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

  • Don’t know a place bet for a quinella? We’ve got you covered
  • Punting terminology explained ahead of Tuesday’s big race
  • Complete list of all horses in the field with barrier draw and weights

The race that will bring the country to a standstill 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 while using terms like quadrella and trying to decipher exacta.

Ny Breaking Australia has broken down exactly what you need to do before heading to your local TAB or pub to enjoy a party.

And of course, bets can also be placed via the wide range of betting apps you can download to your phone for free, including TAB, Ladbrokes and Sportsbet.

But however you choose to place your bet, cutting through the jargon will be a huge help so you can choose the bet that suits you best – and we’ve got your back.

Two lucky punters are pictured at Flemington during last year’s Cup. Follow Ny Breaking Australia’s guide to punting and you can celebrate like they do on Tuesday afternoon

Win bet

The easiest bet to understand, but also the most difficult. To work out how much you can collect, simply multiply the amount you bet by the horse’s odds. So if you bet €10 on a horse at odds of €20, you will receive €200.

Place bet

You increase your chances if you place a place bet, which pays out if your horse finishes first, second or third. But the chance of that happening will obviously be much smaller than the chance of a win.

Each way bet

When your horse salutes, you can collect both the winnings and the place dividend. If your nag finishes second or third, you will receive the place dividend, but you will lose the bet you placed on victory.

Considering 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

In addition to choosing single horses, there are also bets involving multiple horses. The simplest of these is the quinella, which picks the first two finishers in any order.

Exactly

Similar to the quinella, where you have to choose the first two finishers, but in the exacta you have to get the order right. This is a good bet if you want to win one standout horse and have a few options to finish second.

Jockey Mark Zahra is congratulated by his wife Elyse after riding Gold Trip to victory in the 2022 Melbourne Cup. This year the horse is aiming for two in a row

MELBOURNE CUP FIELD 2023

Legend: Number of horses – Barrier – Trainer – Jockey – Weight

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

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

3 NO FIGHT (16) T: Anthony & Sam Freedman J: Mark Zahra 56.5kg

4 EXPANSION (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 ABSURD (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 DECLARATION (19) T: Danny O’Brien J: Billy Egan 53kg

10 CLEVELAND (23) T: Kris Read J: Michael Dee 52kg

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 51.5 kg

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

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

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

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

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

20 MORE thugs (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 Read J: Zac Lloyd 50kg

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

Trifecta

Selecting the first three horses across is one of the ultimate challenges, but if you have enough money you can walk away with thousands of dollars.

You can choose to select them in order, or to make things a bit easier you can ‘box’ your selections – meaning it doesn’t matter what order they end up in, as long as it’s the first three.

This is a very popular Cup bet, given the high number of odds and the chance of an immediate big collection, but the more horses you put in your trifecta, the more it will cost you.

Many of the racegoers who visit Flemington each November are more concerned with the fashion and social side of the Cup, with many Aussies placing their only bet of the year.

Michelle Payne – the only female jockey to win the cup after her victory in 2015 – presents the trophy at Flemington last Monday

First four

If the trifecta isn’t difficult enough for you, the first four bet adds the challenge of selecting which horse finishes fourth.

Again, you can specify the order, or ‘box’ all four, the order doesn’t matter, they just need to fill those top four spots.

Mystery betting

If you trust the bookmaker’s computer more than your racing knowledge – or you simply want to surrender to fate – you can choose this option with the TAB.

Doing this allows you to choose the type of bet you want your money on – win, place, quinella, etc. – and the algorithm does the rest of the work.

Vauban (pictured on Derby Day) is the favorite this year, but the Melbourne Cup is known for being won by unknown horses rather than highly rated competitors

BEGINNER’S GUIDE TO PLACING A BET ON CUP DAY

WIN – YOUR HORSE FINISHES FIRST

The easiest way to make a point on cup day is to pick the horse you think will be first in the post.

For example, if you bet $10 on a runner with odds of $15, you could walk away with $150 if luck is on your side.

PLACE – YOUR HORSE RUNS FIRST, SECOND OR THIRD

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

You then collect money if your horse finishes first, second or third, although the payout will be significantly less than the profit dividend.

EVERY WAY – TO WIN AND PLACE

By placing an each way bet you can collect both the winnings and the place dividend if your horse finishes first.

If it comes second or third, you collect the place dividend, but lose the stake you placed on the win.

THE EXOTICS – HIGHER RISK BUT GREATER REWARD

– QUINELLA

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

– EXACTLY

It’s hard enough to pick a winner, but if you think you know which horses will run first AND second in the right order, place an exact bet for a very healthy return.

– TRIFECTA

Selecting the first three horses on the other side is no easy feat, but if you pull it off, you could walk away with thousands of dollars.

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

However, this will reduce the percentage of the trifecta dividend you 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 ‘pack’ 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 smaller the percentage of the dividend you receive.

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