- 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
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