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Melbourne Cup Odds 2023

The Melbourne Cup odds will capture the attention of the Australian public in the build-up to November’s big race, so you’re in the right place to get your bets on, whether it’s the Melbourne Cup favourites you’ve got your eye on or you want to take a look further down the 2023 Melbourne Cup field.

Latest Melbourne Cup Betting Odds

Melbourne Cup HorsesTrainerMelbourne Cup OddsBet with
VaubanWillie Mullins4.2[bcblocks type=”CTA” template=”1″ operator=”bet365″ text=”Bet with %operator%”]

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Without A FightAnthony & Sam Freedman7.0[bcblocks type=”CTA” template=”1″ operator=”ladbrokes” text=”Bet with %operator%”]

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Gold TripCiaron Maher & David Eustace8.0[bcblocks type=”CTA” template=”1″ operator=”bet365″ text=”Bet with %operator%”]

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SoulcombeChris Waller10.0[bcblocks type=”CTA” template=”1″ operator=”bet365″ text=”Bet with %operator%”] 

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AbsurdeWillie Mullins10.0[bcblocks type=”CTA” template=”1″ operator=”bet365″ text=”Bet with %operator%”]

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BreakupTatsuya Yoshioka19.0[bcblocks type=”CTA” template=”1″ operator=”ladbrokes” text=”Bet with %operator%”] 

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LastotchkaJean-Marie Beguigne19.0[bcblocks type=”CTA” template=”1″ operator=”bet365″ text=”Bet with %operator%”]

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Future HistoryCiaron Maher & David Eustace21.0[bcblocks type=”CTA” template=”1″ operator=”ladbrokes” text=”Bet with %operator%”]

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Military MissionGai Waterhouse & Adrian Bott26.0[bcblocks type=”CTA” template=”1″ operator=”unibet” text=”Bet with %operator%”]

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More FelonsChris Waller29.0[bcblocks type=”CTA” template=”1″ operator=”unibet” text=”Bet with %operator%”]

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Plenty of betting sites want to be competitive and offer the best Melbourne Cup odds to their punters. We all know that betting on the Melbourne Cup horses is popular, so it’s the ideal time for betting sites to attract new customers and equally for punters so find somewhere new to bet.

We’ve researched the odds and found bookmakers who each can be relied on to provide competitive 2023 Melbourne Cup odds, alongside a positive betting experience. Take a look at the best Melbourne Cup odds for this year’s leading horses, or have a look at the Melbourne Cup betting offers and sites in some more detail.

The odds for every bet can change in the weeks and even days leading up to this high-stakes race so check them regularly in order to make an informed decision when you place your bet.

What do the Melbourne Cup Odds mean?

When you hear people mentioning the Melbourne Cup odds of a particular runner, they’re effectively telling you how likely a horse is to win the race. For example, if you see a betting site offering Melbourne Cup odds of 10.0 or $10 for a horse, it means that the horse is expected to win the race roughly 1/10th of the time. This is a relatively high chance given there are 24 Melbourne Cup runners in total, and so the horse should be considered a strong contender to win the race. On the other hand, odds of 200.0 or higher imply that the chances of winning for that horse are rather slim. This can come in handy when deciding what bet to place. You can find out more about how odds work on our dedicated page.

Melbourne Cup 2023 Betting Odds

Interest in the Melbourne Cup may peak in early November but bookmakers know there are also many who follow the future betting fluctuations throughout the year for major racing events. As soon as one event finishes, they come forward with Melbourne Cup odds for the following year’s race so that punters wanting to place an early bet can do so. This is why all the major operators have Melbourne Cup odds 2023 available months ahead. With that in mind, here are current Melbourne Cup betting odds for the 20 most fancied horses:

Melbourne Cup Horses 2023Latest Melbourne Cup odds
Vauban$5.50
Soulcombe$9
Desert Hero$13
Francesco Guardi$13
West Wind Blows$17
Breakup$17
Just Fine$15
Without A Fight$21
Absurde$17
Gold Trip$21
Valiant King$26
Harbour Wind$26
Goldman$17
Lastotchka$26
Rue Boissonade$26
Tower of London$26
First Immortal$26
Lunar Flare$21
Sharp N Smart$34
Cleveland$41

You should be aware that these odds are prone to change as the race day approaches, and you should make sure to recheck them before you want to place your bet.

Different types of Melbourne Cup odds – Tote vs Fixed odds

When you’re looking for Melbourne Cup odds and watching the build-up to the race, you’ll occasionally hear the tote mentioned alongside fixed odds bookmakers. In Australia, there are several Tote operators, including TAB (Totalisator Agency Board), which is one of the most well-known and widely used tote systems. Punters can place bets through TAB outlets, online platforms, or at the racetrack itself. The tote is a popular betting method for many Australians, alongside fixed-odds betting, and it offers a dynamic and potentially rewarding way to bet on racing events. The key difference between these types of Melbourne Cup odds are explained here.

  • Tote odds – Tote, or parimutuel betting is a betting system in which all bets of a certain type are placed together in the same pool on the Melbourne Cup. The bookmaker’s tote odds are an estimation of what they believe you can get based on the total number of bets placed up to that point. You should be aware that these odds can be very volatile, and you effectively do not know the actual Melbourne Cup odds you’ll get until the race has begun and new bets are no longer accepted.
  • Fixed odds – Fixed odds are quite the opposite, meaning you know the exact Melbourne Cup odds you’re getting as your bet is placed. This means that not all bettors will get the same Melbourne Cup odds even though they have bet on the same horse because the odds can shift in the race build-up.
Melbourne Cup Odds

What were the Melbourne Cup odds in 2022?

