Melbourne Cup Betting Guide

The 2022 Melbourne Cup race is scheduled to take place on 1st November, and horse racing bookmakers are already taking action. Different types of bets, including ante-post wagers on this event, are available right now. But it is important to note that the final track is yet to be confirmed by the officials. For useful Melbourne Cup tips for betting, see the Melbourne Cup betting guide below.

If you want to place a bet on the next Melbourne Cup, the best bet is to do that online. Betting online allows you to compare different offers and prices from multiple betting websites quickly.

Here, you’ll find details about the Melbourne Cup event, including the history, track, and Melbourne Cup betting tips on how to find value in odds. Keep reading to discover more.

The Melbourne Cup horse racing competition approaches fast, with the next event commencing on Tuesday 1st November 2022 at 3 pm. This year, the race that stops a nation is more thrilling than ever, with numerous celebrations occurring both outside and inside the racetrack. While the $8 million Melbourne Cup event is the centrepiece of the Melbourne Cup Carnival, there’re many additional social events and races to keep each individual busy and entertained.

In total, ten races take place across the day, with different prize values and race distances on offer. The 3200-meter Melbourne Cup is the most prestigious event on the racing calendar of Australia and the whole Melbourne Cup day spectacle is arranged as an enthralling and complete package. 

When it comes to favourite horses, the Melbourne Cup is in most cases occupied by the same names, over several years, like Tiger Roll being among the favourites for the Grand National and emerging the winner of the race back-to-back between 2018 and 2019. However, some favourites do not win the race, and that means you need to research the favourites, taking into account their current form, before placing your bets.

The Melbourne Cup horse racing event has a long tradition, with the first event taking place in 1861. Initially, the race was run over 3,219 meters but was reduced to 3,200 meters in 1972 when the metric system was adopted in Australia.

Archer was the first winner of the race and only competed in two races. As early as 1865, the Melbourne Cup day was a half-holiday for bank officials and public servants. Also, different businesses closed at lunchtime.

In recent years, the event has undergone various alterations, the most visible one being the entry of foreign-trained horses. The attraction for foreigners to participate in the race was basically the low-profile alteration to the new quality handicap weighting system.

In 1910, Comedy King won the race as the first foreigner. Subsequent foreign horses to win the race were Backwood 1924, Wotan 1936, Beldale 1980, Talaq 1986, Vintage Crop 1993, Makybe Diva 2003, and Americain in 2010, among others.

The Melbourne Cup is with no doubt the biggest horse racing event in Australia in terms of both viewer count and betting turnover. With the TAB alone, the Melbourne Cup event had a turnover of approximately $80 million.

If you’re thinking about placing a wager on the Melbourne Cup event, then it is advisable to look for the best Melbourne betting guide, and luckily, you don’t need to look elsewhere than on this page to find out one. If you need more tips, read more about horse betting strategy.

There are many different factors to keep into consideration when it comes to picking the overall winner of the Melbourne Cup horse racing event. And one of them is the current form of the competitors. You should research their competitors, considering some of the past races. 

Before you can make the final decision, be sure that the form of your option has been excellent across the past horse racing events and races. The Caulfield Cup is always a perfect place to start your research because it occurs a few weeks before the Melbourne Cup horse racing event.

The Melbourne Cup track is restricted to only 24 horses with zero emergencies. However, the race receives dozens of nominations in the lead-up to the final event. The Melbourne Cup track for each year is always released on the weekend before the competition and just after the conclusion of the Victoria Derby Day. 

All serious bettors wait impatiently for the Melbourne Cup track information every year as it provides them with the opportunity to lock in their final wagers. Even still, thousands of punters bide their precious time until the morning of the event just because the odds for the Melbourne Cup can improve or something can get scratched.

Following the announcement of the Melbourne Cup track on the Victorian Derby Day that starts the four-meeting Melbourne Cup Carnival every year, the barrier draw is then released live from Flemington Racetrack.

The Melbourne Cup barrier draw can have a massive impact on the result of the event. In 2020, Tiger Moth was the favourite to win the race but received a number 23 barrier draw, a position that no contestant has managed to win since 1976. 

During the race, Tiger managed to grab the second position behind Twilight. Verry Elleegant became the first-ever horse in over 160 races to win from the 18 barrier draw. Before the race, you should watch out for the Melbourne barrier draw and factor this into your Melbourne Cup betting online strategy.

Wagering on the Melbourne Cup event? Ensure you find the best value in Melbourne Cup odds. But before that, you need to understand what the odds mean. The term odds mean the individual price assigned by a bookie to each horse. Each horse will always have a unique price. And in most cases, the horse with the lowest price is believed to be the favourite. 

But sometimes, even the underdogs win the race. Melbourne Cup horse odds are determined by who the bookies feel has the highest chances of emerging the winner. Often the horses will open up at a given price and either drift to higher odds or get backed into lower odds. To find the most value, try your best to sign up with top-rated sites and take advantage of odd boosts and other incentives.

Similar to many other races, the Melbourne Cup betting offers many types of bets which include:

Win Bet: Place a bet on the horse you feel will win the Melbourne event.

Each-Way-Bet: Put an equal amount of money on a horse for a place and the win, the equivalent of two wagers.

Place Bet: Select a horse you think will finish among the top three. 

Quinella Bet: In the Quinella betting you can choose the horses you think will complete the race in the first and second positions, and they can complete in either position.

First Four: The first four bets involve picking the horses that complete the race in the first, second, third, and fourth in the correct order.

For any racing enthusiasts who cannot make it to the race but still want to watch their favourite Melbourne Cup horses live, there’re, luckily, many options. You can watching the Melbourne Cup online both on Pay TV through Sky Racing 2, Sky Thoroughbred Central and Sky Racing 1 and via online bookies that offer Melbourne Cup streaming services. Depending on your bookmaker, you will watch Melbourne Cup live free of charge via promotions or fund your account.