Bet on Melbourne Cup Online » Starter's Guide & 8 Best Betting Sites

If you're an Australian resident and over the age of 18 you can bet on the Melbourne Cup online with any betting site on this page.

Melbourne Cup betting for 2023 began as soon as the 2022 Melbourne Cup finished, however, most bets are placed the day before, or day of, the Melbourne Cup!

Bookies are expecting over $200 million to be wagered on the Melbourne Cup in 2023.

Use the following menu to jump to the section of this page that interests you most or just keep scrolling!

Our 8 Best Melbourne Cup Betting Sites

Neds

Best Overall
  • High 'Place' fixed odds
  • Same Race Multis & exotics
  • Detailed comments & price info
  • Best of the Best, Best Tote + SP & Top Fluc
  • No live streaming
  • Better fixed odds do exist
Why we like them
Best Racing Bookie in Australia
Visit Go to Neds
Website: neds.com.auFounded: 2017
Owner: Entain plcHeadquarters: Bowen Hills, Queensland
Summary
Author: Mason Kelliher Mason Kelliher

Neds only launched in 2017 but it has quickly become one of Australia's most recognisable bookies. We reckon that Neds is Australia's best horse racing betting site because they offer punters a huge variety of markets, features, race day statistics and price information, and, of course, great odds. We also like that Ned's support team is available 24/7, that their app for Apple and Android phones is fast and packed with features, and that they accept PayPal and many other instant deposit methods.

Neds.com.au

Read full review

PlayUp

Best odds
  • Best 'Win' fixed odds
  • High 'Place' fixed odds
  • Simple, easy & Aussie-owned
  • Best Tote + SP & Best of the Best odds
  • Limited extra features
  • Fewer ways to pay
Why we like them
Generous Bookie, Best Fixed Odds
Visit Go to PlayUp
Website: playup.com.auFounded: 2007
Owner: PlayUp Interactive Pty LtdHeadquarters: Sydney
Summary
Author: Mason Kelliher Mason Kelliher

PlayUp is one of Australia's newest betting sites (launched 2019) and is quickly making a name for itself as one of the best - especially among professional punters. You can expect fast and simple betting apps, a really helpful customer support team, plenty of generous extras, a top fantasy betting platform in Draftstars, Same Game Multis, Best Tote odds, and most importantly - the best fixed odds offerings in Australia. Overall, PlayUp is a great choice for both serious and casual punters - especially if you're looking for high odds without all of the gimmicky features of other bookies.

Playup.com.au

Read full review

Bet365

Value on Outsiders
  • Best 'Place' fixed odds
  • Best odds on underdogs
  • Most payment options
  • Best Tote & Top Fluc odds
  • No speedmaps or tips
  • No Same Race Multis
Why we like them
Biggest Bookie in the World
Visit Go to Bet365
Website: bet365.com.auFounded: 2006
Owner: Hillside (Australia New Media) Pty LimitedHeadquarters: Darwin
Summary
Author: Lewis Parker Lewis Parker

Bet365 is the biggest betting site in the world - and for good reason. Bet365 Australia has everything - the most markets to choose from, the most deposit and withdrawal methods, the best live streaming and live betting services, and some of the best odds. While the old-spreadsheet design might put some punters off, it's hard to look past the sheer range of markets and features offered by Bet365 Australia.

Bet365.com.au

Read full review

Unibet

Easy to Use
  • Best fixed odds for certain horses
  • Very user friendly with betting tips
  • Speedmaps & price fluctuations
  • Best Tote + SP & Top Fluc odds
  • Customer support not 24/7
  • App in need of an update
Why we like them
Many Markets & Payment Options
Visit Go to Unibet
Website: unibet.com.auFounded: 1997
Owner: Kindred GroupHeadquarters: Sydney
Summary
Author: Lewis Parker Lewis Parker

Unibet is a well-rounded international betting site with something for every Australian punter. With a top-notch live betting interface, Apple Pay, PayPal, Neteller & Skrill payment options, and some of the best Australian racing and sports odds in the country you’ll definitely have a quality betting experience at Unibet. Unibet Australia is also a top betting site for horse racing and live streaming and the Unibet blog is a great place to find tips and predictions from betting experts.

Unibet.com.au

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Palmerbet

Many features
  • Best fixed odds for certain horses
  • Race comments and predictions
  • Weather and track information
  • Best Tote + SP & Top Fluc odds
  • Missing some special markets
  • Odds could be better
Why we like them
20+ Weekly Promos
Visit Go to Palmerbet
Website: palmerbet.comFounded: 2013
Owner: Palmer Bookmaking Pty LtdHeadquarters: Sydney
Summary
Author: Mason Kelliher Mason Kelliher

As one of the few truly competitive Aussie-owned bookies, Palmerbet has become a popular choice for both serious and casual punters alike thanks to their quality betting apps, aggressive odds & high limits. Since 2013, Palmerbet has offered 100+ markets for popular sports, fixed odds and Best Tote odds for racing, as well as plenty of stats, previews, live streaming and predictions for all Aussies trying to get a bet on. As a well-rounded, transparent, and fun betting site, Palmerbet is a great choice.

