The Melbourne Cup is one of the biggest and most prestigious horse racing events in Australia. It’s become so popular that Melbourne Cup Day has become a public holiday throughout the entire country so that people can watch and bet on the horses.
However, horse race betting is no easy job. There are a lot of factors that bettors need to consider and strategies to follow before placing a bet. But one is certain, if you get your bets correct, there is some big money to be made!
Horse racing, in general, is one of the biggest industries in the entirety of sports betting. Sports betting as an industry itself is hugely profitable and many people from all around the world place bets on different sports every day.
So, it doesn’t matter where you find yourself located, you don’t need to be in Australia to place bets on horses at the Melbourne Cup – there are avenues for everyone to get involved. So, if you’re thinking about wagering on jockeys and horses, this article is perfect for you!
Trust us, you’ll want to get involved for the 2023 edition of the race, as the prize money is currently sitting at over $14 million. Each placing will return different winnings, but there is plenty up for grabs!
So, let’s go through some effective strategies for betting and for getting the best Melbourne Cup odds:
Consider the Distance Ability of Each Competitor
The most obvious tip in any sports betting avenue is to consider the ability of each competitor. This is extremely important in horse racing, and there are various factors that each horse needs to be assessed on.
The first, and arguably the most important factor that each bettor needs to consider is the distance ability of each jockey and horse pairing. What this refers to is how each horse performs at this distance of the current field.
Sometimes, at races like the Melbourne Cup, there will be horses that have great training and extremely strong physical builds, but the problem is that they’ve raced for a distance that matches the track in question.
For instance, it may be better to bet on horses that have previously won over distances more than 3200m, as it is likely that they will be able to handle the entire Melbourne racetrack.
Consider the Weight Rating of Each Horse
Here’s a great piece of insider information for the Melbourne Cup – no horse has won since the year 2000 that had a weight over 56 kg or more. This factor combined with the lengthy distance of the track at the Melbourne Cup means that every kilogram will count.
Before placing your bet, take a look at the weight of every thoroughbred horse that is taking place. Of course, the lowest weight isn’t indicative of the horse that is most likely to win, and picking a horse that places somewhere in the middle might be your best bet.
Whether you’re thinking about placing an Olympiad, trifecta, or exacta, bet the factors above should play a role in your decision on which horses to pick. Take your time, do your research, read the form guides, and you’ll be good to make some big wins!