Melbourne Cup Tips

Melbourne Cup Tips

2023 Melbourne Cup Betting Tips & Race Day Preview

Read on for our complete tips and betting guide to 2023 Melbourne Cup Day and get Melbourne Cup tips from an expert with a great record of finding the winner.

Melbourne Cup Top Tip

Our top tip since July was the Grahame Begg-trained Lunar Flare but that mare suffered a career-ending injury when 4th in Friday night’s Moonee Valley Gold Cup (2500m) and has been retired.

With Lunar Flare out, our new 2023 Melbourne Cup tip is the Ciaron Maher and David Eustace-prepared ASHRUN.

Having been off the scene for nearly three years, the eight-year-old son of Authorized resumed his 2023 spring campaign with a 7th placing over 1700m at Flemington.

He then finished 2.7 lengths from stablemate Future History in the Bart Cummings (2520m) while carrying 59kg as the winner and runner-up (First Immortal) carried 54kg. He made up a ton of ground in the straight coming from last of 16 as they entered the straight.

Ashrun secured a Melbourne Cup birth when finishing 2nd in the Geelong Cup (2400m), and in that run he sat better than midfield and would have taken a lot of fitness from the run having sat on pace and grinding away to just miss by 0.3 of a length.

We know this horse can run 3200m as he finished 4.8 lengths from Twilight Payment in the 2020 Melbourne Cup when he was forced to run three days before the race when he took out the Hotham Handicap (2500m). Being a European-trained stayer, the quick back-up would have been something unfamiliar to him, and now that he’s fully acclimatized and seems to be over his injury that ruled him out of the 2021 autumn carnival, he looks ready to run a cracking race.

He gets into the 2023 Melbourne Cup with just 51.5kg, and meets Future History 3.5kg better at the weights – which accounts for about seven lengths over the distance. Half the battle with finding a Melbourne Cup winner is getting on a horse that will genuinely run two miles – and this bloke will. He looks to have beaten the handicapper here and should only continue to improve at his fourth run from a long break.

The stable are confident of a top six finish, and that puts him in striking distance with the right run. Ashrun will jump from gate 11 in the Melbourne Cup, and will be ridden by three-time Melbourne Cup winning jockey Kerrin McEvoy. In my opinion, McEvoy is the best Melbourne Cup rider in the country and as well as winning it three times, he’s finished 7th, 2nd, 6th and 4th in his four rides since last taking the race out aboard Cross Counter in 2018.

 

Watch Ashrun work home stylishly in the 2020 Melbourne Cup 

Best Betting Tip for the 2023 Melbourne Cup


Melbourne Cup Roughie Tip

Originally with High Emocean as the best roughie, but that horse doesn’t seem to have come up and cannot recommend on current form. Another Maher-Eustace, FUTURE HISTORY, takes the spot as best roughie tip for the 2023 Melbourne Cup.

Although I think Ashrun can beat Future History, luck plays a big part in winning a Melbourne Cup, and this six-year-old son of Showcasing looks to have a genuine chance. His all-the-way victory in the Bart Cummings was the effort of a very good stayer, and his 3rd placing in the Moonee Valley Gold Cup (2500m) was full of merit – he looked a bit dour over the concluding stages, and I think he’s crying out for 3200m now.

There won’t be many fitter horses heading into the 2023 Melbourne Cup, and with 13,000km into his legs, he fits the old Bart Cummings method of having at least 10,000km under their belt heading into the Cup.

Best Outsider Tip for the 2023 Melbourne Cup


Melbourne Cup Race Details

Date Tuesday, November 7
Time 3pm (EDST)
Track Flemington
Race No. 7
Prizemoney $8 million
Distance 3200m
Class Group 1
Race Type Handicap
Age 3YO+

 


