Buckaroo remains the favourite for the 2024 Melbourne Cup, although his odds have drifted from $5 to $5.50 after drawing the wide barrier 21. Vauban quickly attracted notable bets from TAB after securing barrier 11, while Zardozi shortened from $21 to $17 with a favourable barrier four, and Sea King tightened from $10 into $9 after drawing barrier one.

“There hasn’t been a clear standout for punters in the Melbourne Cup, as shown by the distribution at the top of the market,” explained TAB’s Gerard Daffy.

“We’ll be watching closely over the next 48 hours to see where the money goes, as punters balance international contenders against those with strong Flemington records. This year’s Cup market lacks the singular backing that we sometimes see.”

Ahead of the barrier draw, Buckaroo held about 9% of the bets placed with TAB, with Vauban gaining the most popularity last week, close to 8% of total stakes. Interest in Onesmoothoperator had waned by Friday due to his injury status.

The next tier of horses each hold around 4-5% of bets, including Absurde, Land Legend, and Interpretation, slightly ahead of Sea King, whose odds dropped after the Bendigo Cup win. Zardozi has received considerable support, along with Kovalica, while Circle Of Fire and Okita Soushi also have solid backing. Positivity led the pack of outsiders for support leading up to the draw.

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Melbourne Cup 2024 Odds

*Existing customers only. 2nd Racing bet. Excl SA & WA. T’s & C’s apply. Gamble responsibly.