Placing Bets For The Melbourne Cup

If you’re a punter waiting to place your bet for the Melbourne Cup 2021, read this article to know where and how to do so.

Melbourne Cup: Where and How To Place Bets Online

The Melbourne Cup is among the richest and most popular horse races in the world. On the first Tuesday of every November, thousands of fans crowd at the Flemington Racecourse in Victoria to watch it unfold. This year, it’ll be held on November 2 at 3 PM local time. If you don’t make it to the tracks, you aren’t at a loss as you can still join millions of other virtual fans back home to cheer for your favorite horse. (1)

Punters are an important audience in the Melbourne Cup. Being a big horse race, many fans place their bets on their chosen horse and hope for a positive outcome. In 2020, one lucky punter placed an AUD$5,000 bet on Twilight Payment, the winning horse, at just AUD$ 26. At the end of the race, the punter bagged AUD$130,000. This is sure to be a day they’ll never forget. (2)

On this account, if you’re a punter, this could be your lucky year. This article gives you tips on when and where to place your online Melbourne Cup 2021 bets. Read on to learn more.

Melbourne Cup Race

Online betting sites

As of 2019, research indicated that the online gambling market was AUD$59.78 billion. This is expected to grow to reach AUD$90.34 billion by 2025. This is a reflection of the popularity of the online betting industry. And this statement is backed by this year’s even bigger projection. Perhaps, this is because online betting is an easier and more convenient way to make your bets, compared to doing so on physical sportsbooks. (3) (4)

For this reason, online betting sites are constantly incorporating the latest technologies such as machine learning (ML) and improving their features so that they can maintain a competitive edge. These features make betting easier, and they may even increase your chances of winning. Some of these features include live betting, bet builders, cash out, mobile apps, bonuses, and promotions, among others. (5)

So for the Melbourne Cup 2021, here’s a list of sites you might want to consider when placing your bets:

  • Moneyball: Comes with a range of racing and sports betting markets on the betting site’s app on Android and iOS phones.
  • TAB: Offers a secure betting environment with all the latest odds and tips.
  • Sportsbet: Presents an extensive range of betting options and amazing promotions on multiple sporting events.
  • ZBet: Has a wide range of betting and sporting markets.
  • Bet365: Live stat tracking and live streaming of the sports.

These are just a few betting platforms. There are many more, such as Ladbrokes, Neds, and Palmerbet, that you can use to place your wager. They all come with amazing features, and if you’re lucky enough, you may win plenty of cash from the sites.

Bet types

The good thing about horse race betting is that there are multiple ways for you to place your bets. If you prepare well enough before laying your odds and have luck on your side, you’ll most likely have a successful betting experience. For further guidance on preparation for the Melbourne Cup day, the videos at https://www.youtube.com/c/PuntersAustralia will come in handy.

So if you’re wondering how to place bets on your favorite horse or horses, here are several bet types you can take:

  • Win bet: For you to win your wager, the horse you choose as winner must cross the finish line first.
  • Place bet: This option increases your chances of winning. To win your wager, you must pick two horses that will finish in first or second place. However, the payoff will be lower than that of the winning wager.
  • Show bet: Instead of two, you can select three horses to finish first, second or third place. However, compared to win and place bets, show bets have the least payoff.
  • Exacta bet: You select the top two finishers in the correct order.
  • Quinella bet: You pick the first two horses to cross the finish line. Unlike exacta bet, you don’t have to give the correct order.
  • Trifecta: To win a wager, you select the top three finishers in the correct order.
  • Superfecta: This is a more challenging wager. You’re required to pick the top four finishers in the correct order.
  • Super Hi-Five: This is even more challenging as you should select the first five finishers in the correct order. However, the good thing about this is that for very little money to place your bets, you can bag a lot as prize money.

To increase your chances of winning, you’d want to browse sites that offer helpful Melbourne Cup expert tips and gain more insight into which horses to bet on and why. Afterward, if you’re confident of your betting odds, go ahead and place your bets depending on whichever bet type you think will bring you some good money.

Conclusion

With the Melbourne Cup fast approaching, millions of punters globally are excited to try out their luck on betting on the horses. If you’re one, you should consider the tips outlined herein on where to place your bet, and how you can place it.

For instance, after doing careful research and following the tips provided, you can proceed to choose an online betting site from the list provided in the article and place a trifecta. Afterward, cross your fingers and hope that lady luck is on your side.

References

  1. “Show Me The Money Breeder’s Cup, The Everest and Saudi Cup – We Count Down The World’s Richest Horse Races With Prizes Up To £15 Million”, Source: https://www.thesun.co.uk/sport/horseracing/13094826/worlds-richest-horse-race-breeders-cup/
  2. “A Punter’s Paradise: Breakfast Bet Cashes $130K As Cup Upset Causes Big-Money Chaos”, Source: https://www.foxsports.com.au/horse-racing/melbourne-cup/melbourne-cup-2020-odds-bets-horses-where-the-big-money-is-going-at-flemington/news-story/e2e7005caea71f934b02c4d07f29b08f
  3.  “Global Online Gambling Market Report 2020-2025 – COVID-19 Has Led To A Sudden Rise In Revenues With Some Studies Reporting 67% Increase – ResearchAndMarkets.com”, Source: https://www.businesswire.com/news/home/20201023005458/en/Global-Online-Gambling-Market-Report-2020-2025—COVID-19-has-Led-to-a-Sudden-Rise-in-Revenues-with-Some-Studies-Reporting-67-Increase—ResearchAndMarkets.com
  4. “Sports Betting Market Poised For An Even Bigger Boom In 2021”, Source: https://markets.businessinsider.com/news/stocks/sports-betting-market-poised-for-an-even-bigger-boom-in-2021-1029964526
  5.  “A Machine Learning Framework For Sport Result Prediction”, Source: https://www.sciencedirect.com/science/article/pii/S2210832717301485

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