If you think trifecta, quinella and exacta sound more like Italian pasta than horse racing betting terms, you have come to the right place. Check out the Melbourne Cup betting guide for more exotic betting types.
On the first Tuesday in November, Melbourne Cup 2019 will hold its 159th ‘race that stops a nation’. Not only is it one of the most celebrated events on the Australian calendar, the Melbourne Cup is the horse racing industry’s grandest day of the year.
But, like many Aussies out there, you might find putting a bet on quite intimidating. With all those strange words and phrases, the forms are populated with more boxes than a voting form. It is one thing to bet on a single winner but another when you want to try your hand at picking a trifecta.
With this in mind, we have rounded up some tips for placing one of the more exotic bets. Trifectas offer punters better returns. So, buckle up, read through the tips and you’ll be over the finish line with enough confidence to place riskier bets in no time.
- Get Rid Of The Favourite
Jim Cramer of Handicapper’s Data Warehouse studied 146,617 trifecta races which determined that trifectas involving the favourite were bad bets. Typically, two-thirds of all tickets will include the favourite, while the second favourite will be on half the tickets. If both horses come in first and second place, it is likely you won’t receive a great return. If you eliminate at least one of the favourites, you will be playing against the crowd’s choice.
That said, your number one starting point should be to throw out the favourite because you are hankering for worthwhile returns. It might be difficult to think of the favourite not running a position, but from 1861 when the first Melbourne Cup was held, to 2013, the favourite has won 34 times out of 153 races. So, the favourite horse has only a 22 percent chance of winning. There is a 46 percent chance of the favourite coming first, second or third in the Melbourne Cup.
So, if you want the chance to win big, don’t go betting on the favourite. Pick an undervalued runner with good odds and you will reap the rewards.
- Get Rid Of The Slowcoaches
While it is possible the no-chance laggard will sneak its way into the third spot, there are certain horses you need to eliminate. Toss out the slow horses if you think they won’t get in six lengths of the leading horse. There is a small chance they will feature in the trifecta, but you are better off focussing on horses with a justifiable chance and not just betting on a runner with four legs.
- Trifecta Types
There are many different options for trifecta bettors – straight, boxed and banker being the simplest of them. The most popular type of trifecta is the boxed trifecta. It allows punters to select as many horses as they want to run in first, second and third places. The selected runners can cross the line in any order, and you can choose as many horses as you wish.
But there is a downside. A boxed trifecta costs more than a straight trifecta, which is the most affordable but also the most difficult to win because the punter is allowed only one selection in each of the three positions – in order.
The banker trifecta is the lower cost form of trifecta but considerably more difficult to win. Bettors pick one horse to win (your banker) and then choose more than two horses to come in second and third positions.
The best strategy when relying on a banker selection is to link it to three other horses for second and third and takes a total of 18 runners for third, costing you $51. Another strategy is placing your win banker in first, second and third, with a total of five in second and 11 in third. This will cost $50. If your banker wins, you have five running for second and ten on the field competing for third. If you have done your homework you will have the trifecta covered, but remember, the more multiples you have shooting for first, second and third the higher the cost.
The important thing to remember here is that there are many strategies that apply in trifecta betting, but the better strategies depend on the structure of the event. It’s worth mentioning also that in 2003, a punter accidentally won $2.6 million by correctly selecting the Melbourne Cup trifecta and entering his bet numerous times.