Melbourne Cup 2008

Melbourne Cup Bets

The first Tuesday in November - Australia's most famous race date - is when Melbourne Cup bets dominate proceedings.

In Melbourne it's been a public holiday (since 1877), elsewhere, it is an excuse for an early knock-off work, a barbeque with friends and a bet on the race.

A Group One handicap contested over 3200m, the Melbourne Cup often provides open betting and around 140,000 racegoers converge on Flemington to shop around for the best odds.

It is the race that every trainer, owner, breeder, jockey and strapper want to win. A Melbourne Cup victory changes lives - not just because of its massive $5.1 million stakes pool but because its winner becomes part of history, especially those who did something a bit special. Such as Makybe Diva, who was retired in the aftermath of her third straight Melbourne Cup victory in 2005 or Media Puzzle, whose jockey Damien Oliver saluted the sky in tribute to his brother Jason who had died after a fall in a trial only a few days before.

The first Melbourne Cup was contested in 1861 and won by the New South Wales visitor Archer who repeated the dose twelve months later. Legend for many years had it that he walked from Nowra to Melbourne and even though evidence has come to light that he caught the train, many still like to believe the story!

The conditions of the Melbourne Cup have never changed and not one running of it missed. During war time nearby racetracks were taken over by the army but the Cup was still conducted - its cultural significance recognised.

Legendary trainer Bart Cummings is the undisputed "Cups King." He first gained a taste of Cup glamour back in 1950, strapping his father's winner Comic Court.

One of Australia's best and most loved trainers, he has won the Melbourne Cup eleven times - his horses finishing one/two on five occasions with many bets landed.

Etienne de Mestre is the second most successful Melbourne Cup trainer, preparing five winners between 1861 and 1878 - including Archer.

In more modern times Lee Freedman has been one to follow when placing Melbourne Cup bets, with four winners - Tawrrific, Subzero and Doriemus, and of course, Makybe Diva.

Such is the nature of the Melbourne Cup (there are very few quality staying races) that it is not a race dominated by those at short odds in the betting. Many analyzing the Melbourne Cup betting think it the best race to bet on all year, the pool being so big that there is often great value to be found in the odds.

The last two winners - Efficient and Delta Blues have been at odds of 16-1. Makybe Diva started favourite at her second and third Cups but still at a generous price. In any other race she would have started much shorter odds.

The barrier draw for the Melbourne Cup is an occasion looked forward to by participants. Champagne is sipped as owners are called up to select at random a miniature Melbourne Cup with a barrier number underneath. Many "oohs" by those drawing well and "arghhs" by those not so lucky.

However barriers don't seem vitally significant, number 18 the only one yet to provide a winner.

You really can't ignore Melbourne Cup betting each November with Betfair.