Betting On the Melbourne Cup
In the world of thoroughbred horseracing, the Melbourne Cup is considered to be the most prestigious race of them all. Held at the Flemington Racecourse as part of the Spring Carnival, the Melbourne Cup has been dubbed as the richest two-mile handicap race in the world. For punters in New Zealand, the race provides ample betting opportunities with a full range of betting options for both novice and experienced bettors.
The history of the Melbourne Cup dates back to 17th century. The first ever race was run on the 7th of November 1861. At the time, it was run over a distance of two miles (3.219 meters). The winner-takes-all prize consisted of 710 gold sovereigns as well as a hand-crafted gold watch. The race was won by a stallion named Archer. In 1972, the race was shortened to a distance of 3200 meters when Australia adopted the metric system. Today the race is Group 1 thoroughbred race for three-year-olds and over. While the race does not have a maximum weight, it does have a minimum weight handicap of 50kg.
The World’s Most Prestigious Horse Race
The popularity of the Melbourne Cup is such that local online betting websites are filled with Melbourne Cup Betting odds for weeks prior to the race. Just about every punter in Australia and New Zealand will have a flutter on the race, even if it is only a few dollars. In 2016 it was Almandin who crossed the line first, narrowly beating out Heartbreak City. Almandin’s owner, Lloyd William became the first owner in history to have five Melbourne Cup Wins to his name.
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One of the reasons the Melbourne Cup day betting has become so popular is because of the sheer number of bets that can be placed on each race. For anyone just wanting to have a flutter on the main race, the way to get started is by placing a straight up win bet. This simply involves picking the winner of the featured race on the day. Since the race is run at the end of the year, punters can base their decisions on how the horses have been running throughout the year and previous placing on long distance tracks.
Melbourne Cup Online Bets
One of the best Melbourne Cup bets is a placing bet. Unlike a win bet, placing bets don’t actually require punters to choose a winner. In this instance, punters choose a horse who they think will finish in the money. This means finishing anywhere in the top three placings. While the payouts are a lower than a win bet, placing bets have a greater chance of paying out.
For more experienced punters, there are a full range of multi and exotic bets that can be placed on each race. These bets can include an each way bet, doubles bets, trebles, trifectas and exacta bets. With Melbourne Cup online betting, it is essential to do a much research as possible before placing any large bet. The more you know about the horses, the trainers and the surface, the greater your chances of placing a winning bet.