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Our Melbourne Cup 2026 tips: Defiantly heads an open early market, Half Yours defends his title, and the Caulfield Cup on Saturday is the next big guide.
Melbourne Cup 2026. The race that stops a nation runs on Tuesday 3 November 2026 at 3:00pm AEDT over 3200m at Flemington, the 166th running of Australia’s most famous race. This is our complete Melbourne Cup guide: the 2026 date and start times, the field and how it’s drawn, tips and best bets, live odds, the form guide, how to watch, past winners and FAQs, updated right through the spring with the latest field, odds and our best bets.
18+ T&C's Apply. What are you really gambling with? Chances are you're about to lose. Set a Deposit Limit For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au
18+ T&C's Apply. What are you really gambling with? Chances are you're about to lose. Set a Deposit Limit For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au
#AD 18+ T&Cs Apply Imagine what you could be buying instead. For free & confidential support call 180 0858 858 or visit gamblinghelponline.org.au
Melbourne Cup 2026: Key Details
| Detail | Value |
|---|---|
| Race | Lexus Melbourne Cup (Group 1) |
| Date | Tuesday 3 November 2026 |
| Start time | 3:00pm AEDT |
| Venue | Flemington, Melbourne |
| Distance | 3200m (two miles) |
| Conditions | Open handicap, 3yo & up |
| Field size | 24 runners (no emergencies) |
| Prize money | ~$10 million |
| Broadcast | Network Nine & 9Now (free), Sky Racing, Racing.com |
On Cup Day in Sydney: The Big Dance.
When is the Melbourne Cup & What Time Does It Start?
The Melbourne Cup is always run on the first Tuesday in November, in 2026 that’s Tuesday 3 November, with the Cup jumping at approximately 3:00pm AEDT as Race 7 at Flemington. Local start times differ in every state (it is midday in Perth), see Melbourne Cup start times by state, and how to watch for the full breakdown, streaming options and whether it is a public holiday where you are.
Melbourne Cup 2026 Field & Horses
The Melbourne Cup field is capped at 24 runners with no emergencies, and the final field and barrier draw are confirmed after the last race on Derby Day, Saturday 31 October 2026. Horses earn a start through ballot-exempt wins in the eight qualifying races, with the rest of the field settled on the handicapper’s ratings and the order of entry.
I track every stage of that process: the key dates, the ballot-exempt races, how to read the order of entry and what the barrier draw is worth over 3200m, in my full guide: Melbourne Cup field: horses, barriers, odds & order of entry →
Melbourne Cup Tips, Best Bets & Predictions
Our early read. The market is unusually open. Defiantly heads it at around $9 on the strength of a commanding win in the Prix Kergorlay at Deauville, the same race Americain and Protectionist won before their Cups, and he already has a ballot-exempt start. Half Yours, last year’s winner, is at $10 to $11 after a quiet fifth in the Turnbull Stakes, and Saturday’s Caulfield Cup will tell us far more about him than that run did.
We are not taking a fixed price yet. In a 24-runner handicap the value usually comes after the barrier draw on Derby Day, when weights, gates and scratchings are known, and the Caulfield Cup can reshape the top of the market in an afternoon. Our final selections, each-way plays and exotic structures go up here once the field is drawn on Saturday 31 October.
Melbourne Cup 2026 contenders: the early market
The top of the all-in market as of 12 October 2026 (Neds). All-in prices mean your bet loses if the horse does not start.
