The 2025 Melbourne Cup is just around the corner, taking place on Tuesday, November 4, 2025, at the iconic Flemington Racecourse in Melbourne. With only a few weeks to go, excitement is building among punters eager to back their favorite horses in Australia’s most prestigious race.
This is the place for Melbourne Cup betting and information. Fixed odds markets are already starting to take shape, and prices will continue to shift as race day approaches. Now’s the perfect time to compare odds, follow form guides, and learn how to place your bets on this legendary event. Keep an eye on the table below for the updated odds:
| Odds to Win the Melbourne Cup 2025 |  |  |  |
|---|---|---|---|
| Vauban | +1500 | +1500 | +1500 |
| Circle of Fire | +1500 | +1500 | +1500 |
| Without a Fight | +1500 | +1500 | +1500 |
| Soulcombe | +1500 | +1500 | +1700 |
| Tower of London | +1500 | +1700 | +1500 |
| Justin Palace | +1700 | +1700 | +1700 |
Fondly known as “The Race That Stops a Nation,” the Melbourne Cup is Australia’s biggest and most celebrated horse race. It takes place each year at Flemington Racecourse in Victoria on the first Tuesday of November — with the 2025 edition set for November 4.
First run in 1861, the Melbourne Cup has become a global sporting spectacle, attracting more than 100,000 spectators trackside and millions more watching worldwide. It’s even recognized as a public holiday in Melbourne, highlighting its cultural significance.
The race carries an impressive $8 million purse and features a field of up to 24 horses, making it one of the richest two-mile handicaps in the world.
As always, Melbourne Cup betting turnover is expected to soar in 2025. Odds will continue to move as the big day approaches, so stay tuned and check back often for the latest live Melbourne Cup odds and betting updates.
Before placing your 2025 Melbourne Cup bets, keep these key tips in mind to give yourself the best chance at spotting value:
Now, we’ll highlight the best place to bet on the Melbourne Cup and how to find the 2025 Melbourne Cup best bets.
Identifying the top offshore racebooks is the best way to get the best Melbourne Cup prices and live odds. Sites such as BetNow and BetOnline offer everything from 2025 odds to expert tips. What’s more, they even offer attractive sign-up bonuses to help your money go even further.
Although the Melbourne Cup “sweeps” are very popular in Australia amongst friends, workplaces, and parties, participating in a sweep is not as exciting as placing your own strategic wagers. Choose the amount of your bet, the race number if you are betting the Melbourne Cup undercard as well as the Melbourne Cup itself, and the horse number or numbers involved.
Everyone wants to find the best horse to bet on the Melbourne Cup, but it’s not something that is easily done. Doing your research is key to success. In terms of Melbourne Cup bonus bets, we’d advise looking around our recommended sportsbooks providers and finding the right one for you.
Like most races, the Melbourne Cup bet types include win, place, and show betting, as well as exacta and trifecta wagering. Different markets from North America, Europe, and Asia may offer different wagering opportunities than those in Australia itself. If betting in Australia or the United Kingdom, try each-way betting, where a lone bet can cover a horse finishing in the top three, and sometimes in the top four depending on the bookmaker and size of the field, which for the Melbourne Cup should be substantial.
First run in 1861, the Melbourne Cup has evolved from a local handicap into one of the world’s most prestigious horse races. The inaugural winner, Archer, defeated a field of 16 and returned the following year to claim victory again — setting an early precedent for greatness.
By 1875, the Melbourne Cup had settled into its now-iconic slot on the first Tuesday in November, a tradition that has endured for over a century. The 1890 running remains one of the most memorable in history — a record 39 horses competed, with Carbine carrying an astonishing 145 pounds (66 kg) to victory, a weight-carrying record that still stands.
The 20th century produced legendary moments and national heroes. None shine brighter than Phar Lap, who dominated the 1930 Melbourne Cup and became a symbol of hope during the Great Depression. His preserved body remains on display at the Melbourne Museum, a lasting tribute to Australia’s most beloved racehorse.
In 1968, Rain Lover won the Cup by eight lengths — tying Archer’s 1862 record for the largest winning margin — before going on to win again the following year. But perhaps no story is more remarkable than that of Makybe Diva, the mighty mare who became the first and only three-time Melbourne Cup winner (2003, 2004, 2005). Her dominance transformed her into a national icon and earned her more than $14 million in prize money, as well as two bronze statues, including one at Flemington Racecourse itself.
Female success has also left its mark on the race. In 2001, Sheila Laxon became the first female trainer to win the Melbourne Cup, guiding Ethereal to victory. Later, in 2013, Gai Waterhouse — one of Australia’s most famous trainers — claimed her first Cup with Fiorente, a popular favorite that year.
For decades, the Melbourne Cup was a domestic affair, with international horses unable to compete until modern air travel made participation practical. That changed in the 1990s, ushering in a new era of global challengers. Irish trainer Dermot Weld made history with Vintage Crop in 1993, the first internationally trained winner, and repeated the feat in 2002 with Media Puzzle.
Other notable foreign-trained winners include Delta Blues (Japan, 2006), Americain (France, 2010), Dunaden (France, 2011), and Cross Counter (UK, 2018). Dunaden’s win was especially dramatic, edging Red Cadeaux by just a nose — one of the closest finishes in Cup history. Red Cadeaux, a UK-based stayer, became a cult hero after finishing runner-up three times in four attempts.
Even in recent years, overseas success has remained strong. Twilight Payment, trained in Ireland by Joseph O’Brien, captured the 2020 Melbourne Cup, following his father Aidan O’Brien’s earlier dominance on the global stage. Australian-trained horses, however, have rebounded with local champions like Gold Trip (2022) and Without A Fight (2023) returning the trophy home.
Today, the Melbourne Cup remains both a national holiday and a global betting spectacle, watched by millions and symbolizing endurance, luck, and the thrill of racing glory.
Melbourne Cup betting results on a minimum $2 bet are shown below. These prices can show you the value of the Melbourne Cup, and why it is important to bet on horses who are not the favorite.
The win by Prince of Penzance in 2015 is one of the most famous wins of all time. The shocking win with female rider Michelle Payne aboard has since been made into a full-length movie called Ride Like a Girl. This movie showcases how the Melbourne Cup takes over the entire nation, with school children and workers watching with rapt attention. Prince of Penzance was the fourth horse in Melbourne Cup history to win at 100-1 odds, joining The Pearl (1871), Wotan (1936), and Old Rowley (1940).
The 2025 Melbourne Cup once again offers strong value for bettors who look beyond local sentiment. Many Australian punters still favor home-bred runners, often overlooking the overseas “invaders” that have enjoyed growing success in recent years. Keeping an eye on international contenders can be a smart and profitable strategy for experienced Cup bettors.
In recent years, wagering turnover on the Melbourne Cup itself has remained around A$100 million, with total betting across the four-day Flemington Carnival reaching up to A$450 million. These figures underline the enormous popularity of the event and the opportunities it presents for finding value as odds fluctuate in the days leading up to the race.
