The head of the betting market is a natural place to start when deciding which horse deciding which horse you’re going to bet on. Let’s take a look at the Melbourne Cup 2024 favourites and examine how previous favourites have fared in the biggest betting race in Australia.
Despite a poor performance in last year’s race, Vauban is the current Melbourne Cup favourite 2024. The build-up will have plenty more twists and turns, so the Melbourne Cup favourite could change before the race goes off. We’ll update this page regularly to help you make your Melbourne Cup picks.
Current Melbourne Cup Favourites 2024
Check the top 4 Melbourne Cup Favourites:
| 2024 Melbourne Cup Favourites | Betting sites | Click to sign up and bet |
|---|---|---|
| Vauban |  | VISIT SITE |
| Jan Brueghel |  | VISIT SITE |
| Absurde | | VISIT SITE |
| Warmonger | | VISIT SITE |
Melbourne Cup Favourite Profiles
Vauban’s performance in last year’s Cup was extremely disappointing. Despite going in as the betting favourite, the Willie Mullins trained runner only managed a 14th-place finish. He settled behind the leading group but didn’t respond well when Ryan Moore asked for more in the closing stages of the race.
His form back in Britain this season has been solid. The highlight of which was winning a Group 2 contest at York to claim the Lonsdale Cup. This potential return to form and his status as a Cheltenham Festival and Punchestown Festival winner are the most significant factors behind why Vauban is currently the Melbourne Cup favourite.
Powerhouse trainer Willie Mullins will only send his runners down under if he believes that they have a real chance to win the race that stops a nation. Despite last year’s disappointing result, Mullins’ has already declared that Vauban will run in the Melbourne Cup 2024. The fact that he’s sending Vauban again strongly suggests he believes the horse can perform much better at the second time of asking.
When you examine the Melbourne Cup 2024 betting odds, you’ll see that Grosvenor Square, Circle Of Fire and Magical Zoe are the other horses with the potential to be the favourite on race day. It’s crucial to consider both runners when making your Melbourne Cup picks, as they’ll likely run well.
Grosvenor Square has displayed a ton of ability in his short career, especially during his effortless win at Curragh in August. Irishman Aiden O’Brien trains the four-year-old, meaning he should arrive down under with a real chance. The world-class Irish trainer has won countless elite contests globally, but the Melbourne Cup still eludes him.
Former Royal runner Circle of Fire is the closest challenger to Vauban in the current betting. Impressive back-to-back victories at Randwick have attracted a lot of support for the five-year-old. Trainer Ciaron Maher is the perfect mentor for the young runner, having won the Melbourne Cup with Gold Trip in 2022. If Circle Of Fire can continue on the upward trajectory he’s shown since switching to Australia, he’ll produce a solid run in the Melbourne Cup
Magical Zoe is the other runner at the head of the market. Irish juggernaut Henry De Bromhead trains the seven-year-old mare. Her recent victory in the Ebor at York was imposing, but the question is whether she can stand up to the Melbourne Cup trip. The potent combination of her recent form and overall consistency makes the mare one to watch for the Melbourne Cup 2024.
Recent Melbourne Cup Favourites
Deciding whether to back the Melbourne Cup favourites or take them on is a long-standing topic of discussion, particularly as recent favourites have a poor record in the race. We’ve collated the performances of Melbourne Cup favourites over the past 20 years to help you make your Melbourne Cup picks.
| Year | Melbourne Cup Favourites | Finishing Position |
|---|---|---|
| 2023 | Vauban | 14th |
| 2022 | Deauville Legend | 4th |
| 2021 | Incentivise | 2nd |
| 2020 | Tiger Moth | 2nd |
| 2019 | Finche | 7th |
| 2018 | Yucatan | 11th |
| 2017 | Almandin | 12th |
| 2016 | Hartnell | 3rd |
| 2015 | Fair Game | 13th |
| 2014 | Admire Rakti | 22nd |
| 2013 | Fiorente | Won |
| 2012 | Dunaden | 14th |
| 2011 | Americain | 4th |
| 2010 | So You Think | 3rd |
| 2009 | Alcopop | 6th |
| 2008 | Mad Rush | 7th |
| 2007 | Master O’Reilly | 8th |
| 2006 | Pop Rock | 2nd |
| 2005 | Makybe Diva | Won |
Further Melbourne Cup 2024 Information
The maximum field for the Melbourne Cup is 24 runners (have a look at the Melbourne Cup lineup running this year). The final field is reduced from an initial entry of 300 to 400 horses. The race is a handicap which means the standard place terms are one quarter the odds for the first four places.
The Melbourne Cup 2024 is one of the biggest races in the world so some bookmakers may offer non-runner/ no bet in the weeks leading up to the race. The race time is not betting friendly for bettors in the UK due to the time difference. However, there is always plenty of ante-post betting and a big turnover on the day of the race. The Melbourne Cup 2024 is shown live on television and that encourages betting.
Bookmakers will probably introduce some concessions related to the Melbourne Cup. There could be enhanced odds for selected horses and extra places. At this stage, it is unclear whether bookmakers will offer Best Odds Guaranteed (BOG).
Customers who take an early board price on a horse with a different Starting Price will have best settled at the best odds. This offer may be available on the day of the race when bookmakers will be looking to attract bets.
