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Looking for a Form Guide? Check out these tips for finding the winner of the Melbourne Cup:

Weights - the majority of winners of the Melbourne Cup have been 4 or 5 year old male horses carrying up to 55kgs. It is possible to win with top weight, but it takes an exceptional horse to do it.

Age - Australia three year old horses often place in the Melbourne Cup but rarely win. In 2017 Rekindling won as a northen hemisphere 3yo (in Australia he was 4) and the following year Cross Counter won carrying only 51kg starting a new trend. Horses over the age of 6 have less success, although this generally applies less to European stayers who start racing later and usually have had fewer career starts than Australian horses.

Barrier Draw - depends on the racing style of the horse. If they like to race forward an inside gate will assist, if they usually race back and swoop late it doesn't matter where they draw. Keep in mind it is very hard to lead all the way in the Melbourne Cup due to the distance involved.

Form - there are a few key local races which can be a good guide for the Melbourne Cup including the Caulfield Cup, Cox Plate, Geelong Cup, Bart Cummings and Lexus Stakes. Otherwise, look for any horse that has won over 2400m or more in the last 6 months (since May).

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What is a Running Double? This is simply the winners of two consecutive races. You can have more than one selection in each leg. Get a rough idea of what the Running Double is likely to pay by multiplying the Fixed Odds prices of both runners. To calculate the cost of your bet, just multiply the number of your runners (2 runners in each leg = 4 combinations).

There is also a special bet called a Daily Double, which is two non-consecutive races nominated by the TAB and includes the feature race of the day, which of course will be the Melbourne Cup.

What is a Quaddie? Most often this bet requires the winners of the last four races of the day. An Early Quaddie on the first four races is also available on certain days. A popular bet with exotics punters as the Quaddie dividend on Melbourne Cup day is usually in the thousands. To calculate the cost of your bet, multiply your runners (2 runners in each leg = 16 combinations). If you want a lot of runners, you might need to try Flexi-Betting (see below.)

What is a Quinella? The first two runners across the line, they can finish in any order for your bet to be successful. You can put more than two runners into your Melbourne Cup Quinella bet; for example take 5 horses for an outlay of $10 to receive 100% of the dividend. Get an approximate idea of how much the Quinella is likely to pay by adding together the SP of the first and second horses and doubling it.

What is an Exacta? Similar to a Quinella, the first two runners across the line but in exact finishing order. Exacta costs twice as much as a Quinella to back for the same percentage of the dividend (for example, $20 on 5 runners to receive 100%) but it can pay around twice as much.

What is a Trifecta? This is the first three runners across the line. Box your selections (which means they can finish in any order) or choose one or more runners for first and additional selections for second and third, so you’ll get a bigger share of the dividend for your outlay.

What does a Melbourne Cup Trifecta cost?  If you're just including 3 horses, it costs just $6 to box them so they can finish in any order, you'll get the whole dividend if you're right. To give yourself a better chance of winning try 5 horses in a box Trifecta for $15 outlay - if successful you would receive 25% of the final dividend (see Flexi-betting). Even if the favourite wins the Melbourne Cup, the Trifecta dividend is usually very generous and 25% could return hundreds.

What is a First Four? Similar to a Trifecta, it’s the first four runners across the line - box them and they can finish in any order. First Four’s cost more because there are more possible combinations, but if you get the Melbourne Cup First Four right the results could be as good as winning the lottery.

What is Flexi-Betting? You decide how much you want to spend to receive a percentage of the dividend instead of the full amount. Useful for your First Four and Quaddie bets, you can include more selections and increase your chances of winning big on the Melbourne Cup.