Palmerbet.com.au

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BlueBet

Aussie-Owned
  • Competitive odds all-round
  • Quick multis & mystery bets
  • Protest payout & special bets
  • Best Tote + SP & Top Fluc odds
  • Slight delay in streaming
  • Card/bank withdrawals only
Why we like them
Small Local Bookie, High Odds
Visit Go to BlueBet
Website: www.bluebet.com.auFounded: 2015
Owner: BlueBet Pty LtdHeadquarters: Sydney
Summary
Author: Mason Kelliher Mason Kelliher

If you're looking for a true blue Aussie bookmaker then BlueBet is a great choice. 100% Australian owned and run by veteran bookie Michael Sullivan, BlueBet provides one of the best betting experiences for Aussie punters. Top BlueBet features include same game and same race multis, cash out, social betting, low minimums, best tote + SP, and a protest payout. As one of the smaller players, you can also be sure that you'll get great customer service from BlueBet as well as some pretty aggressive odds on outsiders.

Bluebet.com.au

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Ladbrokes

Reliable Choice
  • High 'Place' fixed odds
  • Same Race Multis & exotics
  • Detailed comments & price info
  • Same odds and options as Neds
  • Better fixed odds do exist
Why we like them
Quick Payments & Great Support
Visit Go to Ladbrokes
Website: ladbrokes.com.auFounded: 1886
Owner: Entain plcHeadquarters: Brisbane
Summary
Author: Nick Albert Nick Albert

Founded in 1886 in the UK, Ladbrokes moved to Australia in 2013 where it has since made a name for itself as one of Australia's most popular betting sites. Ladbrokes Australia acquired Neds in 2018, so you will find similarly great racing markets and features on the two bookies including full-form guides, racing and betting stats, and price fluctuations. With fast deposits, a range of top sporting markets, consistently high odds, and simple, secure betting functionality, Ladbrokes definitely deserves its status as one of Australia's best bookmakers.

Ladbrokes.com.au

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MidasBet

New in 2022
  • Competitive fixed odds prices
  • Newly launched in July 2022
  • Top Fluc & Best of the Best odds
  • Fewer markets and features
  • No native betting app
Why we like them
Excellent for Racing, Launched 2022
Visit Go to MidasBet
Website: midasbet.com.auFounded: 2022
Owner:Headquarters: Sydney, NSW
Summary
Author: Mason Kelliher Mason Kelliher

Built on the popular GenerationWeb betting platform, MidasBet is a new bookmaker that focuses on offering a simple, deep, and reliable product with plenty of generous extras. MidasBet launched in July 2022 and offers all popular betting options including local and international horse and greyhound racing plus pre-match and futures markets for around 15 different sports. Racing is MidasBet's key strength, with Best Tote odds for all Aussie gallops, plus exotics, full form guides, price flucs, fixed win and place odds, and racing futures.

Midasbet.com.au

Read full review

List of the Best Melbourne Cup Betting Sites 2023

  1. Neds - Most complete Melbourne Cup bookie
  2. PlayUp - Best Melbourne Cup odds overall
  3. Bet365 - Best odds on Melbourne Cup outsiders
  4. Unibet - Easiest Melbourne Cup bookie to use
  5. Palmerbet - Many Melbourne Cup betting features
  6. BlueBet - Australian-owned Melbourne Cup bookmaker
  7. Ladbrokes - Same Melbourne Cup options as Neds
  8. MidasBet - New Melbourne Cup betting site in 2022
Neds Australia App

Neds has high odds, features like same race multis, and an extensive selection of Melbourne Cup previews, tips and guides making it our experts' favourite betting site for the Melbourne Cup.

Playup Australia App

PlayUp has fewer features than Neds but with a simpler interface, higher fixed odds prices and excellent customer service it may well be a better option for you

What is the best Melbourne Cup Betting Site?

Mason Kelliher
Mason Kelliher - Editor-in-Chief & AFL Tipster

The best Melbourne Cup betting site is Neds, especially if you are a beginner.

Neds has great Melbourne Cup odds, for all horses and bet types, plus a bunch of additional features and stats to help you make informed bets.

If you are looking for the very best Melbourne Cup odds then Bet365 and PlayUp are also great Melbourne Cup bookmakers.

These sites have fewer features but they are both very easy to use, their odds are the highest, and they still offer a variety of single, multi, and exotic bet types for the Melbourne Cup.

Want more info about these Melbourne Cup bookmakers?

Towards the bottom of this page, we go into detail about each of the 8 best Melbourne Cup betting sites listed above. Here we cover things like the markets, features and payment options offered for Melbourne Cup betting.

Want to see more Melbourne Cup betting sites?

We also have a longer list of 10 Melbourne Cup Betting Sites & Apps in our article about where to bet on the Melbourne Cup or you can check out our complete list of all online bookmakers in Australia - they all offer Melbourne Cup betting online as well.

Melbourne Cup Betting Introduction: Field & Odds

24 horses will take to the track at Flemington Racecourse at 3pm on November 7, 2023 for this year's Melbourne Cup with all the best betting sites in Australia offering odds for the race.

In fact, Melbourne Cup betting begins months before the event even starts with betting sites offering futures bets on winners and place getters before the final field has even been decided.

The final Melbourne Cup field for 2023's race was announced on November 4th, the Sunday before Tuesday's race.

