Melbourne Cup Betting Odds – The Need-To-Know 2023 Guide

Anyone with an interest in sports betting will want to follow the Melbourne Cup. This is one of the biggest horse racing betting events in the world, with millions of views every single year. Australians, in particular, are some of the most prolific punters in the industry, and most of them set their sights on the Melbourne Cup.

Keep reading this Melbourne Cup guide to find out what the horse betting event represents, as well as the many Melbourne Cup horse racing betting opportunities that are up for grabs. Get ready to experience the thrill of Melbourne Cup betting online.

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Understanding Melbourne Cup Betting

The Melbourne Cup always takes place on the first Tuesday of November every year. The lead-up to the Melbourne Cup is an extremely busy time for punters who want to start making the most of the sports betting options for horse racing on the market.

Taking place over a distance of 3200 metres, the Melbourne Cup is run at the Victoria Racing Club on the Flemington Racecourse. Both of which can be found in the city of Melbourne. First held as far back as 1861, the Melbourne Cup has become a staple within the horse racing world.

It has also been home to many of the greatest runners we’ve ever known. Runners need to be at least three years or older to be able to participate in the Melbourne Cup. There is also a minimum handicap of 50 kg, and the top allocated weight is not allowed to be less than 57 kg. Weights are adjusted throughout, with older horses tending to carry more weight than young runners.

In terms of Melbourne Cup betting, there are many different wagering opportunities and multiple markets. Australian horse betting punters will come across the usual win, place, trifecta, and quinella bets, but there are also exotic and complex wagers on the table. It’s up to the punter to carefully choose a series of bets that matches their play style as well as their budget.

The easiest and most convenient way of accessing Melbourne Cup race betting is through the vast array of online bookmakers. There are dozens to choose from but aim for bookies that have a good reputation. The kind of sportsbook that you want to sign up with will offer the following:

  • LICENSED: A trusted, licensed online sportsbook with many different features.
  • REPUTATION: A solid reputation as well as good reviews from other punters.
  • OPTIONS: A great choice of Melbourne Cup betting options for Australian punters to enjoy.
  • SUPPORT: Around-the-clock customer support that will quickly and efficiently attend to any queries that you may have.
  • LIVE: The ability to engage in both streaming as well as live betting. Live betting has become increasingly popular in recent years and is worth giving a try!

How To Research Horses And Jockeys

Every year, the Melbourne Cup hosts a number of the world’s best horses, jockeys, and trainers. The biggest names in both Australia as well as the rest of the world come to participate in this special event. It also makes it a prime opportunity to put your detective skills to work and do the necessary research to help you make more well-informed decisions for the Melbourne Cup horses that are taking place.

The following represent the research topics that you will want to keep in mind when learning about the runners you wish to wager on.

Review Track Conditions

The Melbourne Cup takes place in a part of the world where it can be quite dry. Runners that come from different parts of the country may battle to deal with the different climate. It’s easy to take for granted how much the Melbourne Cup field conditions can affect a runner’s performance. Flemington Racecourse has been the track for the Melbourne Cup for many years, and it’s worth your time to read up on its history and how it can affect performances.

Understand Horse Pedigree

As a Melbourne Cup betting enthusiast, you will likely have a good idea of how horse pedigrees work. Pedigrees and bloodlines play important roles in the success of a runner. Runners that come from prestigious stock are more likely to perform better when given the chance. Make sure to read up on the various pedigrees that will be taking part in the upcoming 2023 Melbourne Cup.

Analyse Recent Performance

Historical information is a powerful weapon for Australian horse betting punters who want to win with Melbourne horse racing. The information you need is never more than a few clicks away, but it does help to have a notebook at the ready. Take note of how runners performed in their most recent events. Before long, you will begin to spot trends that are unique to each horse and jockey. It’s these trends that will provide you with a baseline for your Melbourne Cup betting.

Melbourne Cup betting is something of an art, and it takes a long time to really hone your horse betting  skill. Starting with the above topics is the perfect way to get acquainted with the Melbourne Cup while also increasing your chances of winning!

Jockey ProfileHorseTrack Record
Mark ZahraGold Trip4:0-0-0
Hugh BowmanDuals10:0-1-0
Tim ClarkKnights Order2:0-0-0

Analyse Form And Statistics

The Melbourne Cup form guide of a horse is essentially condensed information that covers the performance of a runner in the past. There is a lot of info to unpack here, but once you know how to use a horse form, you will become a more successful punter overnight. The Melbourne Cup horse betting choices you make will start yielding greater results over time.

