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Bet on the Melbourne Cup 2022

Take a look at how to bet on Melbourne Cup horses. The Melbourne Cup takes place on November 1 at Flemington in Australia. The ‘Race That Stops a Nation’ is one of the biggest events in world horse racing.

We delve into the best sites for Melbourne Cup betting, how to place bets, bet types, and Cup favourites. We also give a strategy for how to bet on Melbourne Cup horses.

Content Index

The Best Betting Sites for the Melbourne Cup

To bet on Melbourne Cup odds, you’ll need to know the best place online. There are various good options for Melbourne Cup betting. We review bookmakers all the time and understand what makes betting sites the best for horse racing bets.

  1. bet365

    • BETMAX365: Exclusive code
    • Fair bonuses and promotions
    • 24/7 customer service
    Up to $100 in Bet Credits
    • Open Account Offer: Up to $100 in Bet Credits for new customers at bet365. Make a qualifying deposit (min $10), place bets to deposit value, once they are settled, matched amount in Bet Credits available to use. Returns exclude Bet Credits stake. T&Cs, time limits and exclusions apply.
  2. Betway

    • Lots of welcome offers
    • A plethora of markets & games
    • Competitve odds
    Get a Free Sports Bet up to $60
    • New Customers from New Zealand only. Min Deposit: 10 NZD. First deposit matched up to 60 NZD. 1 x wagering at odds of 1.75+ to unlock Free Bet. Credit Card and Debit Card deposits only. T&Cs Apply
  3. LeoVegas

    • Excellent welcome bonus
    • Great range of betting markets
    • 24/7 customer support
    Matched Free Bet up to $50
    • 18+. New customers only. Minimum deposit $20. Place a qualifying bet of $10 or more on odds of 1.8 and receive the free bet once the bet is settled. T&Cs apply.
  4. William Hill

    • 24/7 customer support
    • Live streaming available
    • Large array of betting markets
    Bet €/$20 Get €/$20
    • 18+ Play responsibly. New customers using Promo code R20 only, Min £20/€20/$20 stake, min odds 1.5, free bets paid as 2 x £10/€10/$10, free bets credited after settlement of first qualifying bet, free bets will expire 15 days after the qualifying bet is placed, payment method/player/country restrictions apply. See full terms below.
  5. Pinnacle

    • Easy-to-navigate website
    • Allows arbitrage betting
    • Expansive range of e-sports markets
  6. Mobilebet

    • Great welcome offer
    • Wide range of betting markets
    • Efficient customer service
    100% welcome bonus up to $50
    • 18+. The minimum deposit is $10. Minimum wagering requirements apply: 8x on bets with odds of 2.0 or higher. General terms and conditions apply.
  7. Royal Panda

    • Good range of betting markets
    • Fast withdrawal time
    • Secure platform
    50% Matched Free Bet up to $50
    • New customers only. Deposit $10 min and claim in ‘my offers’ 1×50% Matched Free Bet Up to $50, to be used for live and mobile. Valid for 7 days. Full T&C’s apply 18+ Play responsibly.
  8. Betiton

    • Strong welcome offer
    • Good range of betting markets
    • Offers a cash-out feature
    Bet $15 get $10
    • This offer is for new customers only and is available once per household. Max. Free Bet amount $10. Minimum wagering on sport to activate the Free Bet is $15. Void/cancelled or cashed out bets do not count towards wagering to activate the free bet.

*The bonus code BIGBET can be used during registration but does not change the offer amount in any way.

The Melbourne Cup is a key focus for bet365, one of the top betting sites in the world. You can bet on Melbourne Cup markets, get a bonus after meeting the terms and check out many other horse racing events. To see the full list of markets and events, take a look at the website.

Another of the top betting sites to offer a similar service is Ladbrokes. Horse racing is their bread and butter, with competitive Melbourne Cup betting odds offered on each horse in the field.

Our review also found Betway to be strong for Melbourne Cup betting. The horse racing section as a whole is a good one here, and you can place your bets live.

Another strong review was that of Pinnacle. They too offer Melbourne Cup betting, a live section and plenty of horse racing markets. Pinnacle is one of the improving online betting sites.

