How to Bet on Melbourne Cup Day

When betting on Melbourne Cup day, the weather is a very important factor. The skies can be completely clear all day and then ten minutes before the race rain will fall, completely changing the condition of the turf course. Bettors typically wait until the last moment before placing their wagers on a race such as the Melbourne Cup.

The most wins by any horse in the Melbourne Cup is three, by the immortal Makybe Diva (2003-2005). Four other horses have won it twice, with the most recent being Think Big in 1974 and 1975.

The legendary trainer Bart Cummings won the Melbourne Cup 12 times, most recently in 2008. Jockey Kerrin McEvoy has won it three times, including in 2016 and 2018, and is always worth a look. Owner Lloyd Williams first won the race in 1981, then won it a total of six times, most recently in 2017.

The Melbourne Cup offers typical win, place, and show betting, as well as exacta and trifecta wagering. Different markets from North America, Europe, and Asia may offer different wagering opportunities than those in Australia itself. If betting in Australia or the United Kingdom, each-way betting is offered, meaning a single bet can cover a horse finishing in the top three, and sometimes in the top four depending on the bookmaker.

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Horses to Bet in the Melbourne Cup

When planning 2023 Melbourne Cup horse bets, keep an eye on Irish galloper Vauban, who looks set to run as the favourite in Tuesday’s race. Last year’s winner Gold Trip and Caulfield Cup hero Without A Fight will be leading hopes for the Australian-trained contenders. Vauban’s status as the likely favourite makes him a key player to watch for the 2023 Melbourne Cup.

The Melbourne Cup field is determined by horses that win or run well in exemption races, starting with the Andrew Ramsden in May, then the Bart Cummings, Caulfield Cup, and Cox Plate in October and the Lexus Stakes in November, just days before the big race itself. Other races that can produce Melbourne Cup runners are the Geelong Cup, Mackinnon Stakes/Emirates Stakes.

Horses that have won ballot exemption races automatically get into the race, but then Racing Victoria decides the benchmarks for the rest of the field and order the prospective runners to get into the race. They work off of a nomination process that begins in August. A horse such as Stradivarius, the best marathon horse in the world in 2020, will get the highest benchmark, but a horse with a low benchmark can get in if they win one of the exemption races.

See below the top sportsbooks where you can wager online and choose the best one for you: