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Best Melbourne Cup Betting Sites in Australia

In the UK it is the Grand National, in the USA it’s the Kentucky Derby and in Australia, the race that really matters is The Melbourne Cup. The highlight of the Australian racing calendar is run at the VRC Spring Carnival at Flemington Racecourse in Melbourne every year on the first Tuesday in November. As you might imagine with a race this prestigious, it is an absolutely massive betting event and if you are going to have a wager or two, this Melbourne Cup betting guide for Aussies should be at the top of your reading list.

Our Australian horse racing betting hotshots have put in hours of research to come up with a list of the top 5 Melbourne Cup betting sites in Australia. If you want to know where to get the best Melbourne Cup odds, the most Melbourne Cup markets and the best Melbourne Cup mobile betting apps then we will point you in the right direction. We also look back at some historic Melbourne Cup moments and give you a hint or two on how to bet (and hopefully win!) on the Melbourne Cup. To get informed, keep on reading!

Best Melbourne Cup Bookies for Aussies

Betting Site Best Feature
BetEasy
5/5

100% AUSSIE

Live Racing

Embodiment of Synergy in the AU Betting Industry!
bet365
5/5

100% AUSSIE

Best Live Streaming

Geo restrictions apply. You must have a funded account or have placed a bet in the last 24 hours to access. Under Australian law, we are required to inform you that Live Streaming on bet365 is exempt from Parts 3 and 4 of the Broadcasting Services (Online Content Service Provider Rules) 2018.
Unibet
5/5

100% AUSSIE

Live Streaming
Expert Edge

Reliable Bookmaker with Flawless Track Record
BlueBet
4.5/5

100% AUSSIE

Weekly Specials

Variety of Betting Markets
PlayUp
4.5/5

100% AUSSIE

Great Sports Coverage

Key Player on the AUS Betting Scene

Truth be told, it was devilishly difficult to decide on the final order of our list of the top 5 Australian Melbourne Cup betting sites. However, we had to pick one to come out on top and after hours of tense deliberations, we finally chose BetEasy as our number one Aussie Melbourne Cup betting site. Both Unibet and bet365 were breathing down their neck but BetEasy just about came on top. Above you can see the final list, and in the next section, we explain why BetEasy is the best choice for betting on the Melbourne Cup.

Stream The Big Race Live With BetEasy!

BetEasy was originally 100% Aussie and the founder is still heavily involved in the day to day running of the operation. The international Stars Group are now the owners of BetEasy but they still have offices in three Australian cities. BetEasy Melbourne Cup futures markets are formed long in advance of the big race so if you want to get a bet on early, BetEasy will facilitate that. They are not afraid to hold an opinion too and sometimes you can get very nice Melbourne Cup odds on horses that are much shorter with other firms (especially European raiders).   

If you are looking for somewhere to stream the Melbourne Cup live on desktop or mobile, BetEasy have got you covered. Members can access BOTH Sky Racing channels every day and watch the very best domestic and international horse racing, including every race at the VRC Spring Carnival. Melbourne Cup markets are plentiful with BetEasy too and a ‘Best Tote’ option is available when placing win and place bets. To find more about one of Australia’s best Melbourne Cup betting sites, check out our extensive BetEasy Review.

  • Live streaming via both Sky Racing channels
  • Odds above the market average
  • A plethora of payment options
  • 100% Aussie bookmaker
Visit BetEasy website

History and Records

Known in Australia as the race that stops a nation, the Melbourne Cup is a huge deal Down Under. These days it is a truly International event with some of the best horses from around the world descending on Flemington Park for Australia’s favourite race. In 1861 the first Melbourne Cup was won by a horse called Archer, who retained his crown the following year. 1876 saw a 12 year old jockey (Peter St Albans) win the race on Briseis, not something you’d likely see happening in this day and age!   

The official race distance used to be 2 miles but since 1972 it is 3200m (18.6m shorter). Irish maestro Dermot Weld was the first foreign trainer to win the race (Vintage Crop in 1993). Few will forget the first female jockey to win the Melbourne Cup. Michelle Payne gave Prince Of Penzance a peach of a ride to win in 2015 and those who backed her were well rewarded at odds of 100/1. Makybe Diva won the race three times in a row (2003-2005) and no other horse has ever managed that feat. Poor old Red Cadeaux is worth mentioning as the only horse to finish 2nd on three occasions.

