- Don’t know a place bet from a quinella? We have you covered
- Punting terminology explained ahead of Tuesday’s big race
- Full list of all horses in the field with barrier draw and weights
The race that stops the nation is almost upon us, which means it’s time for Aussies who only bet on the horses once a year to figure out how to place a bet as they try to decipher terms like quadrella and exacta.
Daily Mail Australia has broken down exactly what you need to do before you head into your local TAB or pub to enjoy a flutter.
But no matter how you choose to place your wager, cutting through the jargon so you can choose the bet that suits you best is a huge help – and we’ve got you covered.
Two happy punters are pictured at Flemington during last year’s Cup. Follow Daily Mail Australia’s guide to punting and you could be celebrating like them come Tuesday afternoon
The most easily-understood bet – but also the toughest. To work out how much you stand to collect, simply multiply how much you bet by the horse’s odds. So If you bet $10 on a horse at odds of $20, you will collect $200.
You broaden your chances if you put on a place bet, which pays out if your horse finishes first, second or third. But of course, the odds on that happening will be much shorter than the odds on a win.
When your horse salutes, you stand to collect both the win and place dividend. If your nag finishes second or third, you collect the place dividend but lose the wager you bet on the win.
Given the size of the field you will still make a good profit with this bet even if the horse only runs second or third.
Beyond picking single horses are bets involving multiple horses. The simplest of these is the quinella, which is picking the first two finishers in any order.
Similar to the quinella in that you have to pick the first two finishers, but the with the exacta you have to get the order right. This is a good bet if you fancy one horse as a standout to win and want a few options to run second.
Jockey Mark Zahra is congratulated by his wife Elyse after riding Gold Trip to victory in the 2022 Melbourne Cup. The horse will be aiming for two in a row this year
Selecting the first three horses across the line is one of the ultimate challenges – but if you are on the money, you could walk away with thousands of dollars.
You can choose to either select them in order, or to make things a little easier, you can ‘box’ your selections – meaning it doesn’t matter which order they finish so long as they are the first three.
This is a highly popular bet for the Cup given the wide number of chances and the chance of an instant big collect, but the more horses you put into your trifecta the more it will cost you.
Many of the racegoers who hit Flemington every November are more into the fashions and social side of the Cup, which sees many Aussies place their only bet of the year
Michelle Payne – the only female jockey to win the Cup after her triumph in 2015 – delivers the trophy to Flemington last Monday
If the trifecta isn’t hard enough for you, the first four bet adds the challenge of selecting which horse runs fourth.
Again, you can specify the order, or ‘box’ all four to the order doesn’t matter, they just have to fill those top four spots.
If you trust the bookmaker’s computer more than you trust your racing knowledge – or you just want to surrender to fate – you can choose this option with the TAB.
Doing so will allow you to choose the type of bet you want your money on – win, place, quinella, etc – then the algorithm will do the rest of the work.
Vauban (pictured on Derby Day) is the favourite this year – but the Melbourne Cup is famous for being won by unheralded horses instead of highly rated entrants