Melbourne Cup day decoded: How to pick a winner

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Melbourne Cup Day is the most anticipated day on the Australian racing calendar. It's an event that brings together horse-racing enthusiasts from all walks of life, and it's not just about picking a winner. Instead, the whole country stops to celebrate this iconic race with friends and family.

The race that stops a nation has produced numerous memorable moments since it was first run back in 1861, from Makybe Diva becoming the first horse to claim three consecutive wins to the people's champion Phar Lap who lifted the spirits of a nation during the Great Depression of the 1930s.

Picking the winner each year remains an elusive challenge for many, but with a bit of homework, you can give yourself the best chance of handing in a winning ticket this year.

Here are some Melbourne Cup tips that will prepare you and give you the best chance of picking the most likely chances from the field.

The lead-up races are the perfect opportunity to find your winner. These smaller races are often overlooked by punters and bookmakers alike, but they can be a great way of finding an outsider that might have what it takes on the big day.

Older horses have been around longer, so they might be wiser than younger horses who haven't had as much time to learn from other races.

Second, check what sex they are because there are different strategies for each one. For example, female horses tend to be better at sprinting, while male horses usually win over long distances.

Don't completely draw a line through the mares, though. While there have been only 16 female winners of the cup, one of those just happened to be the great Makybe Diva, the greatest horse in the history of the race.

Remember, you are not just picking a horse. This is a team effort, and the jockey's ability to steer their steed to victory will play an enormous role, as will the trainer's efforts to prepare the horse for the gruelling distance.

A horse trained by Gai Waterhouse or the late Bart Cummins and ridden by Damien Oliver has been a formula for success in previous years.

The penalty for success in the Melbourne Cup (and other major races like the Caulfield Cup) is that the great horses will be laden down with weight to handicap them and even the field.

So it pays to check out their previous form racing with heavy weights, some horses will fatigue quickly, but the true greats will storm home regardless.

There have been many great Australian horses, but the very best thoroughbreds worldwide will be coming to Melbourne to chase the riches on offer here.

Ever since Shocking saluted in 2009, there has been only one Australian winner (Vow and Declare in 2019) with Twilight Payment (Ireland), Cross Counter (UK), Rekindling (UK), Almandin (Germany), Prince of Penzance (New Zealand), Protectionist (Germany), Fiorente (Ireland), Green Moon (Ireland), Dunaden (France) and Americain (USA) all winning the race that stops a nation.

So make sure you do your research on the overseas entries because they have serious form on the board.

Finally, remember that betting responsibly will help ensure that this event becomes an enjoyable experience rather than a costly one.

With these tips, you'll feel confident making your bets and having an enjoyable experience at the racecourse without any regrets. So go ahead, place your bets with confidence but never bet any more than you can afford to lose.