Melbourne Cup Odds

Want to know the single most important factor when having a bet on the Melbourne Cup? Well, if you are in any way serious about trying to make a profit then it is absolutely crucial that you shop around and locate the best Melbourne Cup odds. In the next section, you will see from our Melbourne Cup odds comparison table that the difference in prices between bookies can be massive and this illustrates exactly why we repeatedly emphasise the importance of getting the biggest Melbourne Cup odds…

Melbourne Cup Odds Comparison

Horse


Bet365


BetEasy


Unibet


Surprise Baby


17.00


17.00


16.00


Vow And Declare


17.00


21.00


19.00


Master Of Wine


17.00


21.00


17.00


Verry Elleegant


34.00


21.00


17.00


Shared Ambition


26.00


26.00


26.00


Search For A Song


26.00


N/A


26.00


Dee Ex Bee


26.00


N/A


34.00


Mer De Glace


26.00


26.00


26.00


King Of Leogrance


26.00


34.00


N/A


Cross Counter


34.00


34.00


41.00


Finche


34.00


34.00


31.00


Warning


34.00


51.00


34.00


Southern France


34.00


51.00


31.00


Prince Of Arran


34.00


34.00


34.00


Master Of Reality


34.00


34.00


26.00


Schabau


34.00


41.00


41.00


Young Rascal


34.00


N/A


23.00


If you look at the 2020 Melbourne Cup odds comparison table above you can immediately see why we are so vociferous about taking the time to shop around for the best price. As an example, say you fancied Verry Elleegant to run a big race. If you had a Unibet account and went looking for the odds for that horse to win the Melbourne Cup you would get 17.00. Sounds good right, and you can bet that some novice punters would take those odds without thinking twice. However, more seasoned punters know that value is king when it comes to betting on any sport and they would have shopped around and managed to back the same horse (for the same race) at odds of 34.00 with bet365.

Another way to work out the overall value of Melbourne Cup betting markets is to calculate the overround. Most Aussie bookies have priced up over 50 horses for the Melbourne Cup so working out the overround is not really practical. However, when the field is finalised to 24 runners you can work out the overround and in our experience, bet365 usually operate at around 107.5 -108.5%, while BetEasy and Unibet are normally pretty evenly matched at around 108-109%. For us, it is best to check the odds with a few bookies before you place your Melbourne Cup wager rather than just relying on the overround to inform your decision.

The Melbourne Cup Tips

With 24 runners and 3200m to run, the Melbourne Cup is a race that requires a bit of luck as well as a lot of ability. A Group 1 handicap, the weights always play a massive part and other things to think about include the draw, the weather and horse form. Sometimes you can think yourself out of backing a winner there is so much information available. That is why we recommend keeping it simple and if you follow our Melbourne Cup tip tips below you will greatly enhance your prospects of backing this year’s Melbourne Cup winner.

  • Stamina Counts: 3200m is a long way and any horse you are thinking of backing for the Melbourne Cup needs to have plenty of staying power. A turn of foot is quite useful too, but if your horse doesn’t stay the trip then having a turn of foot is worthless in the Melbourne Cup. Look for horses that have stayed on well over shorter on their previous runs or even better, keep your eyes peeled that have already won at the trip (or further).
  • Weather Is Vital: The weather conditions have an effect on most outdoor sports, but in horse racing, it is absolutely vital. The ground conditions are influential for the Melbourne Cup and that is what makes futures betting such a risky business. If you back a soft ground horse and the ground comes up quick, your race will be over before it has even begun. That is why we advocate waiting until closer to the day of the race before having a Melbourne Cup bet. At least then you should have a good idea what the ground is going to be.    
  • Draw Bias: Even over such a long distance, the importance of the Melbourne Cup draw bias cannot be underestimated. In recent years especially it has been a big advantage to be drawn middle to high. The last four winners were drawn 17, 22, 19 and 21 so it will be interesting to see if that trend continues. Interestingly, the last horse drawn in Stall 1 to win the Melbourne Cup was 100/1 shot Prince Of Penzance (first stall 1 winner since 1990).     

Melbourne Cup Betting Markets

Given this race’s iconic status in Australia, it is no wonder that Melbourne Cup betting sites give their customers a very big range of markets to choose from. In the next few sections, we look at some of the most popular Melbourne Cup wagers, from simple singles on the win and the place, to more exotic sounding bets like Quinellas and Trifectas. Keep on reading to learn more about some of the most popular Melbourne Cup betting markets…

Melbourne Cup Futures Betting

Futures markets for the Melbourne Cup are formed almost instantly after the previous year’s renewal has finished. Within a couple of weeks most Australian betting sites will have chalked up the odds for the following season’s Melbourne Cup and usually, there will be lots of fancy odds on offer. Win and place betting is available on the Melbourne Cup futures markets, with each way betting an option too. Remember though, Melbourne Cup futures betting is a risky business because if your horse doesn’t get declared for the race, you will be waving goodbye to your stake.

Win/Place/Each Way

When the final declarations are in for the Melbourne Cup most casual punters start placing their bets. Win, place and each-way bets are all popular but it isn’t easy to decide on what price to take. Most Melbourne Cup bookies form their own Melbourne Cup markets, but the three National Tote services all form separate markets too. With Unibet, you can get win and place bets on the ‘Top Tote Melbourne Cup’ market (bets returned at best price across all 3 Totes) but in our opinion, you are probably better off taking the best-fixed odds you can find from Unibet, BetEasy or whichever bookie has the biggest price.

