It’s just a few more days until the 2021 Melbourne Cup kicks off. To be precise, this race that truly stops the Australian nation will be held on Tuesday, November 2, 2021. As has been the custom for several decades, it falls on the first Tuesday of November each year. (1)
And you expect over one hundred thousand horse-racing fans on the Flemington Racecourse in Victoria, where the race will take place. Additionally, a record 1.4 to 2.7 million fans will be simultaneously following the race on TV. (2)
You wouldn’t want to miss this exciting thoroughbred horse race that’s considered the biggest and richest in the world. Even though you don’t make it to Melbourne to cheer your favorites in person, you can be part and parcel of the thrill by placing bets.
In this article, you’ll learn everything you need to know about betting on the 2021 Melbourne Cup.
How to bet on the 2021 Melbourne Cup
While you can bet on the track, it’s best to do it online, as it’s more convenient for you and you get the chance to compare prices and offers from various sportsbooks. Here are the essential steps you ought to follow to place your Melb Cup bet online.
Select betting site: Being a major event, all Australian sportsbooks offer betting odds for the race.
Create an account: Once you settle on your preferred betting site, you’ll need to create an account by providing a few essential details, including your name and email address.
Fund account: Next, choose your preferred payment method and deposit some cash into the account. Different online sportsbooks have different minimum deposit requirements, and so you’d want to go for one that favors the depth of your pocket.
Place bet: With cash in the account, you can now place a bet and hope that the odds are in your favor.
Popular Melbourne Cup betting types
Here are the most popular bet types you can place on the Melbourne Cup horse race:
Win: You predict a particular horse, out of the total of 24, wins the race
Place: You speculate a certain horse will finish 1st, 2nd, or 3rd
Quinella: You specify which two horses will finish the race first, in any order
Exacta: You bet on the first two horses to complete the race in a given order
Trifecta: You lay a wager on the first three winning horses. (3)
Do note that these are just a handful of betting basics; there are several other types of horse-racing bets you may want to consider.
Betting odds clarified
For the Melbourne Cup, you’ll encounter two main odds, as outlined below:
Decimal odds: If you bet on a horse with a decimal odd of, say, 19.0, it implies that you’ll win AUD$19 for every AUD$1 wagered.
Fractional odds: Suppose you bet on a horse with fractional odds of 19/1. In that case, you’ll get AUD$19 for every AUD$1 wagered.
Remember, your initial stake is always added to the amount you win. So, in the two examples above, you’ll get a total of AUD$20, assuming that you wagered AUD$1.
Tips and predictions
While no one can precisely predict the future, there are past trends you can capitalize on to help you place an informed bet with higher chances of winning. You can watch the videos here for more on the notable trends:
https://www.youtube.com/c/PuntersAustralia
Here are a few incredible tips you’d want to use for the Melbourne Cup 2021:
Weight matters: The horses are made to carry different weights to even the playing field, which is the meaning of handicap racing. Thus, you’d want to consider the past performance of any horse while carrying a similar weight. If they previously performed dismally, the chances of winning in the forthcoming race are thin.
Recurring wins: It’s not uncommon for a particular horse to win several consecutive years. For instance, Tiger Moth won in 2018 and 2019, while Makybe Diva won in 2003, 2004, and 2005. So, 2020’s winner, Twilight Paymente, may go for the gold again this year. (4)
Recent improvements: Scrutinize some of the horses lined up for the race and identify the ones that have shown continual improvements of late. For this reason, you’d want to closely follow the Caulfield Cup that’s held a few weeks before November and use the results to bet on the Melbourne Cup.
Jockey: A horse’s performance on the racing track also depends on the rider. Thus, you’d want to count on previous winners, like 2020’s Jye McNeil and 2019’s Craig Williams. But you can always be prepared for massive surprises, as punters did when Craig Williams finished 13th with Surprise Baby in 2020. (5)
Place your bet as soon as possible
With this elaborate guide, you can now comfortably place your bet on the Melbourne Cup 2021. Doing so enables you to enjoy the race as you cheer your favorite horse to the finish line. But remember to bet responsibly, as it’s not always guaranteed that your predictions will turn out to be true.
References
“Melbourne Cup 1866,” https://www.nma.gov.au/explore/collection/highlights/1866-melbourne-cup
“Premier Daniel Andrews raises hope for crowds at Melbourne Cup with lockdown road map announcement,” https://www.news.com.au/sport/superracing/premier-daniel-andrews-raises-hope-for-crowds-at-melbourne-cup-with-lockdown-road-map-announcement/news-story/abe3ed83a0a0edc0bf8891961c7b40d6
“How To Bet On Horse Racing,” https://www.bettinginstitute.co.uk/how-to-bet/horse-betting-guide/
“MELBOURNE CUP WINNERS: 1861 TO 2020,” https://horsebetting.com.au/melbourne-cup/winners/
“Biggest Melbourne Cup flop of all is a massive surprise,” https://www.news.com.au/sport/superracing/melbourne-cup/woah-baby-biggest-melbourne-cup-flop-a-massive-surprise/news-story/1ec17a9b5a37d8db0b38758bb4d2772f