Melbourne Cup 2023 Best Odds

Runner (Win)Best Odds Found
Vauban4.60 at chasebet.com.au
Without A Fight7.00 at readybet.com.au
Gold Trip8.00 at chasebet.com.au
Absurde11.00 at chasebet.com.au
Soulcombe11.00 at readybet.com.au
Lastotchka19.00 at colossalbet.com.au
Breakup20.00 at chasebet.com.au
Future History20.00 at palmerbet.com
Vow And Declare26.00 at betr.com.au
Military Mission26.00 at betright.com.au
More Felons26.00 at elitebet.com.au
Right You Are34.00 at colossalbet.com.au
Ashrun34.00 at bluebet.com.au
Serpentine41.00 at playup.com.au
Kalapour51.00 at readybet.com.au
Daqiansweet Junior91.00 at chasebet.com.au
Interpretation91.00 at chasebet.com.au
Okita Soushi101.00 at neds.com.au
Sheraz151.00 at elitebet.com.au
Magical Lagoon151.00 at elitebet.com.au
True Marvel151.00 at elitebet.com.au
Virtuous Circle201.00 at elitebet.com.au

Melbourne Cup Race Details

  • Date: Tuesday November 7, 2023
  • Time: 3pm Australian Eastern
  • Track: Flemington Racecourse
  • Race Number: 7
  • Distance: 3200m
  • Conditions: Handicap
  • Status: Group 1
  • Prize Money: $8 million
  • First Run: 1861

To bet on the 2023 Melbourne Cup you will need to choose an online betting site and create a free online betting account - this takes about 2 minutes. After, you will need to deposit some money and choose a horse (or horses) and a bet type.

Popular Melbourne Cup bets include Win and Place bets but also exotics like Quinellas, Exactas, Trifectas, and First 4's which can pay out a lot of money. Read more about the different Melbourne Cup bet types here.

How to Place a Bet on the Melbourne Cup (5 Steps)

To place a bet on the Melbourne Cup, choose a betting site and create a new account. Next, make a deposit and then navigate to the Melbourne Cup section. Finally, pick one or multiple horses to bet on and then submit your bet.

You need to be an Australian resident and at least 18 years old to bet on the Melbourne Cup.

You can use this link to go to our full guide explaining how to bet on the Melbourne Cup online, including how to place various different kinds of bets online.

1
Choose a Melbourne Cup Betting Site

Choose one of the 8 best betting sites for the Melbourne Cup listed on this page, or any of Australia's best betting sites for that matter. They are all pretty similar and they all offer odds for the Melbourne Cup.

Our experts recommend Neds, PlayUp and Bet365 for the Melbourne Cup because these sites generally have the best Melbourne Cup odds.

  • Neds.com.au - High odds across the board & a full Melbourne Cup guide
  • PlayUp.com.au - The best 'Win' odds & easy to use apps/website
  • Bet365.com.au - High 'Place' odds & many different payment options
How to bet on melbourne cup choose a betting website
2
Sign Up With Your Chosen Bookmaker

After choosing a Melbourne Cup bookmaker simply select one of the "Visit" buttons on this page to go to the website.

You will need to create a betting account so look for the "Join", "Sign Up" or equivalent options.

Then enter your basic personal information (which is needed to verify that you are legally allowed to bet online in Australia).

Information needed to create a betting account for the Melbourne Cup includes your full name, email, phone number, address, and date of birth.

How to bet on melbourne cup create a betting account
3
Make Your First Deposit

Before you can bet on the Melbourne Cup, you will need to deposit money into your newly created betting account. Go to the "Payments" section, find the "Deposit" window, choose an option and amount to deposit and then confirm your payment.

Depositing on a betting website is just like making an online shopping purchase and you will have a range of different deposit methods (depending on your bookmaker) which may include PayPal, Credit/Debit Card, Bank Transfer, BPAY, POLi and more.

Some payment options like cards and PayPal are processed instantly.

All of the Australian betting sites that we recommend hold gambling licences and all online betting payments are secured by the latest SSL encryption technology.

How to bet on melbourne cup make a deposit
4
Find a Melbourne Cup Horse to Bet On

You will need to find the correct race to bet on. You can either search for "Melbourne Cup" or instead navigate to the "Racing" section, select "November 1st", then "Flemington" and finally "Race 7" to find the Melbourne Cup field.

You have many different options for Melbourne Cup betting. Popular Melbourne Cup bet types include "Win" (a bet that your horse will finish first) and "Place" (a bet that your horse will finish in the top 3) bets as well as "Each Way" (a bet on a horse to both Win and Place) and "Exotic" (bets on multiple horses to finish well) bets.

Remember that higher odds, mean more winnings but that high odds also represent less likely outcomes.

How to bet on melbourne cup find a bet
5
Place Your Melbourne Cup Bet

After selecting the Melbourne Cup horses that you want to bet on, you will need to place your bet. Navigate between different bet types until you see the bet type that you want. Then select the horses that you want to bet on by choosing the odds that you accept for that horse.

This will open your "Bet Slip". In your bet slip, you need to enter how much money you want to bet on each horse or exotic. You will also see how much you can expect to win should your bet be correct.

If you are happy with your selections, "Confirm" your bet and you are done!

How to bet on melbourne cup place your bet

Ready to bet on Melbourne Cup 2023?

Neds

Best Racing Bookie in Australia

Neds is arguably the most user-friendly Melbourne Cup betting site in Australia (which is why we used screenshots from Neds above).

Founded in 2017 and owned by the same company that runs Ladbrokes, Betstar and Bookmaker, Neds is a reliable Melbourne Cup betting site with it all.

You can expect to find expert tips and race comments for the big race along with a range of betting options including Win and Place bets, Exotics, and special bet types like Favourite vs Field and Odd vs Even.

Neds' odds are competitive, especially for Place bets (PlayUp or Bet365 is a better choice for Win bets).

Most Common Melbourne Cup Bet Types

Betting on the Melbourne Cup can be very straightforward, or pretty complicated. Much of this depends on what types of bets you place.

