Hello and welcome to your complete guide to how to bet on the Melbourne Cup for 2024. It’s an exciting time and the Melbourne Cup is the biggest horse racing on the calendar. If you’re looking to place a bet on the Melbourne Cup, our guide will get you ready.
How to Bet on the Melbourne Cup
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How to Place a Bet on the Melbourne Cup – Step-By-Step Guide
Placing a bet on the race isn’t a difficult process, but there are some key steps you need to know to ensure everything runs smoothly. With so many bookies available in Australia, there is no one best way to bet on the Melbourne Cup.
The Melbourne Cup is one of the biggest Group One races on the calendar and betting is only one part of it. On top of this page, we have a general Melbourne Cup page that covers every aspect of the race, including; tips, form guide, field, odds, results, history and more. So, if you’re interested in learning more about the Melbourne Cup, definitely check out that page.
When it comes to placing bets on the Melbourne Cup, we break it down for you in this section:
Step 1: Choose Your Bookie
The first thing you’ll need to do is choose your bookie. As we already mentioned, there are plenty of bookmakers available. So, if you’re finding the process of choosing a bookie difficult, we recommend checking out our bookie reviews page.
On this page, we have heaps of information, including horse racing promotions details on each bookie. Having all the key pieces of information on each bookie means you can make an educated decision on which bookie is going to be the best for you. One bookie in particular that has all the bells and whistles is PlayUp.
Step 2: Fill in Sign Up Details
The next step is to fill in your details when signing up. You’ll find the “Sign Up” button is usually in the top right-hand corner of the page, as it is with PlayUp. Follow the prompts with each bookie, filling in all your details as you go through.
The details you’ll need to provide include the likes of your full name, date of birth, email, phone number, address etc. You’ll also be required to confirm your identity before you can withdraw any winnings (you’ll still be able to deposit and place bets before your identity is confirmed though).
Step 3: Make Your First Deposit
Once your account is created, the next thing you’ll need to do is make your first deposit. You can’t place a bet on the Melbourne Cup if you don’t have any money in your account! Making a deposit with a bookie like PlayUp is very easy and it just takes a couple of clicks.
A great responsible gambling feature when it comes to depositing is setting a deposit limit. No matter the bookie you choose to open an account with, it is recommended you set a deposit limit straight away.
Step 4: Get Your Bets Sorted
Now the fun can really get started. It’s time to put a bet on the Melbourne Cup. But which runner are you going to choose? Well, you can check out our horse racing tips page for all the Melbourne Cup tips you’ve been looking for.
There are also plenty of bet types as well, so you don’t only need to choose the runner you like, but also the bet type. Bookies like PlayUp even have Futures Betting available, which means you’re able to place a bet on the Melbourne Cup pretty much all year round.
Melbourne Cup Betting Types 2024
| Win Bet | If you’re new to the world of horse racing and want to start with the simplest bet of them all, then you can’t go past the Win Bet. All that’s involved with the Win Bet is you are placing a bet on the runner you think will win the Melbourne Cup. |
| Place Bet | The Place Bet is another simple betting option and involves placing a bet on the horse you think will finish in the top three of the race. You’ll find the odds for a Place Bet aren’t as good as a Win Bet, but you are now essentially getting three bites at the cherry. |
| Each-Way Bet | If you think a runner might win the Melbourne Cup, but you want to play it safe just in case, then the Each-Way Bet is a great option. With this bet type, you are placing equal bet amounts on a Melbourne Cup runner to win and place. |
| Quinella Bet | Things start to go up another level with the Quinella Bet. With a Quinella Bet, you are picking two horses that you think will finish in the top two and both runners can finish in any order. You are also able to add more than two runners to your Quinella Bet, but the more horses you add to your bet, the smaller the odds. |
| Exacta Bet | If the Quinella Bet isn’t enough for you, you can try your hand at the Exacta Bet. The process is pretty much exactly the same, except now the two horses you pick need to cross the finishing line in the correct order. |
| Trifecta Bet | From two to three horses, the Trifecta bet is similar to the Exacta Bet, but things go up another notch. Here, you are required to pick the first three horses across the finishing line in the Melbourne Cup, in the correct order. |
| First Four | The name probably gives it away here. The First Four is a bet type that involves picking the first four horses across the finishing post in the race, all in the correct order. Just like with the Trifecta Bet, Exacta Bet and others, you can add more than four horses to your bet, to increase your chances of landing the win. |
| Quadrella Bet (Quaddie) | The Quaddie is a much talked about bet type for the Melbourne Cup and it involved picking the winner of four chosen races on Melbourne Cup Day, obviously including the big race itself. Picking the winner of four different races is extremely difficult, so you’ll notice massive odds available for this bet type. |
| Treble | A Treble bet on the Melbourne Cup is exactly the same as a Quaddie, except it’s a touch easier as you only have to pick the winner for three different races on Melbourne Cup Day. It’s a fun bet type if you’re interested in betting on races other than the Melbourne Cup. |
| Double | To make things a little easier for you, a Double bet is also available, which is just like a Quaddie or a Treble, except now you only have to pick the winner from two different races on Melbourne Cup Day. |
| Futures Betting | You can place a bet on the Melbourne Cup at pretty much any time of the year, thanks to Futures Betting. With Futures Betting the only markets that are available are Win and Place Bets, but if you choose to bet well before the event, you’ll likely notice higher odds. |
How to Bet on the Melbourne Cup With an App
If you’re out and about on Melbourne Cup Day, then it is likely you’ll need to bet using your phone. You can always use a bookie’s mobile version of their website, but for a more optimised experience, it is recommended you download their app.
All the best bookies in Australia will have an app, which makes it very easy to place your bets while you’re on the go. It should only take a couple of clicks to get your bets sorted as well, so if you are the kind of person who always tends to leave things to the last minute, you’ll benefit from that.
No matter if you have an iOS or Android device, just head to the relevant app store and search for the bookie you have an account with. You’ll then need to log into your account and from there, it’s all up to you! You can choose the market and runner you want to bet on, as well as your stake amount.
How to Bet on the Melbourne Cup FAQs
We’ve endeavoured to cover every key aspect of our how to bet on the Melbourne Cup page, but if you still have questions, we’ve got answers. We’ve found some of the most common questions people have about this topic and have answered them in this section.
How do you bet on the Melbourne Cup online?
If you want to know how to place a bet on the Melbourne Cup, then you’ll be pleased to know the process is pretty simple. You’ll need to choose a bookie and then sign up with them. After that make a deposit and choose the runner/ market you want to bet on.
Who to bet on the Melbourne Cup?
There are heaps of horses to bet on the Melbourne Cup for 2024 so it can be difficult to choose. When it comes to which horse to bet on in the Melbourne Cup, OnlyRacing’s Flemington tips can provide some guidance.
Where can I bet on the Melbourne Cup?
Every Australian bookie will provide markets for the Melbourne Cup, so you can bet with any bookie in Australia. The hard part is choosing the bookie in the first place, but if you check out our bookie reviews page, this can help make the choice a little easier.
How much did the Melbourne Cup trifecta pay?
In 2023, the results for the Melbourne Cup were Without A Fight (first), Soulcombe (second) and Sheraz (third). The three horses that made up the trifecta resulted in $12,423.20 from UTAB.
When can you bet on the Melbourne Cup?
You can bet on the Melbourne Cup any time of the year with a bookie that offers Futures Betting for the race. The Melbourne Cup is one of the biggest races of the year and plenty of people want to get their bets sorted as early as possible.
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