The Melbourne Cup is one of the most prestigious events in the world, attracting local and international thoroughbred horses, jockeys, and trainers. It is not just a race but an institution, a celebration, and a traditional pillar. And for many punters worldwide, it’s an opportunity to win big.
The Melbourne Cup is one of the biggest betting events in Australia. In 2021, bettors spent more than AUD$200 million on the Cup. The betting thrill and the dream of winning are on a different level.
The right tips can make the difference between winning big and losing your stake. Therefore, whether you’re a beginner or a seasoned punter, always choose the source of your tips properly. But where do you get good betting tips? Read more for details.
Sources for obtaining betting tips
Like many other sports, such as football, the Melbourne Cup has many reliable sources of great tips, discussions, and predictions. By using these sources, you’ll make more informed decisions with your bets. They include the following:
- Expert pundits and tipsters
The Cup has its set of top pundits and tipsters. These individuals study races for a living, so they know the factors that can influence the race’s outcome. They use historical data, the age of the horses, trainers, barrier draws, jockeys, and the weight category, among other factors. These experts keep a track record of the events and typically have a better understanding of the races.
Racing publications like the Punters website, major Australian newspapers, betting agencies, and relevant podcasts/YouTube channels are some notable sources of tips from expert pundits and tipsters. If you’re new to betting, you can see the factors they use to make their selections. You can then use them to guide your predictions.
When following different tipsters, research who has a good track record. A simple internet search will lead you to many tipsters. However, some of them are not experienced in the Melbourne Cup. Always read reviews, and if possible, subscribe to a tipping service that provides tips from a panel of experts.
- Dedicated racing websites
Racing websites are excellent sources for obtaining betting tips. These platforms typically boast a panel of horse racing specialists who delve deep into the track conditions, the Melbourne Cup odds, runners’ form, and other pivotal elements. Furthermore, they provide a range of betting suggestions, including win, place, exotic bets, and value bets.
What sets these sites apart is the depth of analysis, presenting varied expert opinions on potential winners, which empowers punters to make well-informed decisions or even craft their predictions. You can watch this video on how experts analyse horse races and provide tips: https://www.youtube.com/@PuntersAustralia
Additionally, it’s good practice to check different websites before making predictions. As no tip is infallible, you should obtain as much information as possible. A diverse perspective ensures a more comprehensive understanding before placing bets. The more you know, the better.
- Horse racing app
Horse racing and betting tips apps also provide a convenient way to access tips and analysis for the Melbourne Cup. These apps offer a variety of features, including the following:
- Form guides: Form guides are a record of a horse’s previous performances and races. You can check the finishing time and the prize money. While past results aren’t guarantees for future outcomes, these guides can give insight into the horse’s potential performance.
- Expert tips: Like dedicated horse racing websites, many apps have a section or a blog on expert tips and analysis. The tips are based on form, weight, and jockey, among others.
- Odds comparison: Another important feature of a good horse racing app is the odds comparison. A good app allows you to have a quick snap of the odds from different bookmakers. This allows you to place your bet with the bookies offering the best odds.
- Social integration: Some apps have the social integration feature, which allows you to follow other punters and chat with them. This feature allows you to discuss with other betters and share insights to help make predictions.
You should also check the reviews on the apps before downloading them. Test the different features to ensure they align with what you want in an app.
- Newspaper and magazines
Newspapers and magazines are still important sources for betting tips. These magazines are usually written by experienced tipsters and experts with a rich history in horse racing. Additionally, there are magazines dedicated to the event, discussing the races in detail, including the horses’ forms, handicap racing, trainers’ performance, and barrier draw.
Columns in these publications often include form guides, race previews, and expert tips. While newspapers and magazines may not offer the same convenience and accessibility as mobile apps, they typically exercise more editorial oversight to ensure the quality of their predictions. Not anyone can just publish their own opinions in these outlets; there’s usually a panel of seasoned experts and tipsters responsible for the content.
- Social media
Social media has become a major part of the Cup in recent years, from sharing news and watching short clips to getting the best tips. The best part of social media is that you can easily get a wide range of tips from experts and fans. While other sources may have only a few experts, social media gives you access to many people with relevant experience.
Moreover, you can also form groups, share tips, and discuss the race. This will allow others to critique your selections, offer insights, and provide alternative predictions. By sharing predictions and other betting ideas, you can easily come up with more informed decisions on the bets to place.
If you want to follow tipsters and race influencers on social media, ensure that they have knowledge and a good record. You can follow journalists, experts, and other Melbourne Cup authority figures. Don’t just follow people who provide tips, as their tips could be mere uneducated guesses. They should offer detailed analysis, news, and expert insights into every tip they provide.
