Betfair are a betting site that has transformed the way people can bet on the Melbourne Cup, thanks to their ‘exchange’ set up. Find out how an exchange betting site like Betfair compares to a fixed odds bookmaker, so you can add to the options open to you ahead of the Melbourne Cup.
Betfair Melbourne Cup betting – What does Betfair offer?
Betfair launched in the UK in 2000 before quickly expanding into Australia and establishing themselves as a competitor to more traditional bookmakers.
The key differentiator is they’re an exchange betting site which means two big differences. Firstly, you’re betting against other Melbourne Cup punters instead of a bookmaker which generally results in lower margins and better odds than elsewhere. Secondly, you have the opportunity to place money on a Melbourne Cup horse to lose (a ‘lay’ bet) as well as backing them to win (a ‘back bet). This may initially sound daunting, but it certainly doesn’t have to be. For a start, you can use them like a normal betting site and simply place back bets, plus any initial confusion will quickly disappear once you’ve placed your first few bets.
| Criteria | Betfair Melbourne Cup |
|---|---|
| Offers for existing customers | Visit Site |
| Streaming | Live Stream available |
| Odds | Odds compare favourably with other betting sites |
| Live Betting | Live Betting is available* |
| App | App available to download from Play Store and App Store |
| Register account and bet |
*Please note: due to the Interactive Gambling Act in Australia, any form of live betting cannot be conducted online. Play betting can only be conducted via telephone.
How to sign-up with Betfair for Melbourne Cup 2023
Once you’re happy to give Betfair a try, the next step is to open a new account so you’re all set ahead of the Melbourne Cup. The sign-up process couldn’t be much simpler but you can follow our step-by-step sign up guide below to help you through it.
- Start the Betfair Melbourne Cup sign-up process by tapping any of the yellow sign-up buttons. This will take you directly to the Betfair registration landing page.
- Once on the Betfair registration page, you just need to enter your personal details.
- Tap through to the second part of Betfair’s sign-up process, and you’ll be able to add a suitably memorable and secure password. Then decide whether you’d like to add deposit limits on your account, and you’re good to go.
- Once you’ve joined Betfair, you’ll have the option to deposit immediately or to wait until you’re placing your first bet. Betfair’s deposit methods vary from debit card to Paypal, plus many more options, so choose whichever one you’re most comfortable with.
As you can see, the Betfair Melbourne Cup sign-up process is short and simple. You’ll also and a live chat facility is also available, so help is at hand if you need it.
How To Bet On Melbourne Cup 2023 With Betfair
One of the most exciting parts about Melbourne Cup day is making a bet on the horse you think will win. You can follow these steps to make a Betfair Melbourne Cup wager:
- First, sign in to your new Betfair account with the username and password you created earlier.
- As you can see from the screenshot above, the Melbourne Cup is already signposted on the homepage so you just need to tap the banner. Alternatively, you can get to the Betfair Melbourne Cup odds via ‘Racing’ in their menu.
- You’ll then be presented with a list of Melbourne Cup horses for this year’s race. To back a horse to win, choose the odds surrounded by a blue square. If you’re confident a horse is going to lose, lay the horse by using the odds in a red square.
- Enter your stake and look our for the liability box which will tell you how much you’d lose if your bet doesn’t win.
- Once you’re happy with the worst case scenario, press ‘Place Bet’ and get all set for the race ahead.
What do bookmakers offer for the Melbourne Cup?
- bet365: What does this operator Offer? Bet on the Melbourne Cup with bet365.
- What does Ladbrokes Offer? Bet with Ladbrokes on the Melbourne Cup.
- What does Unibet Offer? Bet with Unibet on the Melbourne Cup.
- What does PlayUp Offer? Bet with PlayUp on the Melbourne Cup.
Which Melbourne Cup betting markets are available at Betfair?
Because Betfair is an exchange rather than a fixed odds bookmaker, the two real Melbourne Cup betting options open to you are win bet or a place bet. You can switch between the two options once you’re on the Betfair Melbourne Cup betting page, depending on your preference.
Win
Betfair’s most popular Melbourne Cup market is the win. Here, customers need to stake their money on the selection that they believe will cross the line first. Returns are awarded if the selection wins the Melbourne Cup.
Place
Bigger priced horses in the Melbourne Cup often run well but you may not want to go all-in on them winning the race when the payout for finishing in the top three or four places is still generous. If you make a place bet on a horse with Melbourne Cup odds, the selection must finish in a position determined by Betfair to get a return.
What types of Betfair Melbourne Cup odds are offered?
Betfair offers a range of odds for the markets that are offered. The biggest difference in odds that customers should be aware of is the difference between ante-post prices and standard prices.
The ante-post Betfair Melbourne Cup prices are far more competitive, and this is the market to get the best value. However, unless it is stated, customers could lose their wager should their selection not run in the Melbourne Cup.
What Are The Different Odds?
As one of the leading sportsbooks online, Betfair understands that all customers are different. One of the ways that this is shown is by the fact that they allow players to change the layout of odds.
When you first land on the page, all the odds are in the fractional layout. However, this can be changed at the bottom of the page to the decimal format.
What To Be Aware Of?
Before making a bet on the Betfair Melbourne Cup odds, customers should understand how the different odds work. Fractional odds are the most straightforward to understand.
The number on the left is how much you will get from the number on the right. For example, if the odds are 10/1, then you will get $10 in returns from a $1 wager.
However, you will also get the stake back, so you will get $11 in returns. Decimal odds already take into consideration the returned stake. Therefore, the odds would be 11.0 for the same selection.
Betfair Melbourne Cup Live Stream
There is an excellent live stream service available at Betfair. Customers can watch the action in Australia on their device after making a bet. There is also a betting market that is available, as customers can still wager on the winner in-play.
However, the prices will change quickly depending on how the horses are travelling. The live stream is an excellent way to watch the race. However, it is encouraged that you connect to Wi-Fi, as this is the best way to get high-picture quality.
Betfair Melbourne Cup Betting Offers 2023 FAQs
Learn more from our answers in the FAQ section below.
Customers can bet on the win, place, each-way and forecast market with Betfair.
Only after you have researched all the runners for the Melbourne Cup should you make a bet. You shouldn’t place a bet just because of the potential returns.
The horses at the top of the market for the Melbourne Cup will be the selections with the best form. Horses that have won multiple Group 1s and have course experience will be among the favourites.
Summary
The Melbourne Cup is one of the most important races of the season in Australia. In this article, you will be able to learn about the Betfair Melbourne Cup betting guide as well as the markets that you can bet on. Also, we assess the leading contenders for the huge Group 1 and compare the horses that could stand the best chance of winning the famous race. Furthermore, all the information that you require regarding live streaming the Melbourne Cup can also be found.
