$600 in Bonus Bets
Get your first bet matched with up to $600 in bonuses*
$500 Matched Deposit
Sign-up and get your first deposit matched with up to $500 in bonus bets*
$500 Matched Deposit
Sign-up and get your first deposit matched with up to $500 in bonus bets*
$500 in Bonus Bets
Sign-up and get your first bet matched with up to $500 in bonus bets*
*NEW ACC ONLY, EXC NSW, SA, WA & VIC. SEE T&CS ON WEBSITE.

The fashion may be bright and the horses in fine form, but the number of racegoers and spending at the Melbourne Cup Carnival is tipped to fall this year.

Business information analysts at IBISWorld predict spending will fall 6.1 per cent to $268.9 million at the Melbourne Cup Carnival this year, while crowds will be down one per cent to just below 350,000.

Tourism is tipped to be the biggest loser, dropping an estimated 9.4 per cent, as international visitors are deterred by the high dollar and fewer people travel from interstate or regional areas for the festivities.

Spending on beauty is also forecast to drop 8.7 per cent as more people shun salons for a do-it-yourself approach.

But fashion spending is expected to rise one per cent to reach $30.3 million, IBISWorld says.

And punting is tipped to rise 1.6 per cent, putting gambling ahead of all other Cup spending.

IBISWorld says smaller crowds are likely on the back of last year’s landmark 150th anniversary.

It says that compared to other gambling spending, spending on horse races is very sensitive to economic conditions.

“Yet rising spending on fashion indicates people are still willing to splurge a little on something special,” IBISWorld general manager in Australia Karen Dobie said.

“Spending is expected to rise on essentials such as dresses, suits and hats, but accessories will suffer as we’ll be more inclined to make do with last year’s handbag or earrings.”

IBISWorld predicts $6.7 million will be splurged on dresses and suits, $6.18 million on hats and fascinators and almost $6 million on shoes.

Over the past five years, attendance at Melbourne’s Spring Racing Carnival has fallen 12 per cent, a trend likely to continue, Ms Dobie said.

 
$600 in Bonus Bets
Sign-up and get your first bet matched with up to $600 in bonus bets*
*NEW ACC ONLY, EXC NSW, SA, WA & VIC. SEE T&CS ON WEBSITE.
  • DEPOSIT $50
    start betting
    with
    $250*
    CLAIM NOW
  • first bet
    matched
    up to
    $600*
    CLAIM NOW
  • DEPOSIT $50
    start betting
    with
    $200*
    CLAIM NOW
  • first bet
    matched
    up to
    $500*
    CLAIM NOW
*NEW ACC ONLY, EXC NSW, SA, WA & VIC. SEE T&CS ON WEBSITE.
* All Offers and Promotions posted in this article exclude NSW residents.
Featured News

Over $5,000 in Bonus Free Bets

Just Horse Racing provides readers with the best Free Bet offers available at every online bookmaker in Australia during the...

Couple scams TAB out of $600,000

A couple from Sydney have orchestrated an elaborate scam which cost the TAB more than $600,000. Talanoa Raine and her...

Prairie Fire’s odds slashed for Blue Diamond

Today’s impressive Talindert Stakes winner Prairie Fire has shortened into equal favouritism for Saturday’s Blue Diamond Stakes. Prairie Fire was...

Sickening result for punters on plunge horse

One of the biggest goes this weekend was on an unraced 2YO at Doomben with the unseen runner backed from...

Lightning Stakes Results and Replay – 2018

View the results and replay for the 2018 Black Caviar Lightning Stakes. The Black Caviar Lightning Stakes was raced at...

 
 
 
Copyright © 2017 Just Horse Racing.
All rights reserved.

Gamble Responsibly 18+
*State exclusions apply to some offers. Please check T&Cs of each offer with the bookmaker. All Offers Exclude NSW residents.