All-In Betting Odds
Learning to interpret form guides makes picking a winner much more fun! Most punters lose because there are many variables to consider such as past race form and current form. Professional punters try to pick out value horses, the ones that may be in peak form at the time of the race, and the ones that offer higher odds for a win or place than the hot favourites.
In regards to the Melbourne Cup, it is a race that is notoriously difficult to pick using just past race form. The reason being that these are some of the top stayers from around the world, many of which have won several races in Australia and overseas. In fact majority of the runners are flown to Melbourne from Europe. Think of it this way - the horse owners and trainers wouldn't ship their prized runners thousands of miles to Melbourne and spend a fortune in nomination fees and other expenses just to have a run around Flemington. They are all here to win it. So how do you pick a winner from a group of winners, who are all in excellent form?
The Final Field
The final field for the Melbourne Cup is announced on the weekend prior to the race on Tuesday. The selection is based on a balloting system but race directors also retain the absolute power to exclude any horse from the race, or exempt any horse from the ballot on the race. Usually the winners of Caulfield Cup, The Cox Plate, The Lexus Stakes, and the Victoria Derby are guaranteed a place should they accept it. The races that provide exemption do change from time to time and there may be other races than those mentioned above that qualify.
Just prior to race day each horse is subjected to a thorough veterinary check. If any horse fails the check then such horse will be scratched from the race. Any scratched horse is not replaced, i.e. there are no reserve horses in the Melbourne Cup. That means if one horse is scratched the field of 24 becomes a field of 23 changing the jump in terms of barriers - unless of course the scratched horse was on barrier 24.
Around 150 horses are entered in the Melbourne Cup each year. The entries and the weights are declared mid September and after that things start to take shape. The first declarations are announced early in October, the second declarations late October, and the final declarations on the Saturday prior to the first Tuesday of November.
The total value of Melbourne Cup purse is well over $6 million. The winner takes about half of that. The rest are distributed from 2nd to 10th place.
Below you will find the 'all-in betting odds' for the Melbourne Cup. You will find that these odds are very juicy at the moment but getting shorter by the day. The best strategy is to bet early and bet big! It's the only way for a big payday. Note that with big reward potential comes risk; no refunds, or deductions are given for non runners when betting all-in.