Melbourne Cup Field 2023

No Horse Trainer Jockey Barrier Weight
1 GOLD TRIP (FR) Ciaron Maher & David Eustace James McDonald 2 58.5kg
2 ALENQUER (FR) Michael Moroney Damien Oliver 9 56.5kg
3 WITHOUT A FIGHT (IRE) Anthony & Sam Freedman Mark Zahra 16 56.5kg
4 BREAKUP (JPN) Tatsuya Yoshioka Kohei Matsuyama 18 55kg
5 VAUBAN (FR) Willie Mullins Ryan Moore 3 55kg
6 SOULCOMBE (GB) Chris Waller Joao Moreira 4 53.5kg
7 ABSURDE (FR) Willie Mullins Zac Purton 8 53kg
8 RIGHT YOU ARE Ciaron Maher & David Eustace John Allen 15 53kg
9 VOW AND DECLARE Danny O’Brien Billy Egan 19 53kg
10 CLEVELAND (IRE) Kris Lees Michael Dee 23 52kg
11 ASHRUN (FR) Ciaron Maher & David Eustace Kerrin McEvoy 11 51.5kg
12 DAQIANSWEET JUNIOR (NZ) Phillip Stokes Daniel Stackhouse 12 51.5kg
13 OKITA SOUSHI (IRE) Joseph O’Brien Dylan Gibbons (a) 20 51.5kg
14 SHERAZ (FR) Chris Waller Beau Mertens 22 51.5kg
15 LASTOTCHKA (FR) Mick Price & Michael Kent (Jnr) Craig Williams 21 51kg
16 MAGICAL LAGOON (IRE) Chris Waller Mark Du Plessis 7 51kg
17 MILITARY MISSION (IRE) Gai Waterhouse & Adrian Bott Ms Rachel King 5 51kg
18 SERPENTINE (IRE) Gai Waterhouse & Adrian Bott Jye McNeil 1 51kg
19 VIRTUOUS CIRCLE (NZ) Liam Howley Craig Newitt 6 51kg
20 MORE FELONS (IRE) Chris Waller Ms Jamie Kah 24 50.5kg
21 FUTURE HISTORY (GB) Ciaron Maher & David Eustace Hollie Doyle 13 50kg
22 INTERPRETATION (IRE) Ciaron Maher & David Eustace Teo Nugent 17 50kg
23 KALAPOUR (IRE) Kris Lees Zac Lloyd (a) 14 50kg
24 TRUE MARVEL (FR) Matthew Smith Ben Thompson 10 50kg

Aaron Hamilton’s Previous Melbourne Cup Tips & Results

Year Horse Placing Odds
2022 Gold Trip 1st $21
2021 Verry Elleegant 1st $11
2020 Persan 5th $41
2019 Vow And Declare 1st $11
2018 Marmelo 2nd $12
2017 Rekindling 1st $15
2016 Hartnell 3rd $5.50
2015 Fame Game 13th $6
2014 Fawkner 6th $8.50
2013 Fiorente 1st $7
2012 Mount Athos 5th $7.50

 


Top 4 betting on the Melbourne Cup with Picklebet

While other bookmakers offer betting on which horse will finish 1st, 2nd or 3rd, Picklebet take it one step further and offer four places for betting, meaning you can back a horse to finish in 4th place too.

Our top tip for the 2023 Melbourne Cup is Ashrun at $41. You can get around $9 with other bookmakers for Ashrun to finish top 3, but you can get $7.50 for Ashrun to finish top 4 at Picklebet, which gives you an extra place chance to cash in.


2023 Melbourne Cup Day Tips – All Races

Our race-by-race guide to 2023 Melbourne Cup Day includes a best bet for every race on the card as well as top four predictions.

Race 1 – 10:45AM Darley Maribyrnong Plate (1000 METRES)

A tough one to start the day with only three of the eight runners having raced previously. Admitted was on debut and defeated Dublin Down who was second-up, so it’s hard to see the latter turning the tables.

Alaa Plenty was snagged back to last from the wide gate on debut and did save ground along the inside but seemed to peak late – ran similar time to the aforementioned pair and should have plenty of upside with Moody & Coleman’s gallopers generally improving significantly second-up.

Blue Stratum is a first starter for the McEvoy stable, and with Zac Purton booked to ride their other horse, Dublin Down, I’d think that horse was the leading chance. Robbie Laing has the knack of producing a good one in this race and he has two chances with Invincible Beau and Pieris. Invincible Beau has had three jump-outs and looks very athletic, while Pieris won his first jump-out but dropped out badly in the next to finish 10th of 11.

Maher and Eustace produce Odinson who came from last of five to win a jump-out effortlessly, and then the two-year-old was 2nd behind the Price and Kent-trained three-year-old Canyonlands in another jump-out. He was in cruise control and the winner was pushed out a bit. Odinson really impressed in both jump-outs and I’m prepared to have a crack at him.

