By Lucy Henderson

We are hours away from crowning the 164th champion in a wide-open edition of the Group 1 $8.56 million Lexus Melbourne Cup (3200m), and below we take a look at the race day market movers ahead of Flemington Race 7 at 3:00pm (AEDT).

For some the 2024 Melbourne Cup field is lacking depth and it’s true, there has been a high attrition rate with some key early fancies ruled out.

No. 10 Athabascan (John O’Shea & Tom Charlton) was scratched from the 2024 Melbourne Cup field on Monday afternoon after being found to be suffering from cardiac arrhythmia in his mandatory final check by RV vets. Click here for the full story. 

But what that means punters, is we have an open betting race!

This is a Melbourne Cup that literally any of the 24 horses in the mix could win without surprise.

Are we looking at an international champion with Vauban out to atone?

Can Buckaroo go the distance?

Is The Map ready to score an upset and send South Australia into absolute scenes?

Will we see another 100/1 roughie get up like Prince Of Penzance did in 2015?

There are storylines galore, and the punters are coming for a range of contenders.

So, let’s have a look where the money is at in Melbourne Cup betting today.

It is a super tight betting battle between Vauban and Buckaroo with the former narrowly winning into $6.50 now to atone after jumping favourite only to run 14th when failing to fire in last year’s race.

Melbourne Cup Day 2023 was a blistering hot one and this horse didn’t handle the heat.

Cooler weather, a different and impressive lead-up campaign back in Europe, the confidence of Willie Mullins to bring him back, William Buick on, and into barrier 10?

Lots to like for those backing the favourite in the Melbourne Cup this year!

But be warned, the last Melbourne Cup favourite to salute for the punters was Fiorente ($7 in 2013) so it’s been some time!

There’s been a big late move on the talented James Cummings-trained Zardozi to become the latest Melbourne Cup winning mare joining an elite list of female stayers.

Verry Elleegant (2021), rest her soul, was the latest and this four-year-old ticks a few boxes.

She has been backed in from $17 to $12 to salute for the Royal Blue and gets a dream run from barrier three (in from four).

A VRC Oaks winner as a filly at this track, she is one of the better untested hopes to see out the two miles.

Carries 51kg and has Italian hoop Andrea Atzeni in the saddle.

It has been a while between drinks with her latest win being a Group 2 back in March but the lead-up runs are strong including a The Metrop second, Caulfield Cup fourth, and fifth in last weekend’s Empire Rose when dropped back to 1600m.

Big ask to go from a mile to two miles but she’s Cummings-trained and had a traditional Cummings’ prep.

Still at a big price but this Kiwi galloper has been one of the best backed Melbourne Cup horses in 2024.

Graeme & Deborah Rogerson’s Redwood five-year-old is drawn midfield for Michael Dee with 53.5kg. He’s a Group 1 winner, VRC Derby placegetter, NZ Derby champ, and caught the eye with a Moonee Valley Gold Cup third at weight-for-age last time out.

Top six wouldn’t surprise.

There’s always interest in the longest priced horses in Melbourne Cup betting each year with punters hoping to clean up like those who backed Prince Of Penzance did at 100/1 in 2015!

The Melbourne Cup. Plenty of betting angles as usual, with one being whether BUCKAROO (2) will run 3200m strongly. Gelded this campaign, he's been outstanding in defeat at his past two starts, nosed out by Via Sistina in the G1 Turnbull Stakes before charging into second in the G1 Caulfield Cup. That looked a perfect Cup trial, the gamble is whether that translates to two miles. VAUBAN (1) returns to Flemington having started favourite in this race last year and failing. He's coming off a tough second to a superstar in Kyprios and if he handles the occasion, he'll just about win. INTERPRETATION (18) has a sense of timing. He's flown home at his past two and was excellent from a long way back here last year. KOVALICA (5) is very interesting out to a trip, which we haven't seen since his G1 Queensland Derby win. He's got the ability. ONESMOOTHOPERATOR (13) and SEA KING (15) were both excellent at their local debuts and come here with genuine chances.

WHAT ARE YOU REALLY GAMBLING WITH?

For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au.