As you can imagine, betting on the Cox Plate is extremely popular each year, with this event one of the biggest horse races on the Australian calendar. In addition to being a prestigious race in its own right, the Cox Plate is also a qualifying race for the Melbourne Cup, the richest race in Australia. This fact alone takes Cox Plate betting to another level, with punters around the country and the world trying their luck with this event.
The Cox Plate is the most important weight for age event in Australia each year, and always manages to attract the very best horses over three years of age. With over $3 million of prize money on offer, and ballot exempt status for the Melbourne Cup on the table, the Cox Plate is one of the biggest betting events in Australian racing.
Cox Plate betting has become even bigger since 1999, when this event became an official part of the Emirates World Series Racing Championship. Addition into this prestigious category opened up international interest in the Cox Plate, which now sits alongside races like the Japan Cup, the Breeders’ Cup Classic, the King George V, and the Queen Elizabeth II Stakes.
Betting on the Cox Plate generally begins a couple of months before the race, with antepost odds often on offer through online bookmakers. This allows knowledgeable punters to get in on the action early. Like most races however, the vast majority of punters will either bet on the day or on days leading up to the event, with a number of typical betting options available.
Win – A win bet offers the chance of a big reward, although the chances of success are slim. A popular type of bet in the Cox Plate, Win bets are often placed on popular favourites.
Place – Place bets payout if the selected horse comes first, second, or third. Place bets are perfect for casual and inexperienced punters at the Cox Plate, with a smaller payout than Win bets but a much bigger chance of success.
Each/Way – An each-way bet incorporates two separate bets placed on one horse. This bet can act as a safety net for punters betting on the Cox Plate, because it pays out twice if the selected horse wins and once if it places.
Exotic Bets – These bets are more risky than standard bets, but also offer a greater reward for punters. The most popular exotic bets are the trifecta, quinella, exacta, and first four.