- Television and radio
Televisions and radios are excellent sources of betting tips. In the days leading up to the event, sports and racing channels will often have experts and analysts discussing the race. They assess previous performance, lead-up races, form, and other factors that can impact the outcome. These platforms also feature interviews with trainers, jockeys, and other industry professionals to provide valuable insights.
These stations also cover the Melbourne Cup carnival and the lead races. During this time, they have programs dedicated to providing analysis and tips. You can follow them, see how they make their predictions, and use them as tips or guides to make your predictions.
How to pick the right tips for horse racing
With so many Melbourne Cup tipsters and experts, it’s easy to get confused about which tips to follow and use. Here’s a quick guide on how to pick the best tips:
- Consider track record
The track record of a tipster is crucial in helping you decide whether to go with their tips or not. A tipster with a good record is more likely reliable because it shows they may have a deeper understanding of the Cup.
How many accurate predictions has the tipster made in the past? To find out, examine their strike rate, which represents the percentage of races the tipster has won. A good strike rate should not be less than 30%. There should also be consistency in their profitability.
- Betting style
You should also consider your betting style before choosing a tipster. The Melbourne Cup has a wide market, such as place bets, win bets, exotic bets, and value bets. As such, you can find tipsters who specialise in one type of bet. Therefore, you should consider the types of bets and your betting style to align with the tipster’s expertise.
If you want to place a value bet, look for tipsters who use statistical analysis to identify undervalued horses with better chances of winning. However, if you’re a favourite better, then you want a tipster who understands form and is good at picking winners at short odds.
It’s also important to note that there’s no right or wrong betting style. It depends on your preferences, what you expect to win, and the risk you can take.
- Beware of scams
Scamming is commonplace in sports betting. Scammers make unreliable information or uninformed guesses and sell it. They use social media, emails, and mass messaging to target unsuspecting victims by promising guaranteed profits, access to insider information, and fixed outcomes. They always ask for subscription fees or one-time payments to access the services without offering free picks or trial periods. There are some who may ask you to pay after the race.
While this doesn’t seem like a scam (since some reputable tipsters may also charge money for their services), you will recognise the red flags if you do deep background research on those charging money. A reputable tipster may charge money, but they won’t guarantee winnings or have shoddy promises, such as access to insider information. Therefore, it’s wise to learn to differentiate between the two.
- Don’t bet on every tip
Not every tip is reliable and is going to win. Even tips from reliable tipsters and expert analysis don’t guarantee a win. There are many factors that affect the outcome of a race, making it impossible to predict everything correctly.
So, while looking at reliable sources, be careful about the tips you’re picking. The best way to manage this risk is to combine it with your research. If a prediction aligns with what you got from your analysis, you can use that to place the bet. However, if the tips contradict, you should be careful and get the opinion of another tipster.
- Be wary of free tips
Different tipsters provide free tips for different reasons. First, top tipsters provide the best free tips to their customers to attract more people. Once the tips have won, the customers can subscribe to the premium packages. However, some tipsters provide free tips as click baits to generate traffic to their websites and blog posts.
Therefore, be wary of the free tips you get and understand why they’re free. Some guidelines are the following:
- Check previous records: When assessing the source of a free bet, you should look at their previous predictions. If they’ve picked winners in their previous records, they could give out free tips to help convert more customers to their premium service.
- Know their motivation: Understand why the tipsters are giving out free bets. Are they attracting more customers? Protecting their reputation? Or using their bets as clickbait to generate traffic to their website? Knowing the motive behind the bet will protect you from scammers and losing your money.
Always conduct research first instead of following tips blindly. Don’t rush to follow a tip without assessing its viability first.
- Avoid recovery tips
In some instances, tipsters always provide recovery tips to cover any previous losses. However, these tips aren’t analysed well, and it’s used to chase losses, which is a bad betting strategy. If you see any tips marked as a recovery tip before the Melbourne Cup, know that the tipster had lost a previous race and is trying to chase the loss.
Always avoid this type of tip, and opt for a tip that has been thoroughly analysed using the metrics that can determine a win in the Cup.
Final thoughts
Following the right betting tips is an excellent way to maximise your chances of winning in the Melbourne Cup. The thrill of betting and the dream of a big win is enhanced when you approach betting from a more informed point of view.
However, finding the right tips could be challenging. Research the best tipsters and experts, follow the news and events about the race, and, most importantly, manage your risk and greed. With these strategies, you can find the best tips and make better bets.