  • Deauville Legend: 3.60
  • Duais: 23.00
  • Hoo Ya Ma: 16.00
  • Gold Trip: 17.00
  • Camorra: 51.00
  • Young Werther: 41.00
  • Interpretation: 51.00
  • Montelfelia: 12.00
  • High Emocean: 34.00
  • Vow And Declare: 29.00
  • Knights Order: 16.00
  • Serpentine: 61.00
  • Stockman: 26.00
  • Lunar Flare: 23.00
  • Emissary: 31.00
  • Without A Fight: 11.00
  • Daqiansweet Junior: 51.00
  • Smokin’ Romans: 17.00
  • Realm Of Flowers: 12.00
  • Numerian: 61.00
  • Tralee Rose: 101.00
  • Grand Promenade: 81.00
  • Arapaho: 81.00

Real-time Melbourne Cup odds: Play live

Live betting is also available during the Melbourne Cup which means you can bet while it’s still in progress.

Please note that due to the Interactive Gambling Act in Australia, any form of live betting cannot be conducted online.

Horse races like the Melbourne Cup typically last for only a few minutes so you need to be quick on your feet when placing your live Melbourne Cup bet. If you choose to bet in this manner, you should also be aware that the Melbourne Cup odds you’ll get can fluctuate dramatically and will keep changing throughout the race as the horses change their position.

One of the most important things for live betting on horse racing is factoring in the weather (read more about Melbourne Cup weather conditions). Rain can affect the racetrack conditions significantly so it helps to research how your favourites have fared in various weather conditions when racing in the past before betting.

What were the final Melbourne Cup odds for previous winners?

Melbourne Cup YearHorseFinal Betting Odds
Melbourne Cup 2022Gold Trip21/1
Melbourne Cup 2021Verry Elleegant18/1
Melbourne Cup 2020Twilight Payment25/1
Melbourne Cup 2019Vow and Declare1/1
Melbourne Cup 2018Cross Counter11/1
Melbourne Cup 2017Rekindling15/1
Melbourne Cup 2016Almandin10/1
Melbourne Cup 2015Prince of Penzance100/1
Melbourne Cup 2014Protectionist7/1
Melbourne Cup 2013Fiorente13/2
Melbourne Cup 2012Green Moon19/1
Melbourne Cup 2011Dunaden15/2
Melbourne Cup 2010Americain12/1
Melbourne Cup 2009Shocking9/1

Other things to consider before placing your Melbourne Cup bet

Although the odds are important to consider when determining who to bet on, which bet to place and who to place it with, there are also other things to consider. For example, the history of the horse’s trainer or the jockeys’ racing history. Below you will find the most recent winners and the trainers and jockeys who led them to success, or you can check out our Melbourne Cup Tips to help with your final betting choices.

YearWinning HorseTrainerJockeys
2022Gold TripCiaron MaherM. Zahra
2021Verry ElleegantChris WalterJames McDonald
2020Twilight PaymentJoseph O’BrienJye McNeil
2019Vow and DeclareDanny O’BrienJamie Mott
2018Cross CounterCharlie ApplebyKerrin McEvoy
2017RekindlingDavid Wachman & Joseph O’BrienCorey Brown
2016AlmandinLiam HowleyKerrin McEvoy
2015Prince of PenzanceDarren WeirMichelle Payne
2014ProtectionistAndreas WohlerRyan Moore
2013FiorenteGai WaterhouseDamien Oliver
2012Green MoonRobert HickmottBrett Prebble
2011DunadenMikel DelzanglesChristophe Lemaire

Melbourne Cup Betting Odds FAQ

Here are a few of the most common questions from those wanting to bet on the race, regarding Melbourne Cup betting and Melbourne Cup odds:

All Melbourne Cup contestants are given odds, which are usually presented as an amount in dollars so you will usually see odds looking like this: AUS$10. This means that for every dollar you bet you will receive AUS$10 back should your horse win. This includes the AUS$1 that you bet, which means that your profit will be AUS$9 per dollar bet.

If you want to convert the amount in dollars to losing/winning odds, you need to split the AUS$10 payout from the bet into the profit of AUS$9 and the outlay of AUS$1, and then they will look like this: 9/1.

The confirmed Melbourne Cup field will be announced closer to race day, most likely in October. Those wanting to place a bet on a horse, or some horses, racing that day will want to keep an eye out for this.

From all of the previous Melbourne Cup races, the highest odds for a winning horse has been 100/1, which has occurred only four times in the history of the competition. The most recent occurrence was for Prince of Penzance in 2015. His jockey was Michelle Payne and he was trained by Darren Weir.

Yes, punters wanting to bet on the Caulfield Cup, which takes place at the same racecourse (Flemington) and on the same day as the Melbourne Cup, will be able to place their bet, or bets, with most online bookmakers.

Makybe Diva is the only horse to have won this historic, Australian horse race three times, securing her place in the history books.

For more information on how to bet on the Melbourne Cup you can have a look at the following pages:

If you want to learn how to read the odds correctly, have a look at our page dedicated to horse racing odds, and check the odds for other famous horse races in the world such as Cheltenham, Royal Ascot, Kentucky Derby…

18+ | Please play responsibly | What are you really gambling with? | Terms and Conditions apply | Commercial content