The Melbourne Cup is Australia's most famous horse race, run over 3200 metres at Flemington on the first Tuesday of November. More money is wagered on this single race than any other in the Southern Hemisphere.
About the Race
The Melbourne Cup is a Group 1 handicap run at weight-for-age with penalties, open to three-year-olds and older. It carries prize money of $8 million, making it one of the richest staying races in the world. The race was first run in 1861 at Flemington Racecourse.
Key Betting Markets
The Melbourne Cup generates extensive betting markets beyond the win bet. Trifecta and first four markets are especially popular given the 24-horse field. Each-way betting typically pays on first, second, third and sometimes fourth place.
Historical Trends
Internationally trained horses have dominated the Melbourne Cup in recent years. Since 2000, runners trained outside Australia and New Zealand have won approximately half of all Melbourne Cups. Barrier 14 has the best strike rate historically, and horses weighted between 52kg and 55kg have a strong record.
How to Bet
Most Australian bookmakers open Melbourne Cup markets 12 months in advance with futures prices. Prices firm up significantly after the Cup field is finalised in late October. Our feature comparison tool shows which bookmakers offer live streaming of the race and same race multi markets.
Where to Bet
All of our 60 reviewed Australian bookmakers accept bets on this carnival. For major races, compare prices across at least three operators before betting. Filter by feature to find bookmakers that offer live streaming and same race multi betting.
Responsible Gambling
Racing carnivals are social occasions but they can also drive impulsive betting. Set a budget for the carnival before it begins and stick to it. If gambling is no longer fun, help is available 24 hours a day on 1800 858 858 or via Gambling Help Online.