Melbourne Cup

The Melbourne Cup was first run in 1861, making it one of the oldest major horse races in the world. The inaugural race was won by Archer, who remarkably won again the following year. The race quickly grew in prestige and by the 1870s had become a public holiday in Victoria.

Throughout its history, the Melbourne Cup has produced many legendary moments. Phar Lap's dominant victory in 1930 during the Great Depression lifted the nation's spirits. Makybe Diva's unprecedented three consecutive wins from 2003-2005 cemented her status as the greatest Cup horse of all time.

International raiders have increasingly targeted the race, with horses from Ireland, UK, Japan, and other countries regularly competing. The Cup has also been a launching pad for many champion jockeys and trainers, with names like Bart Cummings (12 wins) becoming synonymous with the event.

Betting on the Melbourne Cup offers numerous market options for punters. The most popular bet is the Win market, where you simply pick the horse you think will cross the line first. Each-Way betting is also popular, paying out if your horse finishes in the top three.

For those seeking better value, exotic bets like Exacta (picking 1st and 2nd in order), Trifecta (1st, 2nd, 3rd in order), and First Four (top 4 in order) offer larger payouts. The Cup's large field of 24 runners means these exotic bets can be highly lucrative.

Futures betting opens months before the race, allowing punters to get early odds on their fancies. These odds typically offer better value but require backing a horse before barrier draws and final acceptances are known.

When betting on the Melbourne Cup, consider these key factors: Previous form over the staying distance is crucial - look for horses that have performed well over 2400m or further. The Cup is a handicap, meaning weight allocations aim to give every horse an equal chance, so don't dismiss lighter-weighted runners.

Barrier draws matter at Flemington, with inside barriers generally preferred over the 3200m journey. The final 500m straight is one of the longest in world racing, favoring horses with strong finishing kicks.

International horses have an excellent recent record, but look for those who have acclimatized well with prep runs in Australia. Finally, track conditions can change quickly in Melbourne - check the weather forecast and how your selections handle different going.