Tips to bet on the Melbourne Cup Australia’s Biggest Horse Racing Event

Anyone who is familiar with horse racing and the Melbourne Cup will tell you that in the horse racing world this is the most unpredictable. The race is run on the first Tuesday of November and the tradition started in 1861 when the first race was held on 17th November. In 1986 the race was held on the first Tuesday of November which marked the beginning of this tradition. The prize money has been raised every year and the 2011 winner won $6 million and a gold cup valued at $500,000. The owner gets 85%, trainer 15% and jockey 5% of the winning money. The top winners are awarded a cash prize ufabet.

The Melbourne Cup is a handicapped race run over 3,200 meters and the race starts at 3 pm local time. The horses have to be three years of age and the minimum handicap weight that the horse carries is 49 kilos, which includes the weight of the jockey and riding gear. The Victoria Racing Club, the organizers of this event have a formula to determine the weight a horse should carry. This criterion has been disputed as riders claim that older horses get an unfair advantage.

Because of the unpredictable nature of this particular race, bets are placed more on superstitions than on past performances, wins, etc. the only horse to win this race for three consecutive years was ‘Makbye Diva’ who won from 2003 to 2005. This particular horse race is so unpredictable that even last year’s winner is a favorite but not a hot favorite in some betting circles. Another superstition is that horses over 4 years are winners. Barriers 11 and 14 are winners and 12 and 15 have never won in the history of this race.

There are so many betting sites that are giving odds and taking bets, but the odds differ on every website. Of course every website claims that they have used past statistics, and predictions which were very close to work out the odds for this year’s favorites. Some of the favorites for this year are; Mount Athos, Americain, Dunaden (Last Year’s winner), Red Cadeaux (Last Year’s runner-up), Brigantin, Shahwardi, Green Moon.

Because of the erratic nature of this race it would be advisable to study what is being said on various betting and Melbourne Cup sites and place your bet based on your knowledge of previous races, trainers, riders and of course the horses. But do not bet just on a single horse, it’s better to spread your bets. You can place your bets right now or wait till the very last when the picture and chances get clearer.