Melbourne Cup: A Betting Guide
Australians are known to have a great and undying love for sports. They’ve incorporated sports into their culture, and one of the most popular sports is horse racing. Notably, the Melbourne Cup race attracts not only Aussies but also a wide audience from different parts of the world. In fact, approximately 700 million people watch the Melbourne Cup.
In addition, the Melbourne Cup race is referred to as the race that stops the nation since most people close their businesses for most of the day, with most Australians placing their bets on their favourite horses. If you’re looking to cash in on this opportunity too, here’s a simple guide to Melbourne Cup betting.
How to bet on the Melbourne Cup
Online betting is one of the most common and convenient ways of betting on the Melbourne Cup. Unlike buying physical tickets, you don’t need to queue for long, but you can do it in the comfort of your home. Here’s how to go about it:
• Choose a reliable online bookie site: Various online sites are available for placing your bet. However, not all sites are trustworthy. Do your research and select the website that best meets your needs. Reliable sites generally feature a user-friendly interface, various deposit and withdrawal methods, and great odds.
• Sign up for an account: The next thing you need to do is create an account. This shouldn’t take a lot of time. You’ll have to enter information, like date of birth, email address, name, and mobile number.
• Deposit your money: For you to be able to bet, you need to deposit some amount of money into your account. Ensure the site you choose accepts the payment method you’ll use.
• Place your stake: The final step is to study the market, choose your odds, and lastly, place your wager. You can review past Melbourne Cup full results to determine which horses have higher chances of winning. Moreover, take the time to understand the race and weights. Since the Melbourne Cup is a handicap race that includes a long distance, with over 3,200 metres, horses that are heavier usually struggle. So, previous winners of the event boasted a weight of 53 kilograms or less. For example, at 52 kilograms, Makybe Diva won her first Melbourne Cup.
Aside from analysing the market and past results, subscribe to a channel like this one to gather helpful information about the fastest horses and make a safe bet.
Overall, betting online is more straightforward; you can use any device and bet from anywhere as long as you’re connected to the internet.
Melbourne Cup Favourites
Melbourne Cup favs are the horses with high chances of winning the race. Usually, bookmarkers allocate the least odds to these horses. To identify a popular one, look for an F alongside the odds of the favourite horse. But if you see a JF, this means joint-favourite; it implies that the horses with labels have the same probability of winning.
However, don’t rely so much on favourites. This is because it isn’t always a guarantee that they’ll win. According to previous records, only 34 out of 150 favourites emerged as winners. This represents 23% of the total number. The 2022 Melbourne Cup favourite is Deaville Legend. One of the best ways to bet on favourites is through exotic bets, where you can select more than one horse.
Alternative Melbourne Cup wagers
Instead of betting on an outright winner, you can stake on an array of alternatives. Below are some Melbourne Cup alternatives:
• Each way: In each way betting, you have two betting options. You’ll win your stake if the horse you choose becomes the first or finishes within the place positions indicated by the bookmark.
• To place: For your bet to be successful, the horse you choose must finish within the place positions. Most bookies classify the place positions within the top three.
• Accumulator: An accumulator bet involves several selections merged into one wager. It pays more compared to when you bet separately. However, for you to win, your predictions must be accurate.
• Extra place: This is a safer bet you’d want to try. Unlike place bets where the horse you pick must be within the first three positions, you can win in extra places if your horse finishes in the top 5 positions.
Melbourne Cup order of entry
The Melbourne Cup order of entry is a list of all the participants according to their eligibility. Normally, connections nominate their horses for the race. In 2022, 186 horses were nominated. After nominations, handicappers evaluate and allot every nominee a weight according to their previous performance and handicap rankings. After this, the chief handicappers create an order of entry rating every horse from the first to the last, depending on their probability of making it to the final list.
As of October 24, 2022, the list contained only 34 horses. The number of horses participating in the race is 24, so the final list will be generated after the last Saturday of the race day. Therefore, you can use this list as a gambler to determine the horse that’ll likely win.
Conclusion
The Melbourne Cup race is thrilling, especially if you’ve placed a bet on a horse. For higher chances of winning, you need to familiarise yourself with the betting process and learn the various bet types. With valuable information, you can devise betting strategies, make more accurate predictions, and eventually win big.
