You are currently viewing Melbourne Cup 2023: Your ultimate guide on how to place a bet on the race that stops a nation

Melbourne Cup 2023: Your ultimate guide on how to place a bet on the race that stops a nation

  • Post category:UK Racing News
  • Reading time:16 mins read


  • 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

Win bet

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.

Place bet

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.

Each-way bet

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.

Quinella

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.

Exacta

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

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

2023 MELBOURNE CUP FIELD 

Key: Number of horse – Barrier – Trainer – Jockey – Weight

1 GOLD TRIP (2) T: Ciaron Maher & David Eustace J: James McDonald 58.5kg

2 ALENQUER (9) T: Michael Moroney J: Damien Oliver 56.5kg

3 WITHOUT A FIGHT (16) T: Anthony & Sam Freedman J: Mark Zahra 56.5kg

4 BREAKUP (18) T: Tatsuya Yoshioka J: Kohei Matsuyama 55kg

5 VAUBAN (3) T: Willie Mullins J: Ryan Moore 55kg

6 SOULCOMBE (4) T: Chris Waller J: Joao Moreira 53.5kg

7 ABSURDE (8) T: Willie Mullins J: Zac Purton 53kg

8 RIGHT YOU ARE (15) T: Ciaron Maher & David Eustace J: John Allen 53kg

9 VOW AND DECLARE (19) T: Danny O’Brien J: Billy Egan 53kg

11 ASHRUN (11) T: Ciaron Maher & David Eustace J: Kerrin McEvoy 51.5kg

12 DAQIANSWEET JUNIOR (12) T: Phillip Stokes J: Daniel Stackhouse 51.5kg

13 OKITA SOUSHI (20) T: Joseph O’Brien J: Dylan Gibbons 51.5kg

14 SHERAZ (22) T: Chris Waller J: Beau Mertens 51.5kg

15 LASTOTCHKA (21) T: Mick Price & Michael Kent (Jr) J: Craig Williams 51kg

16 MAGICAL LAGOON (7) T: Chris Waller J: Mark Du Plessis 51kg

17 MILITARY MISSION (5) T: Gai Waterhouse & Adrian Bott J: Ms Rachel King 51kg

18 SERPENTINE (1) T: Gai Waterhouse & Adrian Bott J: Jye McNeil 51kg

19 VIRTUOUS CIRCLE (6) T: Liam Howley J: Craig Newitt 51kg

20 MORE FELONS (24) T: Chris Waller J: Jamie Kah 50.5kg

21 FUTURE HISTORY (13) T: Ciaron Maher & David Eustace J: Hollie Doyle 50kg

22 INTERPRETATION (17) T: Ciaron Maher & David Eustace J: Teo Nugent 50kg

23 KALAPOUR (14) T: Kris Lees J: Zac Lloyd 50kg

24 TRUE MARVEL (10) T: Matthew Smith J: Ben Thompson 50kg

Trifecta

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

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

Michelle Payne – the only female jockey to win the Cup after her triumph in 2015 – delivers the trophy to Flemington last Monday

First four

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.

Mystery bets

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

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 

BEGINNERS GUIDE TO PLACING A BET ON CUP DAY 

WIN – YOUR HORSE FINISHES FIRST

The easiest way to have a punt on Cup day is picking the horse which you think will be first to the post.

For example, if you put $10 on a runner at $15 odds, you stand to walk away with $150 if luck’s on your side.

PLACE – YOUR HORSE RUNS FIRST, SECOND OR THIRD

If you think your horse has a good chance of running well but might not quite be good enough to win, perhaps you should make a ‘place’ bet.

You’ll then collect money if your horse finishes first, second or third – although the payout will be substantially lower than the win dividend.

EACH WAY – TO WIN AND PLACE

By placing an ‘each way bet’ you stand to collect BOTH the win and place dividend should your horse finish first.

If it runs second or third – you collect the place dividend but will lose the wager you bet on the win.

THE EXOTICS – HIGHER RISK BUT GREATER REWARD 

– QUINELLA

A quinella bet involves picking the two horses you think will finish first and second in any order.

– EXACTA

It’s tough enough picking a winner, but if you think you know which horses will run first AND second in correct order – place an exacta bet for a very healthy return. 

– TRIFECTA

Selecting the first three horses across the line is no easy feat – but if you can pull it off you could walk away with thousands of dollars.

To make things slightly easier, you can ‘box’ your selections – meaning the horses can finish first, second and third in any order. 

This will, however, decrease the percentage of the trifecta dividend you will receive.

– FIRST FOUR  

The only difference between a trifecta and a first four bet is the addition of the fourth place-getter.

Again, you can ‘box’ all four (or as many as you like) so they don’t have to finish in order. 

The more horses you choose to ‘box’ – the lesser percentage of the dividend you will collect.



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