It’s the most wagered race in Australia.
But when it comes to betting on the Melbourne Cup, it’s becoming abundantly clear that punters deserve better.
Rumours started to circulate this week that two horses set to feature heavily in the Melbourne Cup betting might be in doubt because of potential issues surrounding the mandatory safety scans.
This is no knock on the scans, of course. Every horse has to undertake the process, introduced as part of strict rules to ensure that every runner is sound and can safely complete the 3200m. There hasn’t been a single fatality since they were introduced.
The two horses in doubt, according to the rumour mill, were St George and Stinger Glass.
And the smart punters acted accordingly.
St George, who we’re told was around the $11 mark on Wednesday, was eventually withdrawn by stewards on Thursday, trading at $15.
Stinger Glass remains in betting but has seriously drifted.
The Japanese star drifted from $15 to $26 on Thursday morning with TAB, to as long as $42 with Betfair.
What other reason can be given other than the market doesn’t think it’ll take its place in the race?
The situation is not isolated to 2026 either — previous editions have seen horses scratched — often once those in the know [or making educated guesses] have punted accordingly.
Racing Victoria, which has done impressive work in making the Cup safe again, needs to provide timely information to punters.
There is a view, rightly or wrongly, that RV only notifies punters of a withdrawal once it has completed discussions with the stable and owners. The politics for RV in convincing owners and stables to undertake the scans is complicated — and historically tense.
Some international stables still refuse to engage in the race because of the safety protocols.
But in a sport funded by punters — and in an industry embracing technology worth billions — it’s a situation that needs addressing.
The options really are simple.
Provide updates on the scans as they happen — even via a portal or via social media — to ensure that if punters are handing over their money in all-in markets, it isn’t just a donation to their bookie of choice.
Or request that all wagering providers don’t accept future bets on any Cup runners until they pass their scans.
Or finally, rule that if a horse fails its scans, then bets are refunded.
Given the sport is funded by every bet placed on racing, and we live in a technological age of immediate information delivery, surely the choice is simple.