Win and Place bets are the most common Melbourne Cup bets but you can also place exotics, same race multis or even unique special bets.

Different bet types allow you to bet on increasingly unlikely outcomes. In this way, certain bet types are popular with punters who a looking for a big return.

For example, the Trifecta payout for the 2020 Melbourne Cup was $1806.00 for a $1 bet.

All Melbourne Cup Bet Types

  • Win - You bet on one horse to come 1st
  • Place - You bet on one horse to come 1st, 2nd or 3rd
  • Each Way - You place two bets on one horse to Win & Place
  • Quinella - You bet on two horses to come 1st and 2nd (in any order)
  • Exacta - You bet on two horses to come 1st and 2nd (in the correct order)
  • Trifecta - You bet on three horses to come 1st, 2nd, and 3rd (in the correct order)
  • First 4 - You bet on four horses to come 1st, 2nd, 3rd, and 4th (in the correct order)
  • Double - You bet on two horses to Win, in two different nominated races
  • Treble - You bet on three horses to Win, in three different nominated races
  • Quaddie/Quadrella - You bet on four horses to Win, in four different nominated races
  • Same Race Multi - You bet on two or more horses to finish in the top 1, 2, 3 or 4 positions
  • Special Bets - May include mystery bets, favourite vs field, or odd vs even bets

*Note that for any given bet you can bet on more horses than the number of horses needed for your bet to win. For example, I could place a Quinella with 3 horses and only 2 of those need to finish first and second for my bet to win.

How to bet on melbourne cup trifecta

If you want to place an exotic - like a "Trifecta" - you can select the Trifecta tab. You can then select the horses for your Trifecta by selecting the boxes to the right of the screen. Each box represents a finishing position so in this example, the three horses selected can finish either first, second or third.

What Melbourne Cup Bet Type is Best?
Ben Smith
Ben Smith

For first time bettors, Win and Place bets are great because they are easy to understand. Win bets are better if you are looking for a bigger return but Place bets are less risky.

For casual punters, Exotics are great because the payout can be huge. Depending on how confident you are of your selections you can choose between a simple Quinella all the way up to a First 4.

While all professional bettors have their own strategies (which usually involve finding and exploiting undervalued horses) the Quaddie can be very appealing as there is plenty of value to be had in correctly selecting winners from 4 different races.

What is a boxed exotic?

When you "Box an Exotic" you can make as many selections as you like.

For example, a Trifecta requires that you pick the first 3 horses to finish, in the correct order.

However, when you "box" a trifecta, you can pick 3 or more horses to finish in any order.

That's because a "Boxed Trifecta" covers all variations that the horses can finish in so that your bet will be correct, as long as 3 of the horses that you "box" finish 1st, 2nd and 3rd.

The cost of boxing exotics varies depending on the type of exotic that you choose and how many horses you select.

If you place a "Boxed Trifecta" with a $1 bet per selection the cost will be:

3 Horses = $6
4 Horses = $24
5 Horses = $60
6 Horses = $120
7 Horses = $210
8 Horses = $336
9 Horses = $504
10 Horses = $720

What is a flexi exotic?

Flexi betting allows you to specify exactly how much you want to wager on your exotic, no matter how many selections you make.

Flexi betting makes creating large "Boxed Exotics" as inexpensive as you want them to be.

For example, if you want to place a "Boxed Trifecta" with 6 horses the normal cost for a $1 bet on each selection would be $120.

You can set your budget at any amount, let's say $20.

If you win you will then receive 16.67% of the Trifecta payout (because $20 is 16.67% of the $120 it would normally cost to place your "Boxed Trifecta").

Understanding Different Melbourne Cup Odds Types

One of the things that will sometimes confuse new Melbourne Cup bettors is what the different odds offered mean - and why odds for exotics like trifectas are not shown.

If that's you, we hope the information below helps!

All Melbourne Cup Odds Types

  • Fixed Odds - Offered for Win and Place bets. The odds you see are the odds you will get.
  • Starting Price - Offered for Win bets (often in combination with Best Tote odds). Starting Price is the final price for a horse when the betting market closes.
  • Best Tote/Top Tote - Offered for Win bets (often in combination with Starting Price odds). Best Tote is the best tote price offered by the 3 major Australian TABs.
  • Middle Tote - Offered for Place bets. Mid Tote is the second-best tote price offered by the 3 major Australian TABs.
  • Top Fluctuation - Offered for Win bets. Top Fluc is the best price offered by the bookmaker in the 30 minutes before the market closes.
  • Exotic Odds - Determined after the race by dividing the total amount of money the whole betting community spent on the exotic type that you chose by the cost of your winning exotic selection.
Different melbourne Cup Odds Types on Neds

In this image you can see that different odds types may give you slightly different payouts. Tote prices could be bigger or smaller that the fixed price (depending how popular the horse becomes with local TABs). In some cases, a horse's fixed price will drop, other times it will increase. If you think it may drop then you want to take the fixed odds price, if you think it may increase then the Starting Price is your best choice. Often, Best + SP is the safest choice.

You will notice that Australia's TABs (Totalisers) impact the price of tote odds. TABs are not like the corporate bookmakers on this page and their odds for each horse is determined by the amount of money that is wagered on each horse by the betting community.

Thus, the most popular horses have the lowest odds.

Corporate bookmakers tend to offer you either the Best Tote odds, the starting price odds, or their own fixed odds for win bets. For place bets, they offer you the Middle Tote price or their own fixed odds price.