Exacta/Quinella/Trifecta

Looking to strike it rich for modest investment? Well, these are the Melbourne Cup wagers that give you the chance to do just that. With exactas and quinellas, you pick the two horses that you think will finish in the first 2 in the Melbourne Cup. An exacta requires you to predict the correct order of the first two home, while a Quinella requires the first two in any order. Trifectas go one step further (first three home) and in the 2015 Melbourne Cup (100/1 winner) the Exacta paid over $2,000 to $1 and the trifecta was a massive $26,045. You can also bet on the First Four in the Melbourne Cup and in 2015 that paid the princely (of Penzance!) sum of $185,975.00 for a $1 stake!

Match Betting

The race that stops a nation is also a race that stumps a lot of the nation as far as finding the winner is concerned! If you are looking for an alternative option to the above markets, then the Melbourne Cup match betting markets formed by bet365 and Unibet are well worth exploring. In this market the bookie groups 2 or more horses together and forms a separate match betting market. The horse you bet on just has to beat the other horses in the group for you to win. Some good betting opportunities can be unearthed in this market as mismatches can often be found, particularly if the ground comes up very testing (or very quick).

In-Play Melbourne Cup Betting

The bad news is that due to the Interactive Gambling Act, none of our top 3 Melbourne Cup betting sites are able to offer in-play racing betting. However, if you fancy trying something a bit different you can bet in-play on the Melbourne Cup on Australia’s only betting exchange. With the Australian Betfair Exchange you are not betting against the bookie, you are instead paying them a commission for the right to back and lay against fellow punters.

That’s right, not only can you back horses to win with Betfair, you can also bet on them to lose or not to place (lay). You can also back and lay in-play on The Melbourne Cup with the Betfair Exchange. If you are on course you will have a big advantage over punters streaming the race or watching it on TV thanks to the time delay. To find out more, please take a look at our extensive Australian Betfair Exchange review.

Draftstars Melbourne Cup Fantasy Betting

Looking for a completely different way to bet on the Melbourne Cup? Most sports fans will be aware of the explosion in popularity of daily fantasy leagues for sports like AFL, Rugby, Cricket and USA sports like Baseball, Basketball and NFL. Draftstars have daily fantasy leagues for all the aforementioned sports and now they have daily fantasy leagues available for horse racing too!

That’s right! For every day of the Spring Carnival you’ll be able to play daily fantasy horse racing games with Draftstars. Fantasy horse racing leagues can be accessed on mobile and desktop and there should be some massive prizes up for grabs on Melbourne Cup day.

You’ll have to pick a horse in every race, including the big one, and the player with the most points at the end of the day takes home the top prize. Points are awarded for places and winners and the bigger the odds, the more points you get so it can pay to take a risk or two. If Melbourne Cup fantasy betting takes your fancy then our Draftstars review makes for essential reading.

Melbourne Cup Live Streaming

If you are looking for an Australian bookie that has live Melbourne Cup streaming then you won’t go too far wrong with our top 3 betting sites. Unibet and bet365 both offer live streaming of horse racing in Australia; you just need to place a bet on the race to qualify.

With BetEasy, however, you just need to have an active account or positive balance to access the very best in horse racing action, not only from Australia but from around the world. You will have full access to both Sky Racing channels if you sign up with BetEasy so you’ll be able to access Melbourne Cup live streaming quickly and easily.

Melbourne Cup Betting Apps – bet365 is No.1

If you want to bet on the Melbourne Cup on your mobile device, the bet365 mobile apps are among the best in the industry. They were one of the first bookies to realise just how rapidly the mobile betting market is expanding in Australia and the quality of their apps for Android, Apple and other devices really reflects this fact.

If you use an Android-powered phone then you can download the bet365 Android App via your mobile browser by clicking the link on the bet365 mobile site. Users of Apple devices need to head for the App Store to download the bet365 iOS App. It is 36.1 MB in size and those who aren’t in the habit of buying new phones every 6 months will be glad to know only iOS 8.0 or later is required.

Melbourne Cup Betting Sites FAQs

You can have a look at our Melbourne Cup odds comparison table further up this page to see how big the variation in odds can be between bookmakers. For this year’s Melbourne Cup at least, BetEasy were best price about 12 of the 17 horses near the top of the market, more than either bet365 or Unibet. If you fancy a European horse you will likely get better odds with an Aussie bookie like BetEasy than you would with either bet365 or Unibet, two companies with strong links to Europe who will have bigger liabilities on horses from that neck of the woods.     

The only way you can bet in-play on the Melbourne Cup is by opening a Betfair Exchange account. Laws introduced a number of years ago by the Australian government heavily restrict traditional bookies from offering online live betting on sports (on other sports it is possible over the phone). However, the Betfair Exchange is exempt from those regulations due to the fact you are betting against other punters. So, if you want to back (or lay) in play on the Melbourne Cup, the Betfair Exchange is your only option.

So, although you cannot bet in-play on the Melbourne Cup with any of our top 3 betting sites, it is 100% legal for them to offer pre-race betting on the Melbourne Cup. The only thing you need to look out for is whether a bookie is in possession of a current and valid licence and you can rest assured the all of our top 5 bookies are fully legal and licensed. We go into a lot more detail on licensing and security features in our in-depth bookmaker reviews.