Bet on Melbourne Cup

Placing Bets on the Cup Online: Step by Step

Getting a bet on Melbourne Cup horses is simple. Here’s our handy step-by-step guide:

  1. Get some tips on each horse in the field to make an informed choice.

  2. Next, look at each LordOfOdds review. This will help you find the best betting sites.

  3. Open your account, take your bonus and deposit.

  4. Then, log in and go to the horse racing section. The Melbourne Cup will be there.

  5. Browse the runners, and use your tips to find the right horse. Lastly, click on the odds and place your bet.

Available Bet Types

There are plenty of Melbourne Cup betting choices. Win bets and place bets are the most popular. Each-way betting, Exactas, Trifectas and Quinellas are all good betting options too.

The Best Bets to Place

The more exotic racing bets will always tempt people in, but we reckon it’s better to keep it simple. Stick to win, and each-way bets in the Melbourne Cup.

Melbourne Cup betting is very competitive. That means the odds of each horse are pretty tempting, and you don’t need to go down the exotic route. Bet on 2-3 of your top tips, win or each-way, and hope at least one bet comes in.

2022 Melbourne Cup Favourites

Before you bet on Melbourne Cup horses, keep in mind that we won’t know the final field until the days before race time on November 1. As of now, these five are the most popular in the Melbourne Cup betting.


A superstar horse in the making. Hitotsu is already a winner at Flemington at Group 1 level. He has landed the Victoria Derby, the Australian Guineas and the Australian Derby so far. He should have no trouble staying the 3200 metres, making him one of the best tips to win the Cup.


Incentivise was injured in finishing runner-up in last year’s Melbourne Cup. It’s thought he would make the field, however.

Much like former winner Twilight Payment, Incentivise is a genuine galloper and eats up every metre of the race distance. Watch out for Incentivise coming back in the spring as he remains one of the best bets to win or place.

Spanish Mission

Formerly trained in Europe, Spanish Mission is another who is similar in character to Twilight Payment. Although last at Newcastle in the Tancred, he previously finished third to Verry Elleegant in the Cup.

Stay Foolish

A star of Japanese racing, Stay Foolish has already taken care of other prominent runners in the Melbourne Cup betting. Stay Foolish beat Sonnyboyliston in Saudi Arabia and then Manobo in Dubai.

He’s every bit as good as Verry Elleegant and Incentivise. He may be seen racing at Royal Ascot during British summertime first, which will offer us further clues on whether he’s the best horse to bet on.

Verry Elleegant

One of the best-known names in horse racing. Verry Elleegant was last year’s winner, and she features highly again in the 2022 Melbourne Cup betting.

She’s not in the same form this season yet. Surely, she will improve as the year goes on, with another Incentivise v Verry Elleegant finish perhaps on the cards.

The Best Melbourne Cup Betting Strategy

Keeping the above runners in mind, along with T O Royal, Manobo, Vauban and Duais, one of the best Melbourne Cup betting tips is to keep an eye on their racing form during the year.

When looking to bet on Melbourne Cup horses, remember that very few will win if they turn up for the race when not at their best. So, don’t rely on the reputation of the likes of Verry Elleegant or Incentivise.

Review all the best lead-up races. Don’t go for a horse you don’t believe will stay 3200 metres, and remember you can bet to place, not just to win.


Before making a Melbourne Cup bet, check a LordOfOdds review to see what the best betting sites are. Keep an eye on the form of the favourites for the Melbourne Cup throughout the year and also look back at previous winners such as Verry Elleegant and Twilight Payment to see what successful path they took to the race.

Having a bet on the Melbourne Cup is exciting. Betting on the race means you are essentially part of it which is what the sport is all about.

How to Bet on the Melbourne Cup FAQ

We answer the top questions about how to bet on Melbourne Cup odds here.

🥇 Can I bet on the Melbourne Cup online?

Yes. You can bet on Melbourne Cup odds with many good betting sites.

🥈 Who should I bet on for the Melbourne Cup?

The best horse may not be known until nearer race time. In the early Melbourne Cup betting, Stay Foolish and Hitotsu are two of the strongest in the field.

🥉Is it possible to bet on the Melbourne Cup live?

Yes. You can bet on Melbourne Cup odds live with the best online betting sites.

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