Because of this, corporate bookmakers almost always have the best odds for horse racing in Australia.

Bet 365 melbourne cup betting site

If you're looking for a simple Melbourne Cup betting sites with good odds, Bet365 is great choice

Barrier Numbers, Weights & Figuring Out Who to Bet On

We wish we could tell you exactly who to bet on for the Melbourne Cup but, if we knew that, we would probably relaxing on a beach somewhere and not working on this page!

However, we can give you some interesting stats and facts that might give you a better idea of who to bet on for Melbourne Cup 2023.

If you're looking for Melbourne Cup betting tips then check out sites like Punters or even bookmakers like PlayUp or Neds.

Melbourne Cup Betting: Which Barrier Numbers Are Best?

Horses running from barrier number 5 have won the most Melbourne Cups (eight cup wins).

Barriers 10, 14 and 19 have seven cup wins each, barrier 11 has six wins and barriers 1, 4, 6, 8 and 17 have five wins each.

Barrier 18 has never had a Melbourne Cup winner.

Melbourne Cup Betting: How Weight is too Much?

Horses carrying 53kgs have been the most successful with nine Melbourne Cup victories.

There have been eight wins with 54.5 kgs and 52.5 kgs respectively and seven wins with horses carrying 56kgs.

Only the great Makybe Diva has won the Melbourne Cup carrying 58kgs or more.

Last year's Melbourne Cup winner Very Elleegant carried 57kgs as did 1977s winner Gold and Black.

Melbourne Cup Betting: What's the Perfect Age?

Four-year-old runners have been the most successful in past Melbourne Cups with 45 wins.

Five-year-olds are nearly as successful with 44 wins, then six-year-olds with 34 wins, three-year-olds with 24 wins and seven-year-olds with 11 wins.

Eight-year-olds have only won the Melbourne Cup 3 times.

Melbourne Cup Betting: Should You Bet on the Favourite?

8 of the last 39 Melbourne Cup winners have been favourites although only 1 favourite (Fiorente) has won since Makybe Diva won back-to-back Melbourne Cups in 2004 and 2005.

The average finishing position for favourites in the last 39 years has been 12th.

So, if there's a four-year-old horse in the 2023 Melbourne Cup drawn on barrier number 5, carrying 53kgs, that's not the favourite then you should be on them - at least that's what history tells us.

Melbourne Cup Betting Quick Facts
Mason Kelliher
Mason Kelliher - Editor-in-Chief & AFL Tipster
  • Since 2006, only four Melbourne Cup favourites have finished in the top 3
  • 13 of the last 16 Melbourne Cup winners have had odds higher than 10.00
  • Since 2000, 12 Melbourne Cup winners have also won either the Caufield Cup, Cox Plate, or Geelong Cup in the same years
  • In the last ten years, the average weight carried by a winner has been 55 kg
  • 9 of the last 12 Melbourne Cup winners have run from barriers 1 to 12, with barriers 5, 10, and 11 being the most successful starting positions
  • Since 2000, eight internationally trained horses have won the Melbourne Cup with only 3 Australian-bred horses winning in the same time period
  • 53 Geldings (castrated male horses) and 19 Colts (male horse under 4 years) have won the Melbourne Cup while only 14 Mares (adult females) have won
  • In the last 16 years, 8 Melbourne Cup winners have been stallions (uncastrated male horses)
  • 4-year-old horses have 46 wins, 5-year-old horses have 44 wins and 6-year-old horses have 34 wins - 6 of which have come in the last 11 years

Our 10 Best Melbourne Cup Betting Sites (In Detail)

Here we discuss what to expect from our experts' 10 best Melbourne Cup betting sites (click a bookie to jump to their overview).

Best Melbourne Cup Betting Sites in Australia

  1. Neds - Most complete
  2. PlayUp - Best odds
  3. Bet365 - Best odds on outsiders
  4. Unibet - Easiest to use
  5. Palmerbet - Many features
  6. BlueBet - Australian-owned
  7. Ladbrokes - Same as Neds
  8. MidasBet - New in 2022

You'll also get more information about each betting site in our reviews or in our article about where to bet on the Melbourne Cup.

#1

Neds

Best Overall Melbourne Cup Betting Site

Neds is the best Melbourne Cup betting site in Australia because it has it all. Guides, tips and comments for new bettors. Form guides and many different ways to bet for experienced punters. And competitive odds for every punter.

Neds' apps are fast, they have many ways to pay, and they have quality customer service. The only thing against them is that other bookies have better Melbourne Cup odds for certain runners.

Neds' Melbourne Cup Options

  • Website: neds.com.au
  • Apps: iOS, Android
  • Melbourne Cup Markets: Fixed 'win', fixed 'place', top fluctuation, best of the best, best tote + starting price, exotics, same race multi, money back odds, pick your own odds, and special bets (eg. odds vs evens)
  • Melbourne Cup Features: Price fluctuations, speedmaps, money tracker, form guides, race comments, and expert tips
  • Payment Options: Visa, MasterCard, PayPal, Apple Pay, PayID, POLi, BPAY, EFT/Bank Transfer, Flexepin, Cash In, Neds Card, and Cheque
Neds Melbourne Cup betting markets and options

Neds has a huge range of betting options and features but is still clean, fast and easy to use

#2

PlayUp

Best Melbourne Cup Odds

PlayUp is not as feature-packed as some of the other Melbourne Cup betting sites that our experts recommend but what they do have going for them is high fixed odds. You can also get BoB odds for the Melbourne Cup with PlayUp guaranteeing you a great price for your bets.