His sire, Night Of Thunder, won by six lengths on debut over 1200m and then won the Listed Doncaster Stakes (1200m) at his second start. He’s thrown some quick types and Odinson can measure up in the opening event.

Top 4 Predictions:

1st – Odinson

2nd – Admitted

3rd – Invincible Beau

4th – Alaa Plenty

 

Race 2 – 11:20AM Furphy Plate (1800 METRES)

Pounding is clearly the class runner here having contested the Group 1 Epsom Handicap (1600m) and Group 1 Toorak Handicap (1600m). Finishing four and five lengths off Group 1 winners should be good enough form for this race. He was also 1.5 lengths 3rd in the Group 1 Australia Cup (2000m) at this track last campaign so the step up to 1800m is no issue.

For a stayer, Aurora’s Symphony has a great first-up record with two wins and two placings from six efforts. He won the Colac Cup (2000m) first-up last campaign and found the line extremely well in a recent barrier trial over 1200m.

Forgot You and Sabaaq both come out of the JRA Cup (2040m) finishing 3rd and 4th respectively, and Forgot You has beaten Sabaaq home in two runs this campaign as well as finishing a length behind Pounding first-up when the pair where behind Mr Brightside in the PB Lawrence Stakes (1400m).

 

Top 4 Predictions

1st – Pounding

2nd – Aurora’s Symphony

3rd – Forgot You

4th – Sabaaq

Race 3 – 12:00PM TAB Trophy (1800 METRES)

This will be a tough race for First 4 players, but there are a couple of standouts to fill the Quinella.

Aztec State was a bit unlucky not to make it two from two last time after being held up at a crucial stage at Caulfield and charging at the winner and runner-up late. Draws the outside gate (10) and hard to place on the speed map without a lot of form to go by, but the outside gate should ensure he’s not locked away on the fence, and as long as Mark Zahra can get cover, he’ll finish hard over the longer trip.

Queen Of Dragons is the only filly in the race and was unlucky not to finish closer than 2.3 lengths from the winner in the Group 2 Cincotta Chemist Callander-Presnell (1600m) at Randwick. She has fitness on her side and should also be finishing hard to fight it out.

Lottery with the rest of them but happy to throw in Savatoff for third as he wasn’t far from Aztec State at Bendigo and then came out and won at that track next start. Binotto has a fitness edge and has been consistent with three placings from four starts including a fourth last time out.

 

First 4 Predictions

1st – Aztec State

2nd – Queen Of Dragons

3rd – Savatoff

4th – Binotto

 

Race 4 – 12:40PM The Schweppervescence Plate (1000 METRES)

James Cummings has the two favourites here and I’m leaning towards the second favourite of that pair.

Barber is the $3.20 favourite and won his first three in a row before failing in the Blue Diamond (1200m). He’s placed once in four subsequent races and looks a shade of his former self.

Stanislaus ran six lengths quicker last start over 1100m at Rosehill than Barber did two starts back at the track and trip, and although Stanislaus goes up 5.5kg on that effort, it’s only a 1000m sprint down the straight and weight doesn’t count for a lot in this instance.

Wiggum has carried 60.5kg at his last two in Adelaide and produced a win and a 2nd, and he looks to have upside and can figure in the finish.

Capitalisation goes in for 4th in a very open contest outside the Cummings pair.

First 4 Predictions

1st – Stanislaus

2nd – Barber

3rd – Wiggum

4th – Capitalisation

 

Race 5 – 1:20PM The Macca’s Run (2800 METRES)

Considering I’m tipping Ashrun as the 2023 Melbourne Cup tip, I should be sticking with Mr Waterville who was only just behind Ashrun in the Geelong Cup (2400m).

The Chris Waller-trained import will be ridden by Joao Moreira and has a solid fitness grounding to run this 2800m contest out strongly. He’s a winner over 3332m in Ireland so the distance isn’t an issue when it will be for most.

Supagirl ran 8.5 lengths quicker than standard BM when winning the Horsham Cup (2100m) by 5.5 lengths and she’ll give a bold sight from out in front.

Insulation hasn’t missed the placings in four starts this time around and may not have been suited dropping back from 2550m to 2400m last time.

Team Captain was 5th in this race last year before finishing 2nd in the Sandown Cup (3200m). He’s second-up and is most likely targeting the Sandown Cup again but can’t be underestimated.

