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27/10/2000 edition

Melbourne Cup Betting

Following New Zealander visitor Kaapstad Way's outstanding finishing burst for second in the Caulfield Cup thousands of dollars have been put on it to win the Melbourne Cup on Tuesday, November 7. It has now firmed dramatically  in the betting to 8/1. Talking to some smart punters today here is a basic summary of their common view about backing horses now to win  the Melbourne Cup.

"If your aim is to win at racing how can you  back a horse more than two weeks in advance to win a race like the Melbourne Cup at only 8/1 when you don't know for sure the horses it is racing against, jockeys are not necessarily finalised and you do not know the barrier draws. Also if your horse does not start your money is lost! In the case of Kaapstad Way, which is an absolute duffer on rain affected tracks, how do its backers know what the track will be like on Melbourne Cup Day? It was more than likely going to be scratched from the Caulfield Cup if the track had been rain affected. So your 8/1 on it for the Melbourne Cup is the total price for at least three bets. They are:

1.The track is not rain affected. At the time of writing this on Monday, October 23 it is  pouring down in Melbourne after a glorious Saturday. That is how changeable the weather is.

2.Nothing will go amiss with the horse so it will actually start.

3.The horse will then actually win the race."

The conclusion from these smart operators was that 8/1 is terrible value. Whenever they back a horse in the Melbourne Cup it is on the actual day of the race. They all agreed that there sure is a lot of "wealthy mug money" floating around.

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