Written by
Chris Flavell
Last time updated
09/12/2023
The Melbourne Cup is by far the biggest horse race in Australia. Punters love to bet on it each year, so we decided to list our top picks for the best Melbourne Cup betting sites.
We’ll also share expert Melbourne Cup tips and odds comparisons. If you want to learn more about how to bet on the ‘Race that stops the nation’, take a look at the rest of the article. You can learn more about everything from Melbourne Cup markets to the best betting apps.
Truth be told, it was devilishly difficult to decide on the final order of our list of the best Australian Melbourne Cup betting sites. However, we had to pick one to come out on top and after hours of assessment, we finally chose BlueBet as our number one Melbourne Cup betting site.
Both Unibet and bet365were close at the line but BlueBet just about came out on top. Above you can see the final list, and in the next section, we explain why BlueBet made it into the winners’ enclosure as the best choice for betting on the Melbourne Cup.
BlueBet is a 100% Australian betting site that knows how to cater to the needs of local punters. Their Melbourne Cup futures markets are formed long in advance of the big race so if you want to get a bet on early, BlueBet will help with that.
They are not afraid to hold an opinion too and sometimes you can get very good Melbourne Cup odds on horses that are much shorter with other firms, especially European raiders.
Melbourne Cup markets are plentiful with BlueBet too and a ‘Best Tote’ option is available when placing win and place bets. Unlike other top Aussie-based bookies, you can also live stream horse racing with them.
To help guide your decision even further on which Melbourne Cup betting site suits you the best, we have also assessed areas of strength. Knowing which bookie has the best live streaming service or top Melbourne Cup markets could sway your choice.
Our extensive assessment of the top bookies in Australia showed us that BlueBet is an excellent overall choice for Melbourne Cup betting. The fact you may have previously bet with them at the track and they are now an on-course bookmaker online brings added trust. It is also their attention to Aussie markets and their Aussie-focused sports blog that made them stand out. The fact they have live streaming is also a bonus.
That said, anyone wanting the best live streaming bookie should probably head to bet365. They boast the best platform in this regard and cover many other sports as well. As you will see in the very next section, we also love their app for Melbourne Cup betting.
When it comes to fantasy Melbourne Cup betting, there is no need to look past Draftstars. The huge prize pools on offer and the unique way of betting means they have this area well covered.
Best Betting App for Melbourne Cup
Australia’s best bookies understand how important having a top betting app is to their customers. All of those on our recommended list have impressive apps for both iOS and Android.
That said, if we had to pick the very best, we’d go with bet365’s offering in this department. They were one of the first bookies to realise just how rapidly the mobile betting market was expanding in Australia and the quality of their apps 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 six months will be glad to know only iOS 8.0 or later is required.
Other betting sites that pushed bet365 close for this feature were Unibet and BlueBet, so be sure to consider what they are offering as well. Scroll through below to find out more.
It is quick and easy to bet on the Melbourne Cup in Australia. Take a look at our step-by-step guide to help you bet on your chosen horse before the off.
It takes just a few minutes from the time you register to the time you place your first wager on this historic contest.
Search the horse racing section for Melbourne Cup odds
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Select your horse and enter your stake
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.
The difference in prices between bookies can be massive and this illustrates exactly why we repeatedly emphasize the importance of getting the biggest Melbourne Cup odds. Joining any of the best online betting sites in Australia will give you quick access to all the odds and the ability to get your stake on at just the right time to ensure you get the value price you are after.
Odds Comparison
Simply putting in the work to see which bookie has the best odds for your selection is a quick way to increase any potential winnings.
We compared the top 10 horses in the next available Melbourne Cup 2023 market to see how prices differed between our recommended bookies. This is a great way to see just why shopping around is so important.
As you can see, if you think Frencesco Gaudi can win the Melbourne Cup in 2023 then you should back the horse with bet365 instead of BlueBet or Unibet.
Another way to work out the overall value of Melbourne Cup betting markets is to alsocalculate theoverround, which is simply the ‘house edge’ a bookie adds to their market. Most Aussie bookies price up over 50 horses a long way out from the Melbourne Cup, so working out the overround percentage is not really practical too far out from the race.