First 4 Predictions

1st – Mr Waterville

2nd – Supagirl

3rd – Insulation

4th – Team Captain

 

Race 6 – 1:55PM MSS Security Subzero Handicap (1400 METRES)

Love Tap was an impressive winner of this race last year, and his first-up run was much better than it reads. He resumed over 1200m finishing 10th of 15, but nothing made ground in that race after they walked early, and Love Tap was one of two runners that actually made any headway at all – everything else stayed in the exact same position. Love Tap is better suited stepping up to 1400m, and with that solid hit-out under his belt, he can go back-to-back in the greys race.

Birkshire Breeze is an interesting runner having raced over long distances in Europe and now resuming in the greys feature on Cup Day. He’s had two jump-outs in preparation for this and I get the feeling he’s here to win and not just use this as a lead-up to something else.

Prince Jofra meets Platinum Wolf 1kg better at the weights for having beaten him by two lengths last time, and it’s hard to see that changing here.

Frost Yourself drops 8kg on her first-up run where she was beaten half a length over 1210m, and she should improve here and will figure in the finish for Jamie Kah.

 

First 4 Predictions

1st – Love Tap

2nd – Birkshire Breeze

3rd – Prince Jofra

4th – Frost Yourself

 

Race 7 – 3:00PM Lexus Melbourne Cup (3200 METRES)

See above for best Melbourne Cup tip and best Melbourne Cup roughie

 

Race 8 – 3:50PM Howden Desirable Stakes (1400 METRES)

Willing to have a crack at $81 chance ROSE OF SHALAA here. Trainer Matthew Williams will potentially saddle up two runners at Flemington on Cup Day with Rose Of Shalaa guaranteed a start and Flying Fizz being the third emergency in this event.

Rose Of Shalaa was runner-up on debut before winning the $125,000 VOBIS Gold Strike (1000m) at Warrnambool. She resumed with a 3.5-length 8th placing in the Listed Cap D’antibes (1100m) at Flemington where she was held up a couple of times and should have finished closer.

She then stepped up to 1400m in the Group 2 Tranquil Star (1400m) at Caulfield where she overraced for the first 600m of the contest and cost herself any chance of figuring in the finish.

The stable clearly have a good opinion of the daughter of Shalaa, and if she can settle this time for jockey Ben Melham, I think she can finish with a booming run and blow this lot away at massive odds.

Top 4 Predictions

1st – Rose Of Shalaa

2nd – Commemorative

3rd – Facile

4th – Komochi

 

Race 9 – 4:35PM The Hong Kong Jockey Club Stakes (1400 METRES)

Cardigan Queen was an impressive winner at Caulfield over 1200m two starts back in a time of 1:08.83 but then didn’t get things to suit when they ran slow early at the same track and trip last start. She settled at the rear of the field and wound up late to grab 4th place in a winning time of 1:10.41. A bit more pace here at Flemington and she can finish over the top of them with an extra 200m. Revolutionary Miss charged home at Caulfield over 1400m and should be ready to peak, while Madame Pommery and Kiwi visitor Skew Wiff go in for 3rd and 4th.

Top 4 Predictions

1st – Cardigan Queen

2nd – Revolutionary Miss

3rd – Madame Pommery

4th – Skew Wiff

Race 10 – 5:15PM Paramount+ Trophy (1400 METRES)

The last race on the card looks a tough one with so many genuine chances. Rise Of The Masses has drawn wide but drops 6kg on his last run where he battled on pace to finish 4th. Should be at peak fitness now and a forward showing is expected. Chorlton Lane has been in the money six of seven runs in his career and has to be included, while Lafargue and Chicago Storm also have great career records and can figure in the finish.

Top 4 Predictions

1st – Rise Of The Masses

2nd – Chorlton Lane

3rd – Lafargue

4th – Chicago Storm

Exacta/Quinella Tips for the 2023 Melbourne Cup

Banking on five horses here. Our top pick ASHRUN goes in at big odds, as does our other roughie tip, FUTURE HISTORY. The favourite VAUBAN has to be included with his strong European form, and Caulfield Cup winner WITHOUT A FIGHT could go on with it despite failing in last year’s Melbourne Cup. SERPENTINE also failed miserably in last year’s Cup, but rider John Allen suggested he didn’t handle the three-day back-up – this time he goes in with a month between runs and could take some catching with Jye McNeil in the saddle

Placing Selections
1st 3, 5, 11, 18, 21
2nd 3, 5, 11, 18, 21
Cost $20 for 100%

2023 Melbourne Cup Trifecta Tips

We are using the Quinella/Exacta bankers in our Melbourne Cup Trifecta tips – and we’ll throw a few others in the mix that could surprise.

