Melbourne Cup Betting Is The Pick Of The Wagering Opportunities In Australia
There are four horse racing events in Australia which together make up the Melbourne Cup carnival. These are the Victoria Derby, Melbourne Cup, Crown Oaks Day and Stakes Day, held in that order. Out of these four, the Melbourne Cup is the most important and the carnival is named after it. The importance is mainly because of the prize money that it entails and the huge sums put on the wager by people engaging in Melbourne Cup betting. The prize money of AUD 6 million is more than twice of the next big event, the Caulfield Cup where the prize money is AUD 2.5 million. This is for the prize money. Guess, what would be the estimated figures for the money staked? Well, the figures are incomparable since these are in hundreds of dollars for the Melbourne Cup.
People place their wagers online as well as offline. Since the government permits people to wager, most of the Australians want to have a shot at their luck to make it big in one go. If the fortune is there for the taking, why to stop from exerting a little effort and going to the TAB outlets or logging on at any of the reputed online sportsbook to place the Melbourne cup bets. If money is a constraint to meeting your ambitions, you do not have to worry. The loans can also be had to fulfil your ambitions. Interestingly, the banks might also increase their lending rates overnight since they know people are going to try their luck with Melbourne Cup betting.
The picture is always not so rosy when it comes to betting. The media might hype the winners of the huge sums in Melbourne cup bets but it conveniently ignores the plight of many others who lose their respective Melbourne cup bet. True, this is the nature of wagering that someone has to lose for someone to win. The authorities expect the people to wager judiciously. Being a mature democracy, it considers the will of the people to be supreme and does not want to play a restrictive role in matters relating to wagering till it adversely impacts the society as a whole.
You can place the Melbourne cup bets of different types but a majority of wagers placed are of the Win and the Place type. The former is about predicting the winner of the race. The latter is about the place that a horse will take in that race. The odds are provided to the punters and these are constantly updated. The odds featured at the online bookmaker sites are changed in real time, almost instantaneously. The punters constantly refer to the changing odds to determine the patterns of changing favourites all the time and redefining their betting strategies.
Wagering is one of the prominent reasons to make Melbourne Cup quite a famed international event. Ever since the advent of internet-based businesses, the online Melbourne Cup betting on this event has been made possible across the different countries. This has also led to greater awareness and the rise of the popularity of this event considerably.
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