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Thursday, December 2, 2021

Melbourne Cup: Everything You Need to Know

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Horse racing is one of the popular sports in the world. And similar to all other popular sports, it attracts a rich spectator and betting scene. Placing bets on horses is one of the most exciting options that fans and punters have. 

As a result of the fast-paced nature of the horse races, punters and fans can be able to see the Melbourne Cup results quickly, which is great compared with other popular sports such as football and rugby that require them to wait for between two and three hours or even longer.

Individuals who are interested in horse racing will be anticipating the Melbourne Cup competition, an event that has proved to be the world’s most prestigious. Occurring in Melbourne, Australia, the event attracts horse owners and fans from all corners of the world. Here are all of the things that you need to know about the Melbourne Cup.

The Race

The Melbourne Cup is simply a horse race that takes place in Australia. The day that it occurs has always been a holiday in Australia since 1877. It’s run over 3,200m for horses with three years and above. Melbourne Cup is raced at 3 pm on the first Tuesday of November each year. 

Qualifying and Race Conditions

While there is no maximum weight, the allocated weight isn’t below 57kg. The VRC Handicapper declares the weight allocated to every horse that competes in the race. The lowest handicap weight is 50kg. 

The Melbourne Cup event is a handicap contest where the weight of the riding gear and the jockey is adjusted to a nominated figure. Naturally, older horses have more weight compared to younger ones, and the weights are set further based on the horse’s previous results. 

Weights are calculated to provide every horse with an equal winning chance. However, this is an older technique. In recent years, the rules have changed significantly, and the quality handicap formula is the one being used. Superior horses are usually given less severe penalties in terms of weight than the under pure handicap rules.

Fees

Entries for this event normally close in the first week of August. Each horse owner needs to pay an entry fee of £600. Each year, approximately 300 to 400 horses are selected, but only 24 starters are required. After the allocation of the horse weights, each owner must declare the horse as an acceptor and provide the fee. 

The first acceptance is normally £960, while the second is £1,450 and the third is £2,420. On the Saturday before the race, the final acceptance fee is usually £45,375. The final declaration fee is only refunded if a horse is balloted. 

Melbourne Cup Betting

After understanding the event, it is important to know how you can benefit from the Melbourne Cup results, especially if you are a punter. There are many bookmakers across Europe and other parts of the world that offer different types of bets on this event. Some of the betting specials that these bookies offer are:

  • Free each-way wagers for all bets placed
  • Money back if your horse of choice runs second or third
  • Place an early wager and win extra prizes

Many bookies do not reveal their Melbourne Cup special offers until a few days before the start of the race. Aside from the betting specials, you need to know that placing a bet on the event is straightforward. You just need to go through a few steps, which include:

  • Select your betting site of choice
  • Open a new sportsbook account
  • Fund your account
  • Pick your favourite horse and click on the odds
  • Submit your bet

As you can see, the Melbourne Cup offers lots of benefits ranging from winning real money to providing unique entertainment. With lots of betting markets and offers available for you to choose from, you should always keep this event in mind.

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