For this reason, PlayUp is popular amongst professional bettors but is also a good choice for new punters as there are fewer distracting extras.

PlayUp's Melbourne Cup Options

  • Website: playup.com.au
  • Apps: iOS, Android
  • Melbourne Cup Markets: Fixed 'win', fixed 'place', top fluctuation, best of the best, best tote + starting price, and exotics
  • Melbourne Cup Features: Form guides and expert tips
  • Payment Options: Visa, MasterCard, POLi, BPAY, and EFT/Bank Transfer

#3

Bet365

Best for Melbourne Cup Roughies

Bet365 is well and truly one of the big corporate bookmakers in Australia. The reason we recommend Bet365 so highly is that their stripped-back betting website and apps focus on what matters to most punters - high odds. Bet365 has especially good odds for outsiders (roughies).

You will get fewer Melbourne Cup betting features at Bet365 (no speedmaps, filtering options, or expert tips) but you will have the most ways to deposit and withdraw including PayPal, Apple Pay, POLi, bank transfer, card, prepaid card and even cheque.

Bet365's Melbourne Cup Options

  • Website: bet365.com.au
  • Apps: iOS, Android
  • Melbourne Cup Markets: Fixed 'win', fixed 'place', top fluctuation, best tote, exotics, and special bets (eg. 'cover bets')
  • Melbourne Cup Features: Form guides
  • Payment Options: Visa, MasterCard, Maestro, PayPal, Apple Pay, POLi, EFT/Bank Transfer, Flexepin, Paysafecard, Cash Top Up, Bet365 Card, ClicktoPay, and Cheque
    Bet365 Melbourne Cup markets and Options

    Bet365 isn't the prettiest betting site in the world but it's easy to use and there's plenty of value to find on a number of runners

    #4

    Unibet

    Easy-to-Use Melbourne Cup Bookie

    It is true that Unibet is not one of the most well-known corporate bookmakers in Australia but they are actually one of the biggest bookmakers in the world. At Unibet, you can count on an intuitive betting experience and competitive Melbourne Cup prices, although their app has some speed issues from time to time.

    Being a global brand, you can also count on Unibet not to crash during the Melbourne Cup (something that has happened to Sportsbet numerous years in a row).

    Unibet's Melbourne Cup Options

    • Website: unibet.com.au
    • Apps: iOS, Android
    • Melbourne Cup Markets: Fixed 'win', fixed 'place', top fluctuation, best tote + starting price, and exotics
    • Melbourne Cup Features: Price fluctuations, speedmaps, form guides, race comments, and expert tips
    • Payment Options: Visa, MasterCard, PayPal, Apple Pay, POLi, BPAY, EFT/Bank Transfer, Neteller, Skrill, Flexepin, Ecopayz, and Cash In

    #5

    Palmerbet

    Great Extra Melbourne Cup Features

    Palmerbet is not the most competitive Melbourne Cup betting site when it comes to odds but they are Australian-owned and they do have a range of different features like speed predictors, tips, form guides, comments and price fluctuations to help you place an informed bet.

    Palmerbet is certainly not a bookie you need to use for the Melbourne Cup but it is one that our experts use from time to time as they do offer unique prices on several horses in every meet.

    Palmerbet's Melbourne Cup Options

    • Website: palmerbet.com
    • Apps: iOS, Android
    • Melbourne Cup Markets: Fixed 'win', fixed 'place', top fluctuation, best tote + starting price, and mystery bets
    • Melbourne Cup Features: Price fluctuations, speedmaps, form guides, race comments, early speed, predictor, and expert tips
    • Payment Options: Visa, MasterCard, POLi, BPAY, EFT/Bank Transfer, and Osko
    Palmerbet Melbourne Cup Options and Odds

    Palmerbet has many tabs and features that allow you to see price fluctuations, speedmaps, predictions, comments, form and special betting markets

    #6

    BlueBet

    True Blue Melbourne Cup Betting Site

    100% Aussie-owned and proud of it, BlueBet offers unique Melbourne Cup betting options like odds vs evens and favourite vs field.

    BlueBet is a great choice for betting on the Melbourne Cup if you want to bet locally with a bookmaker that is big enough to provide a slick web and app betting experience but that isn't too big that it feels like your money is going to a faceless corporation.

    BlueBet's Melbourne Cup Options

    • Website: bluebet.com.au
    • Apps: iOS, Android
    • Melbourne Cup Markets: Fixed 'win', fixed 'place', top fluctuation, best tote + starting price, exotics, same race multi, mystery bets, and special bets (eg. odds vs evens)
    • Melbourne Cup Features: Price fluctuations, speedmaps, form guides, race comments, and expert tips
    • Payment Options: Visa, MasterCard, PayPal, POLi, BPAY, EFT/Bank Transfer, Cash In, and Cheque

    #7

    Ladbrokes

    Reliable Melbourne Cup Bookmaker

    Speaking of faceless corporations, Ladbrokes is one of the oldest bookmakers in the world (founded in 1886). This means you're certainly not supporting local business when you use Ladbrokes for your bets.

    Despite this, Ladbrokes is one of the most complete and reliable Melbourne Cup bookmakers in Australia offering all of the same markets, features and payments as their sister company Neds.