Placing Selections
1st 3, 5, 11, 18, 21
2nd 3, 5, 11, 18, 21
3rd 3, 4, 5, 7, 11, 12, 18, 21
Cost $120 for 100%

Melbourne Cup First 4 Tips

In order to cut cost down with the above numbers, we’ll have to place more confidence in ASHRUN and the favourite VAUBAN and use them as bankers for first, while our remaining numbers can go in for 2nd, 3rd and 4th.

Placing Selections
1st 5, 11
2nd 3, 5, 11, 18, 21
3rd 3, 4, 5, 7, 11, 12, 18, 21
4th 3, 4, 5, 7, 11, 12, 18, 21
Cost $240 for 100% or $24 for 10%

Quaddie Tips for Melbourne Cup Day 2023

Quaddie Legs Selections
Leg 1 3, 5, 11, 18, 21
Leg 2 2, 4, 13
Leg 3 1, 3
Leg 4 3, 8, 12, 16
Cost $120 for 100%

Tips for Reading the Melbourne Cup Form

Assessing weight

First of all, the Melbourne Cup is a handicap race and horses are weighted on the ability they’ve shown to date. Those higher up the weight scale are deemed to be the better performed horses. Being run over 3200m, weight has a significant impact on a horse’s ability, and as a general rule of thumb, each half a kilo can slow a horse down by one length. For example, if a horse carried 52kg over 3200m and then attempted the same distance with 55kg, it is estimated that horse’s performance would rate six lengths slower with the heavier weight.

So, theoretically, a horse carrying 57kg would need to be more than four lengths superior to a horse carrying 55kg. Of course, horses aren’t machines and they don’t run to an exact time or rating every time they contest a race over a certain distance, but the weight scale can be used as part of the puzzle solving when trying to find the winner of the Melbourne Cup.

Do Barriers Matter?

Up until, 2021, no horse had ever won from barrier 18 and it was considered the hoodoo barrier in the Melbourne Cup. However, Verry Elleegant broke the hoodoo and won the race from gate 18, so there are no barriers left that haven’t produced a winner. Barrier 5 has been the most successful with nine winners, and beyond that we see a mix of gates from 1 to 19 that have produced between seven and five wins each.

When assessing a barrier as a positive or negative, it’s more important to look at the horse’s racing pattern and see if the barrier suits. Barriers will make very little difference for a horse than likes to lead, but horses drawn wide that like to settle midfield may struggle to find a good position and they may be left covering more ground out wide. Most trainers and jockeys would happy to draw a barrier between five and ten in the Melbourne Cup which boasts a field of 24.

What is the Best Form Race Leading into the Melbourne Cup?

Traditionally, the Caulfield Cup was regarded as the best lead-up form race, but that has changed in recent times. Of course, the Caulfield Cup is still a very strong form reference, but in the past 13 years (2010 to 2021) only two winners of the Melbourne Cup have contested the Caulfield Cup in the same preparation. More recently, the Turnbull Stakes and Cox Plate have been ideal lead-up races, while you always need to respect international form.

NOTE: in the past 13 years, every Melbourne Cup winner has finished top four in at least one of their previous two lead-up. 

Table of Lead-Up Races for Melbourne Cup Winners

YEAR WINNER LEAD-UP RACES & PLACING
2022 Gold Trip Caulfield Cup (2400m) 2nd into Cox Plate (2040m) 9th
2021 Verry Elleegant Turnbull Stakes (2000m)  4th into Cox Plate (2040m) – 3rd
2020 Twilight Payment Irish St Leger (2816m)  3rd (International Race)
2019 Vow And Declare Turnbull Stakes (2000m)  4th into Caulfield Cup (2400m) – 2nd
2018 Cross Counter Voltigeur Stakes (2400m)  2nd (International Race)
2017 Rekindling St Leger (2921m)  4th (International Race)
2016 Almandin Harry White Classic (2400m)  1st into The Bart Cummings (2500m) – 1st
2015 Prince Of Penzance Herbert Power Stakes (2400m)  8th into Moonee Valley Gold Cup (2500m) – 2nd
2014 Protectionist Prix Kergolay (3000m)  1st (International Race) into Herbert Power Stakes (2400m) 4th
2013 Fiorente Turnbull Stakes (2000m)  4th into Cox Plate (2040m) – 3rd
2012 Green Moon Turnbull Stakes (2000m)  1st into Cox Plate (2040m) – 7th
2011 Dunaden Prix Kergolay (3000m)  9th (International Race) into Geelong Cup (2400m) – 1st
2010 Americain Prix Kergolay (3000m)  1st (International Race) into Geelong Cup (2400m) – 1st