Let’s take a closer look at the form and what kind of valuable information you’re able to take from it and use. Keep in mind that this almost always be in the form of a racing card that will contain all the data you need, including:

  • An indication of where the horse will be in the Melbourne Cup lineup.
  • Different symbols denote information about the horse. For instance, a / indicates that there was a long gap. For the horse, it means that it did not perform over the previous season. Other symbols like – are a way of separating the racing seasons.
  • The “PU” or “P” letters show that at some point, the horse was pulled from the event and therefore was not able to finish.
  • An “F”, on the other hand, means that the horse fell and was potentially injured during the event. If there is no more information specified, it’s a good idea to learn more about the fall and how serious it really was. Falls during a race can often impact the long-term performance of a runner.
  • A “C” is a good one to look out for because it indicates that the horse has won in that event before. This is especially important for Melbourne Cup betting and returning runners.
  • If you encounter a “D”, it tells you that the horse has won over the same distance in the past. Keep in mind that it also means that the runner did not necessarily win at the Melbourne Cup.
  • Another interesting race card symbol is “BF”, which stands for Beaten Favourite. What this means in regard to the Melbourne Cup is that the runner who was chosen was among the Melbourne Cup favourites at one point but was not able to beat the competition.

2023 Melbourne Cup Odds

The Melbourne Cup betting scene would not be possible with the associated Melbourne Cup odds. The odds are the numbers and calculations that drive the entire system. Bookmakers use lots of different information and algorithms to create the odds structures that punters will then use to place wagers. In horse racing, odds provide the basis for how much a punter is able to wager, and these same horse racing odds dictate how much they can expect to get back in returns from a successful bet.

Top 10 2023 Melbourne Cup 3200m (All In) odds According to Ladbrokes Australia.

Odds PositionRunnerWinPlace
3Francesco Guardi103.25
5Desert Hero134
7Lunar Flare154.5
8Tower Of London154.5
9West Wind Blows154.5
10Without A Fight154.5

Bookmakers, like Ladbrokes, will set out odds in advance of the Melbourne Cup. This is futures betting, where punters can make betting decisions well ahead of the event. For Melbourne Cup betting enthusiasts, it makes it that much easier to make well-informed wagering decisions when placing bets on your favourite mobile betting apps online. The favourite is the runner that has the shortest odds, which is predetermined by the bookmakers for the Melbourne Cup. The favourite will be announced to punters at certain points over the year, allowing for a clear betting selection. It’s also possible to find “co-favourites” in the Melbourne Cup horse racing event, which is when two separate runners are chosen as the favourites.

Check Out Ladbrokes Odds

With Melbourne Cup betting odds, timing is everything. It pays off to be selective of when exactly you want to take out a wager. It’s also worth keeping in mind that the best bets are usually available right at the last minute, but only if you want to put a lot of money down on a promising outsider. In this scenario, it’s a good idea to wait for the event to begin and use the preceding months to get clued up on the runners. Other horse racing betting options will certainly be on offer, but make sure you’ve chosen a runner that suits your criteria. Before you know it, you will be earning wins at a much more consistent rate!

Melbourne Cup Betting Tips

Going into the Melbourne Cup 2023 with the right Melbourne Cup betting tips and tricks is key to finding real success. Using our own experience, we’ve put together a handy list of the very best horse racing tips that will allow you to win more often with Melbourne Cup betting!

Let’s take a look at some of these tips:

Don’t Rely On Favourites

In Melbourne Cup betting, it’s easy to just bet on the favourite. After all, this is what everyone else does! Keep in mind, however, that a favourite is not necessarily the best choice for winning the race, but rather the runner with the shortest odds.

Understand Historical Trends

Trends are particular patterns that you will begin to notice over time. These trends will often indicate how an event will play out.

The Melbourne Cup Tips

If you want to wager on the Melbourne Cup, you’re in luck. The Melbourne Cup is one of the most-covered events in the world, and for you, that means access to endless amounts of quality information. If you want the best Melbourne Cup tips for a trifecta win, for example, you need to use the right strategies paired with good information, and there are many to arm yourself with!

