Sports Betting Guide to Melbourne Cup Betting 2023
Hosted annually by the Victoria Racing Club, the Melbourne Cup is one of the world’s most prestigious equestrian events. This classic horse race is known as “the race that stops a nation”, and attracts horses and riders, spectators and punters from around the world.
Melbourne Cup betting makes for Australia’s biggest betting pool, no doubt due to the horses’ quality handicap, as well as the presence of international riding legends. For many years, the only way to place Melbourne Cup bets on this race was to visit the local bookmaker or have a friendly bet going among friends or colleagues.
Punters can now enjoy the convenience of placing real money wagers on this horse racing calendar highlight at these top sports betting websites recommended for Australian players.
When it comes to Melbourne Cup betting, punters often find that the Melbourne Cup betting odds can vary from one betting shop to another, while online betting sites will often match the best Melbourne Cup betting odds for a certain horse.
Best Melbourne Cup Betting Odds
| # | Site | Bonus | Bet | |||
|---|---|---|---|---|---|---|
| 1 |  | Ladbrokes |  | 5/5 | 100% Match up to $250 | Bet now Review |
| 2 |  | Palmerbet | | 4.9/5 | 100% Match | Bet now |
| 3 |  | Picklebet | | 4.8/5 | Login to see promotions | Bet now |
This means that punters will receive the payout from the Melbourne Cup betting odds that offer the largest payout. These are usually Win bets, and are the ones most commonly placed by new and casual punters.
Other Melbourne Cup bets make for slightly more complex wagering, and are the perfect option for punters who take their Melbourne Cup betting very seriously.
Among these Melbourne Cup bets are Place bets, where a punter selects a horse to win in the money from second place onwards; Each Way bets, where a place and a win are selected; Exacta, where a punter selects the first and second place winners in order; Trifecta, where a punter selects the first, second and third place winners in order; and Quinella, where a punter selects the winner and second place, regardless of winning order.
Serious punters who bet on placers or winners in multiple races could win a fortune if they correctly pick the winners of two, three or four Cup races.
Another exciting betting opportunity presented by this great race is linked to the Caulfield Cup betting that Australian punters thoroughly enjoy. Its a major Australian horse race that takes place a month before the Melbourne Cup. Not only do these races offer some interesting double betting, but the Caulfield Cup can be a great indicator of how a horse might go on to perform in the Melbourne Cup.
Melbourne Cup Bet Bonus
The Melbourne Cup attracts the owners of the world’s best horses, and sees approximately 400 horses entered annually. The horses are then paired down, based on various factors such as previous race placements, the amount of prize money they’ve won, and their handicap weight.
There are also certain races that take place around the world, whose winners are guaranteed a spot in the Melbourne Cup, should their owners apply to run in the race.
It could certainly pay punters to familiarise themselves with the entered horses and their track records before getting down to real money Melbourne Cup betting.
Melbourne Cup Bets
Horse handicaps can add an interesting element to betting at these top Australian sports betting sites. For this race, standard handicapping has been modified to make for quality handicaps.
Top running horses of lesser weight than some other horses may be required to carry weighted ballasts, essentially putting all horses on an equal footing.
To enjoy online betting and more, all you need to do is open a punter account at these recommended Australian betting sites, and then fund it, using any one of a number of fast, safe banking options.