Melbourne Cup Betting Options

For the vast majority of punters, betting on a winner is the easiest and most popular way of betting on the Melbourne Cup. This simple option requires you to pick a winner. Odds for these bets tend to be good in the Melbourne Cup as it is a handicap race, which in turn means an accurate bet can offer a good payout.

However, betting on a winner can also be a hit-and-miss affair, particularly in a handicap race likely to confound even the most seasoned racing expert. With that in mind you may want to bet each way. This 2008 Melbourne Cup betting option will effectively double your stake, but give you the chance to earn a payout if your horse manages to finish the Melbourne Cup in the top three.

Similar to betting each way on a winner is place betting. Betting on a place is preferable to each way betting for many punters as you are only required to place a single bet.

Instead of backing your horse to win the Melbourne Cup, this Melbourne Cup betting option allows you to select a horse that you feel confident can finish in either first or second place. Place betting also allows you to bet on your two favourite horses and earn two payouts if they both finish placed.

For more conservative punters, or those unable to choose between three favourite Melbourne Cup contenders, betting on a show is the best available 2008 Melbourne Cup betting option. This option is similar to betting on a place, with your bet earning a payout if your horse finishes the Melbourne Cup in the top three.

Betting on a show also allows you to bet on three horses in a particular race, and as such also allows you to collect three times on your bets if all three horses show – no matter what the finishing order.

As part of the Spring Racing Carnival, Melbourne Cup betting markets are likely to feature some multiple betting opportunities. This means that you will have the opportunity to bet on the winners of a selection of Spring Carnival races including the Oaks and Derby. If your picks for all three races win you are likely to earn an excellent payout at high 2008 Melbourne Cup betting odds.