Melbourne Cup Strategy

About the author:

Michael Knox
Author name:
By Michael Knox
Job title:
Chief Economist and Director of Strategy
Date posted:
04 November 2014, 9:20 AM

Economists generally have enough sense to know that they nothing about horse races. There are people who do, and they are called tipsters. Every Melbourne Cup Day, their tips are published in major newspapers.

Today we have taken the tips published in The Australian newspaper. There are six tipsters in all. From these tipsters we construct our most favoured rating. Every horse nominated to win gets 3 points. Every horse nominated to come in second gets 2 points. Horses nominated to come in third get 1 point.

Today the total points provided are:
  • Admire Rakti - 10 
  • Protectionist - 8
  • Fawkner - 8
  • Signoff - 5
  • Lucia Valentina - 3
  • Araldo - 2

In order to generate the value for each horse, we multiply these points by the odds. The odds in the electronic market at 9am this morning for these horses were:

  • Admire Rakti - $5.50
  • Fawkner - $7.50
  • Protectionist - $8.00
  • Signoff - $8.00
  • Lucia Valentina - $7.00
  • Araldo - $26.00

When we multiply the odds by the most favoured rating, the value points for each of these runners is shown in the table below:

2014 Melbourne Cup value chart

Consequently, our recommendation this year is for an each way bet on Protectionist.

Disclaimer: Remember our recommendation is for the best value bet rather than for the highest probability of winning

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