Melbourne Cup Betting Australian Tote Pari-mutual TAB Exotic Multiple Bet types explained.

The simplest and most popular way to bet on the Melbourne Cup is with Win & Place. If you're betting with Sportsbet you can bet Fixed Odds or Best Tote. Win Dividend is paid on the Melbourne Cup winner only and Place dividends are paid on the first, second & third runners.

What are Fixed Odds? The odds at the time you place your bet that do not change in relation to the SP (Starting Price). However, there may be deductions if there is a late scratching before the race. Fixed Odds are available as All-In Futures all year round and before the final field is announced, the odds are better but you will not get your money back if the horse does not start. A Fixed Odds bet on the final field after the barrier draw will be refunded if the horse does not start. Usually, the earlier you place your Fixed Odds bet, the better your odds.

What is Best Tote betting? Sportsbet’s Top Tote + (TT+) offers the best price of the 3 State TAB (Tote) prices on Win & Place. So, if the highest odds on the Melbourne Cup winner were available from an interstate market, you will receive those odds even if you don’t live in a that jurisdiction. If a horse is drifting in Tote betting you might get better odds with TT+ than Fixed Odds as this price is determined at the jump.

TAB Bet Types - Betting on the Melbourne Cup - RESULTS>.

Australian bet types explained. Win Place Quinella Trifecta First Four & Quaddie.

Here is our quick guide to some of the different ways to bet on Australian horse racing.

Aussie bookmakers will match the bet types available from the TAB and often beat the TAB by offering exclusive markets and money back specials.

Ready to bet now? Live odds on the Melbourne Cup are available with Sportsbet - go HERE for live Melbourne Cup betting & results.

Win & Place betting explained. - BET NOW>.

Melbourne Cup Protest & Dead Heat

What is a Protest? A protest can be lodged if there has been interference at any stage of the race that may have cost a horse a winning chance. In Australia, if the protest is upheld the horse that lost the protest is demoted to the finishing place of the successful protestor and all other runners are promoted by one place. If you bet with Sportsbet you don’t have to worry if another horse is declared the winner of the Melbourne Cup after a protest, both horses will be paid out as winners.

What is a Dead Heat? If the judge is unable to determine a margin between two or more runners in any paying position, this is declared a dead heat. The dividend will be divided between the runners in that place. So far there has never been a dead heat for first in the Melbourne Cup.

How to win more on the Melbourne Cup - Exotic betting is available after the final field is published:

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.

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