Have you Placed your Bet on the Melbourne Cup yet?

If you haven’t placed your bet on the Melbourne Cup yet, take a look at some of the betting favorites and promising underdogs here!

One of Australia’s most prestigious thoroughbred horse races is just over two weeks away, and fans of betting on horses online are flocking to online sportsbooks in Australia to place their bets on the winner. There are a couple favorites to win the $6,200,000 cash prize, and a few underdogs that risky gamblers are hoping will pull off the upset.

At the head of NetBet Sportsbook’s betting odds is Hartnell, a five year old Gelding with over $2 million in career earnings. Hartnell is coming off three straight 1st place wins, most recently on October 2nd at the Yellowglen Turnbell Stakes. The John O’Shea-trained horse has odds of 4/1 to win, and could be the safest bet on the Melbourne Cup this year.

Hartnell is the 2016 Melbourne Cup betting favorite (photo: thoroughbrednews.com.au)

Right behind Hartnell is the 4 year old Mare, Jameka. Ciaron Maher has trained Jameka throughout her career, and the results have been mostly positive. Jameka has a 68% placing rate, and is coming off a big win just two days ago at the BMW Caulfield Cup. This horses odds to win are at 6/1.

The third horse most favored to win the Melbourne Cup is Irish-thoroughbred Bondi Beach. The four year old Colt became a top Australian horse in 2015 after taking 1st place in the Curragh Cup. Bondi Beach raced in the 2015 Melbourne Cup, but failed to impress, taking 16th place out of the 24 horses. With a 55% win-percentage, Bondi Beach is considered by some to be the dark horse of the Melbourne Cup. NetBet lists this horses odds to win at 10/1.

Who are some good betting underdogs?

As usual, the Melbourne Cup is filled with some great horse racing underdogs. Anything can happen on race day, but a bet on one of these long shots would reap huge cash rewards.

One such Melbourne Cup underdog is Big Orange, a five year old Gelding trained by Michael Bell. With a 43% win rate, and two successive wins at the Princess of Wale’s Stakes, Big orange is a great underdog worthy of a bet. Bell himself commented on his horse, telling the media “He’s on a career-high mark of 117 and you could argue he should be a little bit higher on some form lines.” Time will tell whether a bet on Big Orange will pay off, but with odds of 14/1, he might be the best underdog option.

2016 Melbourne Cup Odds

• Hartnell – 4/1
• Jameka – 6/1
• Bondi Beach – 10/1
• Big Orange – 14/1
• Exospheric – 16/1
• Scottish – 20/1

Another horse that is making waves as an underdog is Exospheric. The former Sir Michael Stoute-trained Colt was last seen taking fifth place in the Juddmonte International. Exospheric was the subject of Australian gambling news recently after he was purchased by new Australian owners, and many people looking to bet on the Melbourne Cup are hoping the change in training might help the horse’s chances this year. NetBet lists Exospheric’s odds to win at 16/1.

The last underdog betting horse that many experts believe could win the Melbourne Cup is Scottish. The four year old Bay Gelding has won three of his last four races, with a second place finish sandwiched between. Scottish has 10 runs in total, and has taken 1st in four, and 2nd in another four. With odds of 20/1, this horse may very well be the best Melbourne Cup betting underdog available today.

Are you planning to bet on the Melbourne Cup? Will you be taking an underdog or betting favorite? Tell us what you think by leaving a comment below, and make sure to check out the best Australian online gambling company, NetBet Sportsbook for the full list of Melbourne Cup betting odds!