The Melbourne Cup 2009 horse race is going to be another Australian spectacle rarely seen in the sporting world. Attracting hundreds of thousands of spectators, both at Flemington and in front of TV’s, radio’s and the Internet, many of them wonder about the odds of betting for the Cup.

Horse betting odds and how you can increase your chances of backing a winner:

Backing a winning horse with favourable odds is just about everyone’s dream when it comes to sports betting. But as it happens none of us is any the wiser when we finally pick our sweep stakes, the only thing that sets the winners apart from the losers is inside knowledge of the stars of the show – the thoroughbred horses and chance luck.

Serious punters stay informed about each horse’s condition prior to the race. Anyone keen enough to attend the action of the Melbourne Cup arranges for accommodation months before the event to secure a suitable stay close to Flemington.

If you do the math of a random horse selection your chances of backing a winner would be 1 in X, X being the number of horse in the race. For example if 14 horses compete then your chance would be 1 in 14 in that instance. In percentages this would mean a 7.14 % chance of picking a winner.

Naturally when you bet you are given the odds of each horse to aid you in selecting a perceived winner or an outsider. In the end one never truly knows until the race has been won.

How much money do I need to bet on the Melbourne Cup 2009?

It is entirely up to you how much of your money you like to wager on any given horse. You can bet $20, $100 or even thousands. Some reckon that all punters combined bet around $140 million on the race each year.

You should only bet the money you can safely afford to lose.

Not keen on betting?

Not everyone is keen on placing bets on the Melbourne Cup 2009. If you rather save your money why not open a term deposit account or else bet on a trifecta because the potential win is higher than with a term deposit. Of course the risks are higher too but then there is no gain without pain. You knew that didn’t you?