Avoid These Melbourne Cup Betting Mistakes

No list of Melbourne Cup tips would be complete without mentioning common mistakes. All punters make mistakes, but it’s a good idea to be aware of the ones that are worth avoiding.

Following The Crowd

Doing this is never a good idea, as bookmakers typically make their money off of this mass betting on favourites. Instead, turn the other way and look for better ways of placing successful wagers.

Not shopping around enough

There are so many Melbourne Cup betting sites in the world to choose from. All of them will offer unique odds, and it’s so important that you shop around as much as you possibly can.

Get in on the action and get the best horse racing odds online.

2 Key Strategies For Melbourne Cup Betting

Success in Melbourne Cup betting is easy to find for the determined Aussie punter. There are strategies galore, and they can make your success rates shoot through the ceiling.

Implement these awesome strategies to win big during the upcoming Melbourne Cup.

Create A Bankroll

Bankroll management is no joke and plays an enormous role in success. A bankroll is just a budget that you put together for yourself, making it easy to keep track of the money that comes in and goes out when placing bets on your favourite Android betting apps on mobile. This is among the best ways of really understanding how successful you are. Keep in mind that a bankroll does require management, but it can also help you create budgetary limitations so that you never run out of money. The professionals all rely on having an accessible bankroll when taking out wagers on the Melbourne Cup.

Diversify Your Range

When it comes to Melbourne Cup betting, we suggest not putting all of your eggs in one basket. What that means is that it’s extremely important to diversify your betting range as much as possible, and we saw this with the Melbourne Cup 2022 horses tips that many followed last year. Don’t just wager on a few place bets – look at the different exotic bets that are on offer, too! The greater the diversity of wagers, the higher the chance you’ll claim those wins! Diversifying your bets is a skill that takes some time to really master. If you’re brand new to Melbourne Cup betting, rather start small with just a few wagers and work your way up from there.

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Stay Informed With Live Updates

Thanks to its incredible coverage, you will have no problems keeping up to date with the Melbourne Cup. This is an event that is broadcast across the world, both on television as well as on the internet. For you, that means unparalleled access to all of the action as it takes place. Melbourne Cup betting sites will ensure that you can keep track of the Melbourne Cup without even having to get out of bed.

There are a number of ways Melbourne Cup betting lovers can keep up with the times. These include:

Official Sites

Official Racing sites, which will provide all of the official information that you need. Included will be a breakdown of how a Melbourne Cup result is calculated.

News Platforms

Horse racing betting news platforms will begin covering news about the Melbourne Cup quite some time before the event begins.

Social Media

Social media channels and platforms are another fantastic way to have an idea of what’s going on with the Melbourne Cup. Always keep your eyes open for new posts and comments from official pages, as well as from the trainer and jockey teams that you have a particular interest in.


The Melbourne Cup is a prestigious horse racing event with a long and fascinating history. It has become a truly premier horse racing event, especially for those who love Melbourne Cup betting. With this guide at hand, you will be able to find true success with Melbourne Cup betting and all of the excitement and entertainment this iconic Australian racing event has to offer!

Bet on the Melbourne Cup and get in on Caulfield Cup betting action and other great horse racing betting markets at our top recommended sportsbooks in Australia now.

Melbourne Cup Betting FAQ

Are there any reputable online betting sites in Australia that offer Melbourne Cup betting?

Yes. There are many reputable online betting sites to choose from including Ladbrokes, PalmerBet & PickleBet. Look for licensed, regulated sites that welcome Aussies.

How early can I start placing my bets for the Melbourne Cup before the race day?

3 Days At the Totes. Right away at a sportsbook. You can start placing bets three days before the Melbourne Cup begins at the tote, but many online sportsbooks accept bets months in advance.

Can I bet on more than one horse in the Melbourne Cup through online betting?

Yes. Bookies allow you to put wagers on multiple runners during the Melbourne Cup.

Are there any tax implications for the winnings I receive from Melbourne Cup online betting?

No. For Australian punters, any winnings made from gambling are not subject to any taxes.


Melbourne Cup 2023
Flemington Racecourse, 448 Epsom Rd, ,Flemington ,Victoria, Australia-3031
Starting on
November 7, 2023
Ending on
November 7, 2023
The Melbourne Cup is Australia's most famous annual Thoroughbred horse race. It is a 3200-metre race for three-year-olds and over and the perfect event to place that big bet!
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