Every November, the entire nation of Australia stops to observe what happens at Melbourne's Flemington Racecourse: the Melbourne Cup. Nearly everyone in the country likes a flutter on this historic race, whether they are a seasoned horse racing punter or casual fan. Either way, Melbourne Cup betting odds can be found at tab.com.au and you can be assured that they are some of the most competitive horse racing odds on the market.
The Melbourne Cup is worth in excess of a staggering $6million in prizemoney. The most recent winner of the race was Green Moon, which won the 2012 edition of the 3200 metre event.
As ever, a full range of betting odds, all variable and changing all the time, is offered by TAB.com.au. You can bet on Win, Place, Trifecta, Quinella, Exacta, First 4 and Duet during the Melbourne Cup.
Melbourne Cup betting odds - a guide
Types of bet
The full range of bet types is available with the Melbourne Cup. The most popular bet remains the win bet, but place bets are also a good option. Variations on the place bet, and here the odds get really interesting, are Quinellas, Trifectas and First 4s.
Quinella: is where you pick two horses to finish first and second in any order
Exacta: is where you pick two horses to finish first and second in the exact order
Trifecta: you must pick three horses that will finish in the top three placings. You can also do a Box Trifecta which means your three horses can finish in the top three in any order.
First 4: Like the Trifecta, however, you must pick which horses will fill the first four placings
TAB offers punters a variety of either pari-mutuel or Fixed Odds betting. Pari-mutuel betting sees the price of a runner change as the among of money, or lack of it, is invested on a runner. The more money on the runner the shorter the price it will be. Fixed Odds is different - once you have placed a bet, you will secure that price regardless of whether the price changes or not.
Melbourne Cup betting odds are decided and can be affected by many things. These include how a horse has performed in the past over tracks of this length, the win record of the horse leading into the race, the temperament of the jockey and much more.
Odds are further affected in the build-up as the weather forecast takes shape for the big day. An idea emerges of what sort of conditions horses and jockeys will face during the race, and odds might be adjusted accordingly. Check out TAB horse racing tips and start betting today!