Sports betting, being among the most popular gambling, is thriving. We can see there are countless aspects under this umbrella term. Practically any sports discipline can be put under this term. Naturally, the one you will choose depends on your criteria. Think about it; you cannot bet on a discipline you do not know enough about. Let us say you follow NBA. Then it makes sense that you will use your knowledge to try to make a profit.
Nevertheless, people usually do not know about the origins of sports betting. Little is known about horse racing being the first discipline people placed their wagers on. The origins of horse racing and betting occurred in the United Kingdom. Naturally, the influence of the United Kingdom has spread worldwide. Because of that influence, horseracing became quite popular in Australia and Canada.
While Canada is not quite the hotspot it used to be, Australia still has a significant place for horseracing. Just saw that one of the main Cups in the world is organized in Melbourne, Australia. Naturally, sports bettors can place wagers on the results on the results of the races. It can be done on countless online casinos. If you are in New Zealand, you should know the local regulation. You can learn about it at online betting NZ.
Today, we want to discuss Melbourne Cup and what we can expect in 2024.
The History of the Melbourne Cup
We want to highlight the competition’s history before discussing the cup we will witness this year. It is one of the oldest tournaments in Australia, with the first one being organized in 1861. The first winner of the competition was a horse named Archer. What makes the first years of the tournament more interesting is that the same horse was made five different times. A record was ongoing until the late seventies.
We should know that the cup is organized every first Tuesday in November. However, this is a tradition that started only recently. It wasn’t organized on that particular day during the first couple of years. In 1861, the prize for winning the race was only around 700 pounds. However, when you look at the current prize for the winner, you will see that it amasses to a couple of million.
In the last decade, the prize money reached 7 million pounds, easily among the richest. The Victoria Racing Club has organized the tournament since the first year. Melbourne tournament is easily among the most popular competitions in the country. You will see that millions of Aussies focus on these three minutes while the race lasts. Of course, numerous sponsors follow the tournament, which makes high prize money possible.
What Can We Expect in 2024?
We want to discuss what we can expect from the Melbourne Cup in 2024. This year, the cup will occur on the 7th of November. Traditionally, the race starts at 3 PM. The organizations decide the final field. Of course, the commission visits the court yearly to ensure everything is up to standards. The starting line every year consists of 24 horses, which will be no different in 2024. The prize money is divided by the first ten places.
Of course, the winner wins the highest percentage, while the remaining money is divided between other participants. While making projections before the race is finished is hard, the organizers think the turnover can be over $80 million. When you understand all the sponsorships, attendance, and how many people watch the tournament through their TV and other devices, it makes sense why they believe turnover will be this high.
Now we’ve got to the most important part of the Melbourne Cup 2024, the lineup. As is the case every year, the lineup is made of 24 horses. The favorite for winning the race is a horse named Lunar Flare. This one has appeared in previous years, but it is the first time it is a favorite. Among other prominent names, you will find horses like Justin Palace, Silver Sonic, Without a Fight, and Francesco Guardi.
Among those who are not among the favorites to win, you will find names like Emissary, Explosive Jack, Loft, Emissary, Durston, etc. While they are not considered favorites, underestimating them would be a mistake. It would not be a favorite’s first time winning a race. It happened numerous times before, and it is important to consider this. Of course, going through all these participants will tell you more about them and their previous participants in races all over Australia.
Interesting Things to Know about the Competition
Now that we have covered everything relevant for the 2024 installment, we want to discuss some important tips regarding this competition. We have mentioned the first winner of the tournament in 1861, Archie. We are talking about an underdog who won against Mormon, considered a favorite. While discussing favorites and underdogs, favorites won only 20% of the races until today.
Another interesting thing is that 39 horses were in the starting line once. It happened back in 1890, and it was the time when organizers thought about expanding due to the popularity of the tournament. However, we can see that this is completely different. The format with 24 participants is the best since it allows numerous horses to win while ensuring much-needed flexibility.
Regarding the most successful participants in the tournament, the most important name is Archie. That horse won five different years. However, Makybe Diva is the only horse that won three years in a row. It happened between 2003 and 2005. To this day, this record hasn’t been beaten by anyone. The last interesting thing we want to name is that Cup Day was a public holiday in Australia in 1877.
Summary
If you are a horseracing fan and follow Melbourne Cup every year, you are surely interested in hearing about what is prepared for 2024. You can find all the relevant information regarding this year’s tournament here. We are certain you will find the insight helpful, which might help determine whom to place a wager on.
