Melbourne Cup Betting Sites in Australia

Melbourne Cup is by far the biggest horse race in Australia. Punters love to bet on it, so we decided to list our top 5 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 best betting apps.

Best Melbourne Cup Betting Sites

# Betting Site Best Feature


Weekly Specials

  • Melbourne Cup live streaming
  • Great race odds
  • Good Melbourne Cup markets
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Variety of Betting Markets


Best Live Streaming

  • Impressive betting app
  • Live streaming available
  • Competitive Melbourne Cup prices
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. Gamble Responsibly. Call Gambler's Help; National Gambling Helpline: 1800 858 858 or visit 18+


Watch and bet live!

  • Watch live streams
  • Good Melbourne Cup futures
  • Excellent odds
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Reliable Bookmaker with Flawless Track Record


Great App

  • Melbourne Cup well covered
  • Aussie sports also catered for
  • Good betting app
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Traditional Values and Great Betting App


Great Sports Coverage

  • Good Melbourne Cup odds
  • Fantasy betting available
  • Good range of markets
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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 BlueBet as our number one Melbourne Cup betting site.

Both Unibet and bet365 were breathing down their neck but BlueBet just about came on top. Above you can see the final list, and in the next section, we explain why BlueBet is the best choice for betting on the Melbourne Cup.

BlueBet – An Unmatched Racing Offer

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 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).

Melbourne Cup markets are plentiful with BlueBet 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 analysis with our BlueBet review.

  • Odds above the market average
  • A host of betting markets
  • 100% Aussie bookmaker
Visit BlueBet website

How to Bet on the Melbourne Cup

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.

Betting on the Melbourne Cup Online

  1. Choose an Aussie betting site or app from our list of the best
  2. Register your details to open an account
  3. Log in to your new account after verifying your details
  4. Check out the Melbourne Cup bonus offers
  5. Add funds to your new account
  6. Search the horse racing section for Melbourne Cup odds
  7. Select your horse from the list of runners and enter your stake
  8. Confirm your bet

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.

Melbourne Cup Odds Comparison

Simply putting in the work to see which bookie has the best odds for your selection is a quick way of increasing any potential winnings.

We compared the top 15 in the current market according to BlueBet a compared this with bet365 and Unibet. As you can see, in this case it would be better to back current favourite Hitotsu with bet365 as they are offering a higher price.

There are other horses available and this market and the prices offered will all change as the season progresses and the race nears. Always check the markets for any big developments.

Melbourne Cup 2022 Odds
Melbourne Cup 2022
Visit BlueBet
Visit Unibet
Visit bet365
Spanish Mission15.017.017.0
Stay Foolish15.016.017.0
Away He Goes26.031.034.0
Floating Artist26.026.026.0
Crystal Pegasus26.031.034.0

Another way to work out the overall value of Melbourne Cup betting markets is to calculate the overround. Most Aussie bookies price up over 50 horses a long way out from the Melbourne Cup, so working out the overround is not really practical too far out from the race.

However, when the field is finalised you can work out the overround and 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 experts will assess the field to bring you their top tip for the 2022 Melbourne Cup. These selections will be based on current form and all the latest odds.

Make sure you come back to discover our long-range tip for the Melbourne Cup 2022.

Melbourne Cup 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 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 strategy and 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 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 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 in 2015 (first stall 1 winner since 1990).

Melbourne Cup 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-sounding wagers like Quinellas and Trifectas. 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 mean they can get on a horse at bigger ante-post prices months before the off. Win and place betting is available on the Melbourne Cup futures markets, with each way betting an option too.

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.

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 fall with others looking to get on.


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 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.

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 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 to help 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.

In-Play Melbourne Cup Betting

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.

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 betting sites. Unibet and bet365 both offer live streaming of horse racing in Australia.

We believe that bet365 is slightly better, but if you’re a fan of Unibet, their streaming platform is also very good. Both bookmakers have streaming available on mobile and desktop. So in case you want to watch and bet on Melbourne Cup on the go, bet365 and Unibet are great choices.

Bet365 Live Streaming

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.

Betting Site Best Feature


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. Gamble Responsibly. Call Gambler's Help; National Gambling Helpline: 1800 858 858 or visit 18+

Best Melbourne Cup Betting App – bet365 is No.1

If you want to know the best app to bet on the Melbourne Cup, look no further than bet365. The bet365 mobile app is 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.

Fantasy Betting on 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, 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 our Draftstars review makes for essential reading.

Draftstars is the only operator in Australia to offer fantasy Melbourne Cup betting!

History and Records

melbourne cup racing
Date3rd November
PlaceFlemington Racecourse
Distance 3,200 metres (2.0 miles)
Prize pool 8 million AUD
QualificationThree-year-olds and up
First held 1861
Race typeThoroughbred – Flat racing

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 that also includes the popular Victoria Derby and VRC Oaks races. 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 3 occasions. If you want to learn more about the Melbourne Cup history and records, try visiting their official website.

BlueBet is in our opinion the best site for betting on the Melbourne Cup. They offer great odds and a fantastic range of markets. Don't miss giving them a look! Best Melbourne Cup bookmakers

Melbourne Cup Betting Sites FAQs

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 and PlayUp are also great choices. To learn more about the best Melbourne Cup betting sites, take a look at the review above.

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.

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 necks to 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, because they have bigger liabilities in this case.

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.

The only way you can bet in-play on the Melbourne Cup is by opening a Betfair Exchange account. Australian laws 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.