Known locally as ‘the race that stops a nation’, the Melbourne Cup is the most coveted prize in Australian thoroughbred horse racing. It is the biggest betting event of the year, always run on the first Tuesday in November.
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How To Bet On The Melbourne Cup
The Melbourne Cup has the same betting options as other major races, like the Gold Cup at the Cheltenham Festival or the Grand National. These three types of bets are the most common wagers placed each year during the Melbourne Cup festival:
- Each-Way | It's the most popular Melbourne Cup betting option. You back a horse to win or place - placings generally go down to 4th position, but sometimes 5th or 6th, depending on your bookmaker. If the horse wins, you get a return on the win part of your bet, and the place part. If the horse places, you get a return on your place bet.
- Forecast | A good alternative to the outright win bet, this involves picking the first 2 horses to finish in the correct order. You can go each-way on this bet (reverse forecast), or pick the first 3 in a Trifecta, or the first 4 in a Superfecta.
- Betting Without | This is a new market, where gamblers can place a bet on a horse to win as if the favourite was not running. It's not always available, and is most common when there is a very strong favourite.
Melbourne Cup Odds Explained
The odds in the Melbourne Cup are presented to South African punters in a different way. Most South African betting sites display Melbourne Cup odds in decimal format. For example, odds of 5.00 mean a winning R100 bet returns R500 in total, including your original stake. Many bookmakers also allow customers to switch to fractional or American odds if preferred.
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 punters too.
Consider these points when plotting your horse racing betting strategy.
The Race That Stops a Nation
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 7.000.000.000 Rand is wagered - $350 million of that spent betting on Cup day itself.
Conclusion
The Melbourne Cup is among the top horse racing events globally and remains one of the most exciting events for millions of viewers and punters every year. This also acts as a chance for punters in South Africa to participate in this amazing worldwide race via online bookmakers.
The Melbourne Cup caters to everyone from someone who prefers a simple win bet to someone who likes exotic betting such as Exactas, Trifectas, or Each-Way bets. It is crucial to analyze the form guide, compare the odds and bet wisely in order to ensure a greater chance of success.
FAQ
Can I place a wager on the Melbourne Cup while in South Africa?
Yes, individuals located in South Africa have the opportunity to wager on the Melbourne Cup through an online betting agent that operates legally. A majority of these sites offer pre-race as well as live betting.
When does the Melbourne Cup take place?
The Melbourne Cup is held on the first Tuesday of November every year at the Flemington Racecourse located in the city of Melbourne, Australia.
What popular betting options are available during the Melbourne Cup?
The most commonly used betting methods are Win, Place, Each-Way, Exacta (Forecast), Trifecta, Superfecta, and Betting Without the Favourite. Apart from these bets, some bookmakers may offer different unique betting opportunities.
Do I understand how the Odds for the Melbourne Cup works?
Most betting sites in South Africa display the odds in decimal. For instance, an odds of 5.00 indicates an easy R100 bet results in a total return of R500 winnings inclusive of the stakeholder’s bet.