| Horse | Trainer | Price | Why he is in the market |
|---|---|---|---|
| Defiantly | Joseph O’Brien | $9.00 | Won the Group 2 Prix Kergorlay (3000m) at Deauville in August, which earned a ballot-exempt start |
| Half Yours | Tony & Calvin McEvoy | $11.00 | Defending champion, fifth in the Turnbull Stakes; runs in the Caulfield Cup on Saturday from barrier 7 with 57.5kg |
| James J Braddock | Joseph O’Brien | $11.00 | Irish-trained stayer in the O’Brien team |
| Trustyourinstinct | Joseph O’Brien | $11.00 | Irish-trained stayer in the O’Brien team |
| Shockletz | Ciaron Maher | $13.00 | Local stayer in the early all-in market |
| Zahrann | Ciaron Maher | $17.00 | Naturalism Stakes winner; runs in the Caulfield Cup from barrier 4 with 53kg |
| Wine Dark Sea | Harry Charlton | $17.00 | International raider; runs in the Caulfield Cup from barrier 19 |
Lead-ups still to come
| Date | Race or stage | Why it matters |
|---|---|---|
| Sat 17 October | Caulfield Cup (2400m) | The classic Melbourne Cup guide. Half Yours, Zahrann and Wine Dark Sea all run |
| Wed 21 October | Geelong Cup (2400m) | A traditional springboard for international stayers |
| Sat 24 October | Cox Plate (2040m) | Weight-for-age form, at Flemington this year |
| Sat 31 October | Derby Day, Victoria Derby and the Lexus Stakes | Last chance to earn a start; the final field and barriers follow the last race |
| Tue 3 November | Melbourne Cup, 3:00pm AEDT | Race 7 at Flemington |
The staying test over 3200m rewards proven two-mile form, a strong recent Cups campaign, a manageable weight and a fair barrier, and internationals proven over a distance abroad are always a factor. For how the 24 starters are decided, see our Melbourne Cup field and order of entry guide.
How to Bet on the Melbourne Cup
The Cup is the biggest betting race of the year. Win and each-way are the staples, but with a 24-horse field the exotics are where the day is made, the quinella, trifecta and first four all pay big, and the quaddie on the Flemington card is a popular play. All-in futures trade from months out as the lead-ups unfold, so backing a runner before the final field firms is the value angle. Plenty of punters also run an office Melbourne Cup sweep, draw your runner from the 24 and follow it home. For live Melbourne Cup odds and the best price on every runner, compare the leading Australian bookmakers in our toplist below.
Melbourne Cup Odds & Favourites
Melbourne Cup markets open in the winter and move all spring as horses qualify and the weights land. A word of caution on the favourite: the Cup is famous for upsets, Knight’s Choice saluted at $91 in 2024, so favourites are far from a lock in a deep, evenly-weighted staying handicap. That’s why each-way and the exotics carry such appeal. As of mid-October the 2026 favourite is the Irish stayer Defiantly at around $9, with Half Yours next at $10 to $11. We track the market through the carnival; for the latest fixed-odds and futures prices, see the bookmaker comparison below.
Melbourne Cup Form Guide
The form lines that matter run through the spring staying races. The Caulfield Cup (2400m) is the classic Melbourne Cup pointer, Without A Fight completed the Caulfield Cup–Melbourne Cup double in 2023, while the Cox Plate, Geelong Cup, Bart Cummings, Lexus Hotham Stakes and the Mackinnon-week lead-ups all feed the field. Overseas, form out of Royal Ascot’s Gold Cup, the Prix de l’Arc de Triomphe and the major European staying races is a strong guide to the international raiders. Weight, barrier and a genuine two-mile pedigree round out the picture.
Melbourne Cup Recent Winners & 2025 Result
The full finishing order for every recent Cup is on my Melbourne Cup results page. The 2025 Lexus Melbourne Cup was won by Half Yours, ridden by Jamie Melham, the second female jockey to win the Cup, for the Tony & Calvin McEvoy stable, scoring by three lengths. Recent winners:
| Year | Winner | Jockey / Note |
|---|---|---|
| 2025 | Half Yours | Jamie Melham (2nd female jockey to win) |
| 2024 | Knight’s Choice | $91 boilover |
| 2023 | Without A Fight | Mark Zahra, Caulfield–Melbourne Cup double |
| 2022 | Gold Trip | Carried 57.5kg topweight |
| 2021 | Verry Elleegant | Beat Incentivise |
For the complete roll of honour from 1861, the placegetters and famous champions like Phar Lap and three-time winner Makybe Diva, see our Melbourne Cup past winners list.