However, when the field is finalised you can work out the overround as an extra guide to the value on offer from one bookie to the next. In our experience, bet365 usually operate at around 107.5 -108.5%, while BlueBet 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.
Melbourne Cup Tips
Our horse racing betting experts will bring you their tips for the Melbourne Cup in 2023. Check back to see who we think is worth considering ahead of the next contest. These will be based on recent form, expected conditions and even jockey booking or barrier draw.
Geo restrictions apply. You must have a funded account or have placed a bet in the last 24 hours to …Read more
Betting Strategy
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. Other things to think about include the draw, the weather and horse form. Sometimes you can think yourself out of backing a winner because there is so much information available.
That is why we recommendkeeping it simple and if you follow our Melbourne Cup strategy below you will greatly enhance your prospects of figuring out 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 distances on their previous runs or even better, have already won at the trip or further.
Weather Is Vital: The weather conditions have an impact 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 could be over before it has even begun. That is why we advocate waiting until closer to the day of the race before having a serious Melbourne Cup bet. At least then you should have a good idea of 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 it has been a big advantage to be drawn middle to high. The last six winners were drawn 17, 22, 19, 21, 18 and 15 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 in 2015 (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 bets, from simple singles on the win and the place, to more exotic wagers like Quinellas and Trifectas that you can also see in harness racing betting or on other daily race meetings. Keep on reading to learn more about some of the most popular Melbourne Cup betting markets…
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. This can be a huge positive for those that regularly follow the sport and it means they can get on a horse at bigger ante-post prices months before the off. Win and each-way betting is available on the Melbourne Cup futures markets.
Remember that Melbourne Cup futures betting is all in, so if your horse doesn’t get declared for the race, you will lose your stake. Waiting for the final declaration stage is the safest option but the odds could be much lower at that stage.
Win/Place/Each Way
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, BlueBet or whichever bookie has the biggest price at the time, especially if you think the price may shorten with others looking to get on.
Exacta/Quinella/Trifecta
Looking to get a bigger return for a 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 a $1 stake and the trifecta was a massive $26,045.
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 two or more horses together and forms a separate match betting market. The horse you bet on just has to beat the other horses 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, or if a draw favours one over the other.
Distance Betting
Another interesting bet for the Melbourne Cup is selecting the winning margin of the champion. You simply have to predict how far a horse will win the race. If you fancy a horse to not only win but storm home in an impressive fashion, then this bet is for you. You can select the winning distance in lengths (eg: to win by three lengths or more). These bets are great for helping you boost the price of a hot favourite.
Alternatively, you may anticipate a close affair and place your stake on the distance to be a head or less. Each distance is priced up by the bookie and can vary depending on who you bet with. Like the outright winner market, it pays to compare these odds too.
Live Betting on the Melbourne Cup
It is not possible to place online live bets, also known as in-play bets, with Australian bookies. Aussie gambling regulations prevent punters from being able to wager online. Instead, customers have to call up and place live bets over the phone.
However, this is even more difficult with horse racing compared to other sports. Aussie bookies just don’t display the in-play odds you see with other sports. Even if they did, the nature of horse racing and how quickly the action unfolds would not suit over-the-phone wagering.
The only way around this would be to join the Betfair Exchange. With Betfair’s exchange betting option, you are not betting against the bookie but are instead paying them a commission for the right to back and lay against fellow punters. This means the regulations for in-play betting don’t apply. For more details, check out our Betfair review.
Betfair is the number one bookie in Australia for placing live bets online. Other bookies require you to call up and confirm your wager but this isn’t the case with Betfair. You can place live bets in just a few clicks.
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-rated betting sites. BlueBet, Unibet and bet365 are all among the best Australian live streaming bookies for horse racing.
We believe that bet365 is a great choice, but if you’re a fan of Unibet, their streaming platform is also very good. Both bookmakers have streaming available on mobile and desktop for horse racing and many other sports. BlueBet offers horse racing streaming free through Racing.com and is a top choice for domestic action.
