How to Bet on the Melbourne Cup

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How to Bet on the Melbourne Cup

The Melbourne Cup is not just any horse race; it’s the race that stops a nation!

With a history spanning over 160 years, it’s a race where legends are made and it’s a race that’s loved by expert and casual punters alike. Beyond the 3,200-metre race at Flemington Racecourse, it’s an event filled with fashion, entertainment, and national spirit.

However, if you’re a casual punter, placing a bet on the Melbourne Cup can seem like a daunting task – what do all the bet types mean? And how do you actually place a bet on the Melbourne Cup?

In this article, the expert punters at GoBet guide you step-by-step on how to place a bet on the Melbourne Cup!


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1. Understand the Types of Bets you can Place on the Melbourne Cup

Understanding the types of Melbourne Cup betting options is crucial to making informed decisions:

Melbourne Cup Win Bet

This is the simplest bet. You’re backing a horse to win the Melbourne Cup.

If it finishes first, you collect your winnings.

Melbourne Cup Place Bet

A safer bet than the win, you’re betting on a horse to finish either first, second, or third.

The odds are lower, but the chances of winning are higher.

Melbourne Cup Each-Way Bet

This is essentially two bets in one – half your stake goes on the win, and half on the place.

If your horse wins the Melbourne Cup, you collect both the win and the place dividend. If it places, you collect just the place dividend.

Melbourne Cup Quinella Bet

A quinella bet is where you pick two horses, and they can finish first and second in any order for you to win.

Melbourne Cup Trifecta Bet

For a Melbourne Cup trifecta bet, you’re selecting three horses to finish in the exact order of first, second, and third.

The GoBet team have head great success with our Melbourne Cup tips for trifecta over the years.

Melbourne Cup First Four Bet

For a Melbourne Cup first four bet, you’re picking the first four horses in their exact finishing order.

Once again, the GoBet team have head great success with our Melbourne Cup tips for first four over the years.

2. Researching the Melbourne Cup Field

Melbourne Cup Form Guides

Form guides are your best friend when betting. They provide insights into a horse’s previous performances, distance records, and how they’ve fared on the big Flemington track previously (if they have raced there).

Matching up the international form lines is always a challenge, but if you have time, it can be worth watching some race replays of the international runners in the race to judge for yourself how they might match up against the Australian horses.

If you don’t have time to analyse all the detailed form and sectionals data, check out our expert Melbourne Cup horse racing tips – we’ve put countless hours of research into coming up with our selections.

Melbourne Cup Track Conditions

Every horse has its preference – some excel on soft and heavy tracks after rain, while others need a firm and dry ground to really showcase their speed.

Always check the weather forecast leading up to the Melbourne Cup and adjust your bets accordingly.

Weather conditions can be a major factor for some horses so make sure your betting on a runner that is suited to the track conditions on the day.

Horse and Jockey History

A winning horse often has a winning team behind it. Look into the history of not just the horse, but also the jockey and the trainer.

A jockey with a previous Melbourne Cup win, for instance, brings experience that can’t be overlooked.

3. Setting a Budget

Decide on a Melbourne Cup Betting Budget

Responsible betting is paramount. Before you dive into the excitement of the Melbourne Cup, decide on a maximum amount you’re willing to wager and stick to it, win or lose.

Diversify Your Melbourne Cup Bets

Think of betting like investing – it’s wise not to put all your eggs in one basket.

By spreading your bets across multiple Melbourne Cup runners and bet types, you increase your chances of getting a return, even if it’s not the jackpot you hoped for.

4. Placing Your Melbourne Cup Bet

Choose Your Melbourne Cup Bet Type

With your research done, decide on your bet type.

Are you feeling confident about a particular horse, or would you rather play it safe with a place bet?

Alternatively, you can choose to go for the Melbourne Cup trifecta or first four for a potentially large payout, but at a much higher risk.

Fill Out a Melbourne Cup Betting Slip

If you’re at a physical location like the TAB, you’ll be given a slip to fill out. Clearly mark your selections and the amount you’re wagering.

Always double-check your slip before handing it over.

Online Betting

For those who prefer digital convenience, online betting sites or mobile betting apps are available.

Ensure you’re using a secure and reputable platform – such as the Australian bookmakers featured here at GoBet.

Once registered, the process is usually straightforward: select the race, choose your bet type, pick your horse(s), and confirm your stake.


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5. Enjoying the Melbourne Cup

The Melbourne Cup is more than a race; it’s an experience. Whether you’re at a viewing party, a local pub, or in the comfort of your home, immerse yourself in the atmosphere.

If you can’t watch live, several apps and websites offer live commentary and updates. They’ll keep you informed every step (or gallop) of the way.

6. Collecting Your Melbourne Cup Winnings!

If fortune favours you and your Melbourne Cup horse, it’s time to collect!

For in-person bets, return to the counter with your slip 10-15 minutes after the race has concluded.

For online bets, winnings are credited directly to your account. For win/place bets, the winnings should be in your account mintutes after your horse crosses the line, for other bet types such as trifecta and first four bets, you will have to wait 10-15 minutes while the jockeys weigh in.

Remember, it’s wise to withdraw your initial stake and play with only the profit in future bets.

Enjoy the race and gamble responsibly!

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About Daryl Curnow

After graduating from the University of Auckland (BA - English), Daryl was thrown into the world of sports and horse racing journalism. Having worked as a racing journalist for two years, he decided to move into the online world of horse racing and sports writing. After years of honing his craft, Daryl became a professional punter in 2009 - with a focus on horse racing, NRL, AFL, NBA, Rugby, NFL, and US college sports. Daryl's tips have been featured on various websites around the world before joining the GoBet team. When he's not working, Daryl tries to avoid making bogeys on the golf course.