Best Way To Place A Bet On Melbourne Cup

Among these Melbourne Cup bets are Place bets, where a punter selects a horse to win in the money from second place onwards; Each Way bets, where a place and a win are selected; Exacta, where a punter selects the first and second place winners in order; Trifecta, where a punter selects the first, second and third place winners in order; and Quinella, where a punter selects the winner and second place. If you place a £10 each-way bet on a horse at the Melbourne Cup, it costs you £20, since you are putting £10 on a horse to win and another £10 on the horse to place in the race. Quinella Bet A quinella is when you place a bet on the horse you believe will win the race and run in second. A Melbourne Cup betting site at odds of 5 to 1 a day before the race. But a surge of betting on that horse could bring the odds down to something like 2 to 1 by the time that the race goes off. Which Bets Can I Place on the Melbourne Cup? Exacta: Bet on the first two horse in the order of finish in a single race. Choose an online bookmaker. Use one of the below bookmakers to place a bet on.

Simply pick the runner that you think will finish 1st in a race. You can choose to place a Tote Win bet where the price will continue to fluctuate up until the race.

Get the latest betting mail from racing experts Matt Stewart and Ray Thomas ahead of the Melbourne Cup

Melbourne and Caulfield Cup winner Dunaden returns again for another shot at spring riches. Picture: Wayne LudbeySource:HeraldSun

WE NEVER hold back at a Cup flutter, so here's some tips to boost the odds.

It might be the race that stops a nation, but it certainly doesn't stop Aussies opening their wallets.

Best Way To Place A Bet On Melbourne Cup

Forecasters at IBISWorld are predicting that Melbourne Cup carnival spending will bubble to a massive $455 million this year, up 3.5 per cent on last year, as consumer sentiment picks up.

And guess what? About $68 million of that is expected to be spent on betting. I know we Australians love a punt, but $68 million in a bit over a week? That's passion. Or stupidity.

We're like many Australians and just mug punters. The only time we have a bet is at the Melbourne Cup carnival. Yes, it's the hardest race to pick and yes, we know we're stupid.

But either way, it happens year after year, so here's a quick wrap of your 'investment' options if you're looking to join in the flutter.

Taking the plunge

Most Melbourne Cup betting is on the winner of the race. In a win bet, punters place a wager on the horse they think will win.

The number of horses in the race and how they've raced recently will determine your chances here, so the form guide is a good place to start.

The best odds are often found at online sports betting sites or the TAB, but on-track bookies have an old-world chat and feel that adds to the experience.

Winning isn't everything

A place bet is the choice of punters wanting to wind back risk. To win a place bet, your horse just has to finish first, second or third.

Obviously there's a better chance of winning a place bet than coming first, so this is a good option if losing a bet is going to grate you.

The trade-off is that it doesn't pay particularly well.

Each-way punt

For those who want the best of both worlds, an each-way bet is the best option.

This is a win and a place bet on a particular horse, both of equal size. So, $20 each-way is a $40 bet - $20 on the win and $20 on the place.

Exotic bets

Exotic bets are more suited to experienced punters as they involve picking multiple place getters. Needless to say, this increased difficulty can mean bigger pay-offs.

You have an average chance of picking the quinella - the first and second place getters in a race in either order - where punters usually take the top two favourites.

Picking more than two horses to win first or second in the race is also possible, and is called a box quinella. The more horses you put in the 'box', the higher your chances of winning. So you can pick five horses, for example, and as long as two of them take out first and second, you win.

The exacta requires punters to pick two horses to finish first and second, in that exact order. It's harder and riskier to pick than a quinella but pays out significantly more. The box exacta allows punters to choose two or more horses and covers every exacta combination.

Finally, there's the trifecta, which if picked correctly at the Melbourne Cup can have huge payouts. The horses you select must finish first, second and third in the exact order you pick them, and the chances of doing this aren't very high.

Again, the box trifecta lets punters choose any number of horses from three to the field limit and covers every trifecta combination.

Over the past four years, we've gone and boxed every horse in the race with odds under 50-1.

It follows the advice of a maths professor who has studied the history of the Melbourne Cup and reckons this is the best way of making money out of the Cup.

Our first year we won big, second year we broke even and last year lost big. So this year is the decider.

Away from the track

For those looking for returns away from the racetrack altogether, casinos have a huge range of gambling options, but it's important to know what you're doing.

And while there is some skill in card games, there is none in the lottery, where you have about a one in 45 million chance of winning on each entry.

So given casinos generally don't have great odds for the inexperienced, and lottery next to none, it's worth trying your hand at the track if you want a punt this carnival season.

Best Way To Bet On Melbourne Cup

There can be big payouts, options for those who want to tone down the risk and the atmosphere is second to none.

Best Way To Place A Bet On Melbourne Cup 2019

Just remember to only bet what you're willing to lose.

How To Place A Bet On The Melbourne Cup Online

Originally published asHow to bet on the Melbourne Cup