Whether you are new to betting or are a seasoned bettor, this guide will walk you through everything you should know about the Melbourne Cup betting.
Where and How to Bet?
Unlike other races that happen in the country, the Melbourne Cup is the only race that pulls in even once-a-year punters to try their hands with betting. When this is the case, convenience also plays a significant role in betting.
Gone are the days when you had to wait in long queues on race day to place bets. Now, you can easily place your bets online from anywhere, and through any bookmaker who is open to take bets on the 2021 Melbourne Cup betting day.
Apart from convenience, online betting sites also offer various benefits in deals, betting offers, features, and more.
Melbourne Cup Betting Possibilities
When it comes to the Melbourne Cup betting, there are indeed various possibilities for punters. Before you make a wager for the cup, it is essential to study every betting option available and identify the best odds from the pool.
Some of the common Melbourne Cup betting possibilities include:
- Place Bets
- Win Bets
- Each way Bets and more
Each way bets
If you want to place a bet with minimal risk, the each-way bet will be your ultimate betting option. That is because, if you are picking this option, it means you are placing both win and place bets of equal size on a particular horse.
However, the only setback in this betting option is in comparison to box bets; each way does not pay off well.
Win Bets
In general, the majority of the Melbourne Cup bettors wager on the winner. In this type of betting, you can bet on any horse you think will win the race.
Place Bets
Though not very commonly taken up compared to win bets, place bets are also a safe option for punters looking to bet at minimal risk. If you are wagering a place bet, you win the bet simply if your horse finishes first, second or third in the race.
Other Complex Options for Betting on 2021 Melbourne Cup
Apart from the standard bets that both experienced and new punters can wager, a few exotic betting options in Melbourne Cup betting can be pretty complex.
Some of these exotic Melbourne Cup wagers include:
- Quinella Bet
- Exacta Bet
- Trifecta Bet
- Quadrella Bet
- First Four
- Future Betting/Fixed Odds
Quinella Bet
In this option, you can bet on horses that you think will come in second and first, irrespective of the order. Moreover, there are also additional options in quinella to include a more significant number of selections to get a better chance at winning.
Exacta Bet
Contrary to quinella bet, an exacta bet, you have to pick the horses in the correct finishing order to win the wager.
Thanks to the complexity of these options, even experienced punters think twice before trying their luck in it.
If you want to try your hand in Melbourne Cup betting at the comfort of your house without setting foot in Flemington, consider betting if you have not tried it already.
From watching live results to enjoying a good wager with friends and family, online betting on horse racing has always been a part of Melburnian sporting spirit. So why not try your odds online?