Bet365 streams thousands of events every year, bringing you top sporting action including games from Europe’s top domestic Soccer leagues and Grand Slam Tennis tournaments, as well as Horse Racing from selected Australian, UK and Irish tracks.
Only available to eligible customers. To watch live sport, UK and Irish racing covered by Racing TV or US racing covered by At The Races, all you need is a funded account or to have placed a bet in the last 24 hours. To watch any other racing, you must place a qualifying bet of at least $1.00 Win or $0.50 Each Way on your selection(s). This applies to singles and Multi bets. Minimum stakes apply to Tote and other pool betting.
Any fixture/event on bet365 which has the Play or Video icon next to it is scheduled to be shown via Live Streaming.
Live Streaming is only available to eligible customers, and availability may be determined by the status of your account. If you are unable to watch live sport with bet365 and you are unsure of why this is, please contact customer support.
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.
Fantasy Betting on the Melbourne Cup
Looking for a completely different way to bet on the Melbourne Cup? Draftstars have daily fantasy contests for horse racing too! For every day of the Spring Carnival, including the Melbourne Cup, you can 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 Draftstars is the place to go.
Draftstars Australia is the number one pick for horse racing fantasy betting. Daily games for the Melbourne Cup Carnival, including the Melbourne Cup itself, means they have fantasy betting well covered
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 the country’s favourite race and the key event when it comes to Australian horse racing betting.
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 race forms part of the Flemington Spring Carnival which also includes the popular Victoria Derby and VRC Oaks races.
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 second on three occasions.
Consider Other Major Horse Races
Anyone who loves betting on the Melbourne Cup doesn’t have to wait a year before betting again. There are plenty of opportunities to use the knowledge you have picked up here to bet on other big races.
Here are just a few of the top choices when it comes to the biggest and best horse races in Australia and Europe.
There are plenty of choices for betting on Australia’s biggest race but the best Melbourne Cup betting sites stand out for a number of reasons. We have rated and reviewed the top choices to bring you our recommended list.
All those we put forward are there because of a number of factors, including great odds and markets, excellent betting apps, live streaming options, and overall customer support. Picking one of these should be the perfect place to start Melbourne Cup betting ahead of the next race.
Always Bet Responsibly
It is vital that any betting you do on the Melbourne Cup – or any other sport – is done so responsibly. It is easy to get carried away with such huge events that have the whole nation tuned in and looking to place a wager.
As soon as gambling isn’t fun anymore, it’s time to stop and get assistance, especially if your betting is getting out of control or you are chasing previous losses. At AussieBet, we take responsible wagering very seriously and it should be at the forefront of your mind too.
BlueBet is our top choice for Melbourne Cup betting sites in Australia but all those on our recommended list stand out for different reasons. Check out our top picks.
All of the top Australian bookmakers will be offering Melbourne Cup odds, meaning that you’ll have enough options to choose from. BlueBet is our top pick, but Unibet, bet365, Palmerbet and PlayUp are also great Melbourne Cup betting sites.
How do I bet on the Melbourne Cup online?
It’s simple to learn how to bet on the Melbourne Cup. You should first find the bookmaker you like from our rated and reviewed list. From here it is only a few quick steps to wagering on your horse.
What Australian bookmaker has the best Melbourne Cup odds?
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. BlueBet, Unibet and bet365 are neck and neck, so it all depends on the horse you pick. If you fancy a European horse you will likely get better odds with an Aussie bookie like BlueBet than you would with either bet365 or Unibet.
What is the best Melbourne Cup app?
Getting the best Melbourne Cup betting app for your mobile device will make checking the odds and betting on the famous race quicker and easier. bet365’s mobile app is among the best around and should have everything you need.
Can I bet in-play on Melbourne Cup?
The only way you can bet in-play on the Melbourne Cup is with the Betfair Exchange. Australian betting regulations restrict traditional bookies from offering online live betting on sports and racing. 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) live Melbourne Cup bets, the Betfair Exchange is your only option.
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