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For those that aren’t familiar with the Melbourne Cup, it is an absolutely huge horse race in Australia. The 2020 edition is scheduled for Tuesday, November 3rd, with a prize purse of $8 million AUD, it’s the one that they all want to win. In addition to this, it’s a race that attracts plenty of betting action.

We’ve hand-picked three Melbourne Cup betting tips that we feel offer tremendous value ahead of this race. By choosing from the following and backing these tips, we feel that you will be giving yourself every chance of success ahead of the race. So without further ado, let’s get right into these bets and see why they could prove to be correct for Tuesday’s race.

Our Melbourne Cup betting tips

Melbourne Cup betting tips
Best odds*
Bet here
7.00 (6/1)
17.00 (16/1)
9.00 (8/1)
*Odds correct at time of publication; please refer to bookmaker for latest prices.

Within the information below, you will see which horses we feel have a fantastic shot at crossing the line in the first position on Tuesday. Of course, these Melbourne Cup tips are not guaranteed by any means, but they have been chosen following plenty of research and analysis. Check them out below.

If you feel like backing any of the predictions we have made, we recommend placing your wagers at bet365 ahead of the race. 

Tiger Moth

This is the horse that many people are tipping for the victory, and while we’d never usually recommend going for the favorite, the odds for Tiger Moth are actually very good. In addition to this, Tiger Moth is looking in incredible shape, and even industry experts are calling this one the ‘horse to beat’ for Tuesday’s race. If you fancy backing this horse you’ll need to hurry to lock in these respectable odds, for they are drifting lower and lower due to pundits backing this horse from all across Australia.


Like many of the other horses we’ve talked about in this post, Finche is a horse that was just built for the Flemington track. This horse is powerful, fit, and definitely prefers those races that carry a slightly longer distance. This horse actually managed a finish of 7th in last year’s Melbourne Cup, but since then, the improvement and subsequent results of this horse have been clear to see. And at odds that are larger than 15-1 at most bookmakers, this is a true value bet.

Surprise Baby

Not many punters have their eye on Surprise Baby as one of the potential winners, but that makes the odds much more enticing. Naturally, given the lack of betting activity, the odds on this horse have remained quite high. Of course, this means that if Surprise Baby does cross the line in first you could have a rather hefty return. As some of you may also remember, Surprise Baby finished 5th in last year's Melbourne Cup, which means that out of all of the Melbourne Cup betting tips we've given so far, this one is right up there with the best.

Melbourne Cup Betting Tips 2020: Our predictions for the big race

The red hot favorites for the Melbourne Cup

While we have talked a lot about the horses we feel offer the best value bets ahead of Tuesday's race, we must also inform you of the favorites. After all, bookmakers list horses as ‘favorites’ for a reason, so we’d like to make you aware of which horses are estimated to have a fighting chance at crossing the line in pole position.

Sir Dragonet

We haven’t mentioned Dragonet in our value bets section above, as we don’t feel that the subsequent odds for this horse warrant taking on the bet. With that said, Sir Dragonet is still listed as one of the favorites for the Melbourne Cup, with many online bookmakers pitching this horse at around the 7-1 mark. This means that the horse is only second in line to one horse that we’ve already mentioned – Tiger Moth. To be fair to this horse, it does seem to perform quite well in the races that carry a slightly longer distance.

Anthony Van Dyck

Anthony Van Dyck is a horse that many online bookmakers have listed as the third favorite for the event, behind only Sir Dragonet and Tiger Moth. With this horse floating around the 9-1 mark, you could still get a decent return on your wager if it did cross the line in first place. The horse is still being trained by Chris Waller too, which means that the partnership is relatively unchanged since last year's race. We believe that this is also a factor for why Anthony Van Dyck is listed as a red hot favorite.

Tiger Moth

We’ve already talked about Tiger Moth as being a value bet earlier in the post, but we’d just like to reiterate that this horse is the favorite for the event. With odds of 5-1 at the time of writing, these are the lowest odds for any other horse in the field. Once the gates are announced for the Melbourne Cup, these odds might change, but only slightly.

Horses with an outside shot at victory

If you are one of those punters that prefer to go for a much higher return, which is a riskier play, you may want to read through this section. Here we have discussed a couple of horses who we feel have an outside shot of victory, however small. With that said, anything can happen in horse racing, so you just never know!

True Self

True Self is a horse that has shown time and time again that she can be dangerous on the big stages. However, many pundits refer to her as a bit of a disappointment given the talent that she obviously possesses. With that said, if she shows up on the day, she could well cause an upset, and at odds higher than 25-1, why not go for it?

Master of Reality

If you can recall the 2019 Melbourne Cup, this horse had a real shot at winning the race until he ran out of gas down the home straight. With that in mind, we believe that this could have been due to pulling the trigger too early, which is something that Dettori (jockey at the time) must have thought about after the race. However, Master of Reality is coming in at around 17-1 right now, which is pretty great odds we have to say.

Melbourne Cup Betting Tips 2020: Our predictions for the big race

Alternative bets for the Melbourne Cup

Rather than going for the outright winner of the race, you can always place a series of alternative bets too. We’ve described these alternative bets within this section, and you can generally find these markets at most online bookmaker sites.

  • Each way

This is a hugely popular horse racing bet in general, and basically, it involves placing two different bets. You will win your bet if the horse wins, of course, but you will also win the bet if the horse finishes inside the place positions highlighted by the bookmaker.

  • To place

As the name of this bet suggests, your horse only needs to finish inside the place positions for your horse to win. More often than not, an online bookmaker indicates that in order to class as ‘placing’ in a race, the horse needs to finish inside the top 3.

  • Extra place

If you want to try and play things a bit safer, you can always go for the extra place markets offered for the Melbourne Cup. While the standard ‘to place’ markets require that the horse finishes in the top three, the extra place markets can include a win if your horse finishes in the top 4 or even the top 5.

  • Accumulator

Remember, the Melbourne Cup is just one of many races that are taking place during this festival. With that said, you can combine several bets into the same bet slip by making an accumulator bet. To win this bet, all of your predictions must come true.

FAQs for the Melbourne Cup

Melbourne Cup Betting Tips 2020: Our predictions for the big race

What time is the race scheduled to take place on Tuesday?

The Melbourne Cup is scheduled to start at 15:00 local time. It is one of several races that are taking place that day at the Flemington Racetrack.

Are the odds mentioned in this post fixed?

No, the odds that we have mentioned throughout this post are not 100% fixed. In fact, the odds are likely to fluctuate between now and the time of the race. This happens due to the general betting activity on the race and any changes in the estimates of the horse’s performance on the day. For that reason, we’d recommend checking out the latest odds when you can.

Where can I make the bets discussed in this article?

In order to make any of the bets that we have talked about in this post, you will need to sign up with an online bookmaker. We believe that Neds is one of the top bookmaker sites in Australia right now, but you could also check out bet365, Unibet, and Pointsbet if you like.

What are the legal requirements to meet in order to bet on the race?

If you want to actually go ahead and make a bet on this race, you need to be over the age of 18 and be a resident of Australia. These details will be checked by whichever betting site you sign up with.