Unless you're an Australian who has been living under a rock, everybody knows that the Melbourne Cup is one of the grand centrepieces of the Australian sporting calendar, as well as an important fixture on the global horse racing scene. The Melbourne Cup is known as 'the race that stops the nation', so betting on the race is extremely popular and is the busiest time of the year for the TAB. TAB.com.au is the home of betting on the Melbourne Cup, and indeed horse racing in general all year round.
The Melbourne Cup is a race for thoroughbreds over 3200 metres. Horses must be three-years-old or older and is run at Flemington in Melbourne, Victoria.
The Melbourne Cup is also among the richest races in the world, with the 2010 event having prizemoney of no less than $6million. This makes Melbourne Cup betting incredibly popular both at home and abroad, with the buzz surrounding the race, from the regular punter to the once-a-year bettor, creating an electric atmosphere.
The Melbourne Cup is the betting - and social - event of the year for horse racing, and TAB.com.au is able to offer a full range of horse racing betting options and some of the most competitive Melbourne Cup odds on the market.
Melbourne Cup betting options
A win bet is the simplest and most popular bet. Simply pick a horse to win and bet on it according to the odds offered at TAB.com.au.
A place bet on the Melbourne Cup is a bet on which horse or horses will finish the race in the top three.
An each way bet sees the punter able to collect dividends on both a win bet and a place bet if your horse wins. If it simply runs a place, you will collect n the place dividend only.
Here, a punter can pick two horses taking part in the Melbourne Cup and place a bet on which of the two of them will finish ahead of the other..
Punters can bet on the Melbourne Cup after it has begun and while it is in progress. Odds change as the positions of each horse change. This is available at TAB outlets or by calling 133 390.
It is possible to bet on the Melbourne Cup several months in advance, when odds are longer, offering the chance of higher dividends come race day. Of course, a futures bet has an element of risk as the horse you select may not make the final field.
Exotics - Quinella, Exacta, Trifecta, First 4, Quaddie, BIG6
Betting on the exotics gives punters the chance to collect some really big dividends, depending on the results of the race. A quinella is when you have to pick two horses that will finish first and second in either order - it is similar to the Exacta, but the only difference is that with the Exacta you must pick the horse to finish first and second in that order.
When betting on the Trifecta, you have to successfully tip the first three placegetters across the finish line in the correct order, however, if you take a Boxed Trifecta, the runners you have chosen can finish in any order as long they run in the top three.
Betting on the Quaddie is one of the harder, but far more lucrative bet types offered by the TAB. The Quaddie is a selection of four races where you must correctly select the winners for you to collect a dividend. Considering you have to pick four winners, it isn't unusual for punters to collect big paydays. The BIG6 is the TAB's exotic bet type that offers punters the chance to collect 'lotto' type dividends. It is similar to the Quaddie but here, you must correctly select the winners of six races. The BIG6 offers a major dividend (six winners) and a supplementary dividend (the first five winners).