How to bet free on the Melbourne Cup today
THE biggest betting day of the year is here yet again and we're all looking for a way to make money using the generous bookmaker sign up offers available.
Basically, you sign up to an account, make a deposit, and get that deposit matched so you can have essentially a free shot at the Cup.
Not only are these bookmakers offering us a deposit bonus on sign up but they are also having money back specials throughout the race day at Flemington.
The bookmakers we're looking at particularly for Cup day are Ladbrokes, Sportsbet and BetEasy.
But what should your strategy be?
If you're really keen, go ahead and deposit $50 across each of the bookies ($150 total) and make the most of their specials to receive $500 in bonus bets.
Ladbrokes are offering new customers a 300 per cent sign up deposit bonus, which you'll receive by depositing $50 and getting $150 back in bonus bets.
They're offering you an Odds Boost on your selected Melbourne Cup runner or exotic bet (trifecta, first 4 etc) which is a good way to ramp up your winnings.
Sportsbet are offering $150 in bonus bets when you deposit $50. From there you can split that bonus bet up three ways into $50 separate bonus bets - you'll know why you want to do that later.
They will also give you a bonus bet worth up to $25 if your first fixed odds win bet runs 2nd or 3rd in races 1, 2 and the Melbourne Cup.
BetEasy are offering you a 400 per cent deposit bonus which you can get by depositing $50 and receiving $200 back in bonus bets.
Also if you back a horse in the Melbourne Cup and your horse finishes 2nd, 3rd or 4th you'll get your stake back up to $25 as a bonus bet.
NOW can you just take those free bets and punt the day away? Yep, and you'll have fun doing it because there's no risk involved.
But if you really want to cash in, there's a few tactics you can use.
We want to jump out the barriers quick (unlike Chautauqua) and we'll be betting in the earlier races.
This is also to try to take advantage of Sportsbet's special for Flemington.
Race 1 is called the Bumble Stakes, we had planned to have a $25 fixed odds win bet on the Chris Waller trained debutant called STILL SINGLE who had found the perfect named raced, but as per her name the filly is clearly not committed.
Instead we will place the $25 on SISSTAR who is a full sister to the Coolmore winning star SUNLIGHT .
To turn our Ladbrokes bonuses into cash we will also place $150 of bonus bets on CHAMPAGNE BOOM in race 1 to place, giving us some funds to use our Odds Boost on the Cup.
Hopefully we've had a win on the omen bet of the day from race 1 but if not we'll have to keep going and try to get the new account heading in a positive direction.
We'll back ONE MORE TRY in race 2 with another $25 fixed odds win bet. This mare has won four of its last five and that is good enough for us.
In race 3 if we haven't had a collect we are going to look to blast ahead on the Darren Weir trained FIFTY STARS, putting our $200 bonus bet from BetEasy on the short priced favourite, worst case we are three races down with little damage done.
We'll be using the $150 in bonus bets that we received from Sportsbet in the race that stops the nation.
Remember we've split these up in three ways? It should be noted that these bonus bets are ineligible for the money back for 2nd, 3rd and 4th offers.
So if we've made a nice collect from races 1 and 2 then it is advised to use those funds rather than the bonus bets. We want to be eligible for the money back offers if we can be.
We will have $50 on the favourite YUCATAN who was dominant in his lead up run, another $50 on MAGIC CIRCLE as we want to see how his colourful owner will celebrate the great feat and our remaining $50 on the Aussie horse RUNAWAY. This horse won the Geelong Cup at its most recent start.
BetEasy are offering us a bonus bet for the Cup if our selection runs 2nd, 3rd or 4th. It makes sense to put $25 on YUCATAN, playing it safe with the favorite.