Most people think you can only bet on the Melbourne Cup in the few days leading up to the Cup.
But that is incorrect. Not only can you bet on the Melbourne Cup today…you can ‘win’ on the Melbourne Cup TODAY.
Let me give you an example. TAB and other online Bookmakers like SportsBet, Ladbrokes, Crown Bet and William Hill all have markets for the Melbourne Cup. You will find it on their websites usually under the heading of “Futures”.
In the Futures market odds are longer thus offering the chance of higher payouts. BUT….their is a risk factor. The horse you select may not make the final field; It could get injured; Its’ form might go off and the owners and/or trainers may choose not to continue; Usually there is a ballot for the last few places and your horse may get balloted out. These are the negatives.
Now for the positives. You get much better odds betting on the Futures market. Because the prices are longer you might choose to bet on a number of horses. Using ‘bookmaker terminology’ you can ‘lay your bet off’ so as your gamble costs you nothing. That’s what I call ‘winning’. So you could have one or more of the Melbourne Cup horses running in the Cup for you for absolutely no outlay.
My Dad (who was a Bookmaker in the North Western country town of Moree) used to say “Son, showing is better than telling.” So as to demystify what I said above let me give you several examples.
1. You may have a favourite horse who has been nominated for the Melbourne Cup. Let’s say it is WhoShotTheBarman. Remember this horse is a tried and tested horse over the 3200 metres. He ran 3rd in the 2014 Melbourne Cup. In April, this year, he ran 2nd in the Sydney Cup over 3200 metres. I expect him to be in the final Melbourne Cup field providing he doesn’t break down in between now and the 7th of November. WhoShotTheBarman is currently quoted at $67.00 with Crown bet. Let’s say you have a $5.00 bet on him at that $67.00. That means your collect, if he wins, would be $335.00.
But around Cup time I would expect WhoShotTheBarman to be half that price. Let us say $30.
A bet with the TAB or Bookmaker would show a $130 collect for a $5.00 bet. You then need to find a friend, colleague or stranger who wants to back WhoShotTheBarman. You offer to them $35.00. Hence you would be offering them the chance of winning $175. Now you have NO outlay of money. But you still have e the opportunity of a collect of $337.00. Out of this you would have to pay $175.00 to your friend, colleague or stranger. Thus you are left with a potential profit of $160.00…for no outlay! That’s clever betting.
2. The current order of Melbourne Cup favouritism is Almandin $13.00; Hartnell $13.00; Admire Deus $17.00; Humidor $17.00; Order of St George, Red Cardinal $17.00. Tiberian $21.00. If these horses are all in the field on Melbourne on current form I would expect all of them to be under $10.00 odds. If you usually spend $20 betting on the Melbourne Cup why not now have $2.00 on each of these six horses.
My Dad taught me Intelligent gambling is when you endeavour to put the odds on your side. That is exactly what both of these above examples do. But if you are time poor you might want to go to my web page www.PickTheCupWinner.com.au and order my eBook “How To Pick The Winner Of The 2017 Melbourne Cup.”
Max Hitchins - aka MelbourneCupMax - firstname.lastname@example.org - 0419 53 63 73