourne Cup after winning in three straight years from 2003 to 2005. After Almandin won the 2016 Melbourne Cup, Lloyd Williams became the most successful owner at the Cup with 5 wins since 1981. The late Bart Cummings is easily the best trainer in Melbourne Cup history with 12 wins from 1965 to 2008. The next best is 5 wins between Etienne de Mestre (1800s) and Lee Freedman.
According to Wikipedia, the favourite has won the race in 34 of 150 attempts (23%). The form guides provided by Bookmakers or online websites is the best place to find a winner. Otherwise, if you’re not a racing, betting expert, almost every news or sports website in Australia will provide a betting preview of the race.
The form guide can be tough for a beginner to read but the best method for picking a winner on the Cup is looking at the distance record. The Melbourne Cup is a long race and the best winners are known for their records over the distance. Also, another betting tip is look for previous runners in the race as they will be more experienced. A good example in recent years is Who Shot The Barman who finished third in 2014 and fifth in 2016.
In the below section, we’ll provide a list of the most popular betting opportunities for the Melbourne Cup.
Win betting – The most basic betting type on the Melbourne Cup, simply pick the winner. In general, the win odds for the Cup are inflated as it’s a unique race with more International runners than usual. As well as a large field of around 22-24 runners. For example, the 2015 winner (Prince of Penzance) payed winning odds of around $80.
Place betting – A place bet is for the first, second or third runner in the race. This is the best bet type for an outsider as the odds will provide value.
Quinella – The Quinella is the selection of the first two runners after the post, in any order. Picking just two options will provide the best odds but will be a harder bet to win.
Exacta – Similar to the Quinella, the Exacta is also the first two runners but it must be picked in the exact finishing order.
Trifecta – The trifecta is the most popular betting option as it provides massive odds if successful. A boxed trifecta is the best option as it allows a choice of multiple runners. Whereas a fixed trifecta means the runners must finish in a certain order. The odds will be increased but a fixed trifecta is a very tough bet.
First Four – Select the first four runners in the Cup and get huge odds if successful.
Best Melbourne Cup bookmakers
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Ladbrokes – They’re are our second favourite betting option for the Cup and this is due to their massive range of betting products. The best bet types include: Best of the Best, MidTote + 5%, Best Tote or SP and TopTote. The best option is Best of the Best which will not be available 35 minutes before the race. It pays out the highest tote odds or the TopFluc, whichever is more.
William Hill – We would recommend William Hill as the best option for betting on the Cup for their racing, betting products. The main options are PricePump and DoubleDown. Using the PricePump on the Melbourne Cup would provide excellent odds for a single, fixed win bet. The PricePump is only available once per day so we would definitely recommend saving it for the Cup. While the DoubleDown feature allows for betting during the race and the ability for doubling the odds. The important note for the DoubleDown feature is it won’t be available for the full race, just around the first half.
Palmerbet – There are two main reasons for choosing Palmerbet for betting on the Cup, price boosts and better underdog odds. Palmerbet are known for creating price boosts for special events, such as World Cup finals or Tennis Grand Slams. We would expect them to offer increased odds for the favourite in the 2017 Melbourne Cup. The other reason is Palmerbet provide greater odds for the underdog. If you’re not backing the favourite in the Cup, finding a value runner will be easier at Palmerbet.
Melbourne Cup 2017 preview
The 2017 Melbourne Cup will take place on Tuesday, 7th November, 2017 at 3pm.
In the betting markets for the 2017 Melbourne Cup, Red Cardinal is the current favourite. He originates from Ireland and has won 5 of 9 career starts. He also has never finished outside the top three placings. The first Australian runner in the markets is Frontiersman but his current form has been poor (0-5 in 2017). He also has never won a race in 11 career starts. Francis Of Assisi is next in the betting and is another Irish runner. He’s won two of two races in 2017 and is showing impressive form for the Cup. After winning the 2016 Melbourne Cup, Almandin will aim to defend the title in 2017. He’s around the mid-priced favourites.
Thanks for reading our How to bet on the Melbourne Cup betting guide.