Different Melbourne Cup Bets   by Adam

in Entertainment / Gambling    (submitted 2011-10-09)

Are you planning on going to the Melbourne Cup with hopes of coming out ahead in the betting department? A lot of people go to the Melbourne Cup to wager money and for the lucky ones they will win a huge sum of money. Before you can wager money one of the things you need to understand is what some of the different types of bets are and how you can make money.

Before I get to the different types of bets I first want to make sure you understand how the payouts go. What you need to understand is that you will be paid based on the spread but all of the numbers are not released to people until close to the race. Just a quick example is if you bet $25 on a horse that is favored 4:1 then you will win $100 if that horse wins. Depending on the field there could be horses that are 2:1, 7:1, and even 14:1 underdogs. The reason you need to know the spread is because if a horse is not favored to win then you will make more money if you bet on them and they win.

Types Of Bettings

Basic

Win bet - The win bet is your most basic bet, you place a bet on a single horse and if it wins then you win. The nice thing about this is you know how you win and that is why most people start off betting using this exact method.

Place bet - The place bet is another simple bet but your chances of winning are a little higher. With a place bet if there are at least 8 starters you can win if your horse comes in 1st, 2nd, or 3rd.

Each way bet - This is one wager that is fairly simple to get and the reason is because it is the win bet and the place bet put together.

Exotic

Quinella - If you are in love with 2 horses then you don't have to decide between the two, you can take them both using a Quinella bet which means they have to come in first and second.

Trifecta - This is where you pick the first place, second place, and third place finishers in the correct order to win.

Multi-race Bet

Quaddie - This is where you pick the winners of the days last 4 races.

There are a lot of different ways that you can wager your money so the odds of you winning at least 1 race are rather high.

About the Author

The only thing you need to do now is wait for the Melbourne Cup Sweep to be released.