    Ladbrokes' Melbourne Cup Options

    • Website: ladbrokes.com.au
    • Apps: iOS, Android
    • Melbourne Cup Markets: Fixed 'win', fixed 'place', top fluctuation, best of the best, best tote + starting price, exotics, same race multi, money back odds, pick your own odds, and special bets (eg. odds vs evens)
    • Melbourne Cup Features: Price fluctuations, speedmaps, money tracker, form guides, race comments, and expert tips
    • Payment Options: Visa, MasterCard, PayPal, PayID, POLi, BPAY, EFT/Bank Transfer, Flexepin, Cash In, and Neds Card
    Ladbrokes Melbourne Cup Betting Options and Features

    Ladbrokes is a classic horse racing bookmaker with a reliable website and apps, quality odds, fast withdrawals and everything you need to bet on the Melbourne Cup

    #8

    MidasBet

    2022's Newest Melbourne Cup Bookie

    Launched in the middle of 2022, MidasBet is one of Australia's newest bookmakers and one of the best for Melbourne Cup betting. MidasBet offers competitive fixed odds prices along with Best Tote, Starting Price and Top Fluctuation odds meaning great value for you on race day.

    It should be pointed out that MidasBet's payment options are limited, they don't have a native betting app and there are other extra features missing (no race comments, speedmaps, expert tips etc.) from this site when compared to bookies like Neds and BlueBet.

    MidasBet's Melbourne Cup Options

    • Website: midasbet.com.au
    • Apps: None
    • Melbourne Cup Markets: Fixed 'win', fixed 'place', top fluctuation, best of the best, and exotics
    • Melbourne Cup Features: Price fluctuations and form guides
    • Payment Options: Visa, MasterCard, POLi, and EFT/Bank Transfer
    Midas Bet Melbourne Cup Betting Odds and Markets

    MidasBet doesn't have as many extra features or markets as other top Melbourne Cup betting websites but they do have a simple platform with competitive odds

    FAQs about Melbourne Cup Betting

    How do you bet on the Melbourne Cup?

    If you are over 18 and an Australian resident you can bet on the Melbourne Cup with any Australian betting site.

    How to Bet on Melbourne Cup 2023

    1. Choose a Melbourne Cup betting site
    2. Create a free betting account
    3. Make a deposit
    4. Choose a horse, or horses, to bet on
    5. Select a bet type & odds
    6. Enter your bet stake
    7. Select "Place Bet"

    Read more about how to bet on the Melbourne Cup here.

    What is the best Melbourne Cup betting site for beginners?

    According to our betting experts, Neds is the best Melbourne Cup betting site for beginners.

    Neds has competitive odds, extra features like race comments and tips, and is fast, user-friendly and quick to process payments. This means it is a great choice for new bettors who want good prices and a painfree Melbourne Cup betting experience.

    PlayUp is also a good choice for first-time Melbourne Cup bettors because it is a simple online bookmaker with the highest average odds.

    What is the best Melbourne Cup betting app?

    Our experts think that PlayUp has the best Melbourne Cup betting app.

    PlayUp is the best Melbourne Cup betting app in Australia because on average their Melbourne Cup odds are higher than any other betting apps', because they offer a simple and clean betting interface and because their apps are both fast and bug-free.

    We list the 20 best Melbourne Cup betting sites & apps here.

    Which horse should I bet on for the Melbourne Cup?

    Unfortunately, nobody knows which horse will win the Melbourne Cup.

    As we approach the Melbourne Cup many websites and publications will publish expert Melbourne Cup betting tips. Check Punters, Neds, PlayUp and the Sydney Morning Herald for Melbourne Cup betting tips.

    Who can bet on the Melbourne Cup?

    Any Australian resident who is at least 18 years old can bet on the Melbourne Cup online with a licensed Australian betting site.

    Where can you do Melbourne Cup betting?

    You can bet on the Melbourne Cup online or over the phone, with a betting site, or in person, at Flemington Racecourse on Melbourne Cup day (Tuesday November 7th, 2023).

    What do you need to know before betting on the Melbourne Cup?

    The Melbourne Cup is run at 3pm AEST at Flemington Racecourse in Melbourne, Victoria.

    It is possible to bet on the Melbourne Cup online today but the final field of 24 horses running in the race will not be decided until the afternoon of Sunday, November the 4th.

    Remember that picking the Melbourne Cup winner is notoriously difficult to predict so any betting that you do should be within your means and you should never bet more than you are willing to lose.

    What are the Best Ways to Bet on the Melbourne Cup?

    The best ways to bet on Melbourne Cup 2023 depend on what you're trying to achieve, how much you are willing to risk, and how knowledgeable you are about the horses running.

    Many people bet on the Melbourne Cup to make the race more interesting and they don't mind wagering a few bucks and then never seeing it again. However, if you want your Melbourne Cup day to be profitable then consider the tips below.

    It's also important to do your homework to make sure your bets are profitable.

    Consider things like a horse, trainer, and jockey's previous form. Have they done well against tough opponents or in other big races? What track and weather conditions do they favour? Do they start off strong or wait until the end to finish fast and how will they do against the other horses running?

    After doing your homework, you'll be ready to consider the best ways to bet on Melbourne Cup 2023 listed below!

    Best Ways to Bet on Melbourne Cup 2023

    Best Ways to Bet on the Melbourne Cup - 8 Easy Betting Strategies
    Jun 25, 2024

    Our betting experts outline 8 of the best ways to bet on the Melbourne Cup. Follow these easy tips & tricks to make your Melbourne Cup day profitable!

    Top ways to bet on the Melbourne Cup

    Fixed Odds

    When you place a bet at a fixed odds price you will get those odds.