Melbourne Cup Betting Sites

Looking for the best betting sites in Australia to place a wager on ‘the race that stops a nation’? We highlight the top 10 Australian betting sites and the newest betting sites that are licensed and regulated within Australia so you can be sure you are betting with a trusted bookmaker.

Free Flemington Betting Tips

Follow the link to find our free Flemington tips and best bets for each and every meeting. Our Flemington tipster previews each meeting and highlights a Best Bet, Next Best & Best Value.

 


Melbourne Cup Tips FAQs

Who is tipped to win the 2023 Melbourne Cup?

The Ciaron Maher and David Eustace-trained ASHRUN is our 2023 Melbourne Cup tip.

What are the different types of betting tips for Melbourne Cup?

At racingbase.com.au, you can find Melbourne Cup best bets, roughie tips, quinella, exacta, trifecta, and first four tips, as well as Quaddie tips for Melbourne Cup Day and First Four predictions for every race on the card.

How do you pick a horse to win the Melbourne Cup?

There's no sure-fire answer, but there are a few key factors to consider when trying to pick a winner for the Melbourne Cup. The first is the horse's form leading up to the race. Look at its recent performances and try to identify any patterns. Is the horse peaking at the right time? The second factor is the horse's weight. In the Melbourne Cup, horses carry different weights based on their age, sex, and performance history. The handicapper will assign a weight that they believe gives every horse a fair chance of winning. The third factor is the barrier draw. This is the order in which the horses will start the race, and it can have a big impact on the outcome. A horse that starts from a wide barrier may need to use up extra energy to get into a good position, while a horse starting from an inside barrier may have an easier run. Fourth factor is the jockey. The jockey plays a big role in getting the horse around the course and into a winning position. Look at the jockey's record and try to identify any patterns. Is the jockey known for winning from behind or from the front? The fifth factor is the horse's breeding. This can give you an indication of how well suited the horse is to the Melbourne Cup's distance and conditions. Some horses are bred for speed, while others are bred for staying power. Finally, consider the odds. This is a good guide to how the market believes each horse will perform. The shorter the odds, the more confident the bookmakers are in that horse's chances. By considering all of these factors, you'll give yourself the best chance of picking a winner in the Melbourne Cup.

Which barrier wins the most Melbourne Cups?

Barrier 5 is the most successful with 8 wins.

When are Melbourne Cup Tips available?

Long range Melbourne Cup tips go live on racingbase.com.au months in advance of the race, but our final selection is published after the final field and barrier draw is declared on Derby Day eve. Tipping early in the Melbourne Cup can help to secure bigger odds but sometimes early speculation is thrown with horses not living up to previous form or not starting in the race.

Who is the Most Successful Melbourne Cup Tipster?

There are many great tipsters out there who can help you pick the winner of the Melbourne Cup, but there is no clear consensus on who is the most successful. Last year, our expert, Aaron Hamilton, tipped Gold Trip at $21 and in the previous year tipped Verry Elleegant at $11. He has provided Melbourne Cup tips for racingbase.com.au for the past 12 years and landed five winners and two placegetters out of 12 winners in that time.

What is the best way to bet on the Melbourne Cup?

There are a few different options when it comes to betting on the Melbourne Cup. You can choose to bet on the race winner, placegetters, or quinellas and trifectas. You can also choose to bet on exotics such as first fours and quaddies. If you're looking to make some quick money, betting on the race winner is probably your best option. However, if you're looking to take a punt on something a little more risky, then placing a bet on an exotic might be the way to go.

How to bet on Melbourne Cup Tips

Once you have found the horse/s you want to back in the Melbourne Cup, you can then place your bets. The most common types are Win, Place and Each-Way bets, but those looking for a big collect will target exotic bets like the Trifecta and First4.