History & Background
First run in 1861, the Melbourne Cup is a 3200m handicap and the pinnacle of Australian staying racing, “the race that stops a nation”. For the full story, every winner since 1861 and the prize money breakdown, see my Melbourne Cup past winners, history & prize money guide.
How to Watch the Melbourne Cup (Live Stream & TV)
The 2026 Melbourne Cup is broadcast free-to-air on Network Nine and streamed live on 9Now, with full race-day coverage on Sky Racing and Racing.com. You can also live stream the race with most licensed Australian bookmakers, fund an account and the vision is available in-app. Replays are posted by the VRC and on Racing.com shortly after the race.
Melbourne Cup Day & Public Holiday
Melbourne Cup Day is a public holiday across Victoria (and a part-day or regional holiday in some other areas), held on the first Tuesday of November, which is Tuesday 3 November in 2026. Beyond the racing it’s a national social occasion, headlined by Fashions on the Field and the wider Melbourne Cup Carnival, which also features Victoria Derby Day, Oaks Day and Stakes Day.
Best Bookmakers for the Melbourne Cup
For a full comparison of the top Australian racing bookmakers, best odds, futures markets and live streaming, see our best horse racing betting sites in Australia guide.
#AD 18+ T&Cs Apply Imagine what you could be buying instead. For free & confidential support call 180 0858 858 or visit gamblinghelponline.org.au
18+ T&C's Apply. What are you really gambling with? Chances are you're about to lose. Set a Deposit Limit For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au
18+ T&C's Apply. What are you really gambling with? Chances are you're about to lose. Set a Deposit Limit For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au
18+ T&C's Apply. What are you really gambling with? Chances are you're about to lose. Set a Deposit Limit For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au
#AD 18+ T&Cs Apply Imagine what you could be buying instead. For free & confidential support call 180 0858 858 or visit gamblinghelponline.org.au
18+ T&C's Apply. What are you really gambling with? Chances are you're about to lose. Set a Deposit Limit For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au
Exclusive 365AUCODE referral code: bet365 does not offer bonus codes in Australia and this referral code does not grant access to offers.18+ T&C's Apply. What are you really gambling with? Chances are you're about to lose. Set a Deposit Limit For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au
Melbourne Cup FAQs
Who is the favourite for the 2026 Melbourne Cup?
As of mid-October, Defiantly is the favourite at around $9, after winning the Prix Kergorlay at Deauville to earn a ballot-exempt start. Defending champion Half Yours is next at $10 to $11. Prices move after every lead-up, so check them again after the Caulfield Cup and the barrier draw.
When will the Melbourne Cup 2026 field be confirmed?
The final 24-horse field and barrier draw are confirmed after the last race on Derby Day, Saturday 31 October 2026. Our final tips are published once the field is drawn.
When is the Melbourne Cup 2026?
Tuesday 3 November 2026, always the first Tuesday in November, at Flemington.
What time does the Melbourne Cup start?
Approximately 3:00pm AEDT (2:00pm in QLD, 2:30pm in SA, 12:00pm in WA).
Who won the 2025 Melbourne Cup?
Half Yours, ridden by Jamie Melham, the second female jockey to win the Cup, for trainers Tony & Calvin McEvoy, by three lengths.
How many horses run in the Melbourne Cup?
A maximum of 24 runners, with no emergencies.
How much is the Melbourne Cup worth?
Around $10 million in total prize money, making it one of the world’s richest staying handicaps.
Is Melbourne Cup Day a public holiday?
Yes. It is a public holiday across Victoria, held on the first Tuesday of November.
How can I watch the Melbourne Cup?
Free-to-air on Network Nine and 9Now, plus Sky Racing, Racing.com and most bookmaker live streams.