    However, fixed odds prices change from the time when Melbourne Cup betting begins until right before the race. This means that in the days and months leading up to the race, you can often find horses that are overpriced.

    Our tip: Bet with fixed odds on "overpriced" horses in the days leading up to the Melbourne Cup.

    Exotics

    Exotics like Quinellas, Exactas, Trifectas and First 4s are inexpensive but hard to get right.

    When placing an exotic you need to select multiple horses and they must be the first horses to finish the race.

    Our tip: Bet on the horses that you like but with small amounts for a potentially huge return.

    Boxed Exotics

    When you box an exotic you can select as many horses as you like and they can finish in any order.

    Boxing exotics can easily become expensive but the more selections you add to your box - the more chances you have of winning. You can reduce the price of your boxed exotic by flexi betting (paying for just a portion of the full box cost for a decreased payout).

    Our tip: Add all of your favourite horses to your box but consider "flexi" betting to keep the cost down. Also, consider taking a risk and removing the favourites from your boxed exotic because if the favourites finish well then your payout will be smaller.

    Tote/SP Betting

    Most Melbourne Cup betting sites offer Top Tote OR Starting Price odds for Win bets and Mid Tote odds for Place bets.

    Tote odds are reflective of how popular horses are with all bettors - the more bets on a horse, the lower their tote price. Therefore, it can be a good idea to use Tote/SP odds when betting on an underdog that not many other punters are backing. It's also a good idea to place your bet right before the race begins so that the odds don't drift too far.

    Our tip: Bet on underdogs (that you think have a chance) right before the race to get a high price.

    Top Flucs

    Top Fluc odds are the highest price that a horse is paying in the 30 minutes before the race begins.

    Top Fluc odds are not always offered but when they are they are a good alternative to Best Tote/SP odds. Top Fluc odds let you secure the best price for your horse, no matter how much the price changes so they are particularly good for betting on favourites whose prices jump around.

    Our tip: Bet on favourites or other horses you believe in whose prices are going to fluctuate a lot to lock in the best price.

    Multis

    Multis, or accumulator bets, allow you to combine multiple single bets into one larger bet.

    For a multi to be successful, all of the outcomes that you select must occur. Multis are a great way to combine a couple of different bets into a larger one for a bigger payout. For example, you may think that two different horses will place. By combining these two single place bets into one your payout will be much higher if you are right.

    Our tip: Combine multiple single bets on favourites and underdogs for an increased payout

    Who Can Bet on the Melbourne Cup?

    Sports and racing betting is legal for all Australian residents who are over 18.

    If you are an Aussie, and you're old enough, you can create a free online betting account

    If you want to bet on Melbourne Cup 2023 online you will need to provide some basic personal information to prove that you are eligible to bet. This includes your:

    • Full Name
    • Email Address
    • Phone Number
    • Postal Address
    • Date of Birth
    • Country of Residence

    Signing up with Melbourne Cup betting sites takes about two minutes and it is 100% safe provided you that use one of the legal betting websites listed on this page.

    Only the betting sites with Australian gambling licences are legally allowed to accept Australian players which means that you should stick to betting with the bookies on this website - punters using unlicensed offshore bookies are not protected by the law.

    Playup horse betting app

    The PlayUp app is really simple and great for horse racing betting - especially for betting on the Melbourne Cup!

    Recommended Melbourne Cup Betting Site

    PlayUp Melbourne Cup

    Easy to use & signup - Great for beginners!

    PlayUp is one of Australia's newest betting sites and their mobile-first website is one of the easiest and simplest to use. This Aussie-owned bookmaker is a great choice for new and inexperienced punters who want to place a quick Melbourne Cup bet.

    PlayUp also has the best fixed odds for the Melbourne Cup making it one of the top Melbourne Cup bookmakers in the country (especially among the pros)!

    Which Betting Site has the Best Melbourne Cup Odds?

    The best Melbourne Cup odds for the 2023 race depend on the exact bet and horse that you choose to back. For a straight win, we've done the hard work for you and have found and listed here the best odds for all horses across different betting sites.

    Bookmakers will alter their fixed Win and Place odds depending on how much has been bet on each horse - this means that often the biggest and most popular Melbourne Cup betting sites have the best odds - however this is not always true.

    In the same way, Starting Price and Top Fluc odds can vary between bookmakers - depending on how popular the horse is at each. Because Tote odds are based on the three major Australian TABs, all Tote and exotic odds offered for the Melbourne Cup will be the same no matter which betting site you go with.

    As a general rule, the best Melbourne Cup betting odds can be found at the bookmakers listed below.

    After you know which horse or horses you want to back, it can also be a good idea to shop around a little and compare the Melbourne Cup odds offered by a few different Melbourne Cup betting sites.

    Why Should You Bet on the Melbourne Cup?

    Why should you bet on the Melbourne Cup?

    Only you can answer this question but because you are on this page, you're probably thinking that placing a bet on the Melbourne Cup is a good idea because:

    • It makes the race more exciting - It's more enjoyable to watch the Melbourne Cup when you are backing a horse!
    • You want to compete against friends/family - What's better than bragging to your mates about your successful Melbourne Cup day?
    • Everyone else is doing it - Sure, FOMO is real and placing a small wager on the race won't break the bank.
    • You know something that the rest of us don't - Good for you! Feel free to get in touch and share your inside information with us.

    You should not bet on the Melbourne Cup if you are expecting to win, chasing your losses or because you feel pressured to. Like all betting, Melbourne Cup betting should be fun and it should be done on your own terms, with money that you can afford to lose.

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