Cox Plate

How to Bet on Horses Horse Betting for BeginnersAll bets are placed based on the numbers assigned to a horse by the track. These numbers are printed beside the name of the horse on the race program. Some tracks use the post position as the horse number. Irrespective of the method used by the track, you should always use the program assigned number when purchasing bets.
"Scratches" are horses that have been withdrawn from the race. No bets are sold on these horses. Bets are refundable on late scratches unless the bet specifically states otherwise (eg. off time favorite substituted).
Simulcasting is the acceptance of betting on a race that is being conducted at a different track.

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Types of Horse Racing Bets Straight Bets Quinella Trifecta Daily Double Superfecta Exacta Pick 3 and Pick 6

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Horse Betting Odds Odds are an approximation of how much a horse will pay to win a race. You will notice that as betting on a race progresses closer to post time, the odds will change. Why is that you ask? The monies that are wagered in a race are counted up and put into Pools.

What is a Pool? A Pool is where the total amount of money that is wagered on a specific type of bet is held to be redistributed to patrons that have correctly selected the outcome of the specific wager they have placed. Out of these pools certain percentages are subtracted. Why is that you ask? The reason being, a percentage of all money wagered go to governments, racetracks, and Horseman. The Government receives a percentage (for tax purposes) for allowing conduct racing in a certain jurisdiction. The Racetracks receive a percentage for promotions, maintaining the racetrack, and paying employees. The horsemen receive a percentage that makes the Racetracks able to offer purse money to the owners and trainers for racing horses. If there were no money, there would be no races. After the percentages are removed, the remaining money is paid out. This is where we get our payoffs for winning tickets.
The odds are usually of the form x/y (e.g. 5/1, 9/5). Dividing x by y gives a ratio to 1. The smallest ratio or the largest amount of money on a number represents the favorite.
Winning odds of 2/1 will pay $6.00 for a $2 bet, while 5/1 will pay $12.00 for a $2 bet. Payout is calculated by (odds ratio to 1) x bet amount + bet amount.
Example: For odds of 5/1, the approximate payout for a $2 bet is 5 x $2 = $10 + $2 = $12.Some tracks allow different minimum amounts on each bet type; generally, $1 bets tends to be the minimum on all bets. The odds are computed based on the sales on the bet less a government and handling tax. These deductions vary and are usually controlled by a regulatory body. Deductions may vary at the same track if there are simulcast races. In addition some tracks tax payouts in excess of a specified limit; generally, this limit is 600/1.

In honour of the founder of Moonee Valley, Sam Cox, the Moonee ValleyCommittee decided to run a weight-for-age race, the Cox Plate. The racecarried prizemoney of 1000 pounds. Because it was strategically placed on theracing calendar between the Caulfield Cup, Victoria Derby and Melbourne Cup,the Cox Plate immediately became a race of importance and prestige. Now,many regard the Cox Plate as 'the greatest two minutes in sport'.
From its inauguration, the Cox Plate has been acknowledged as one of theclassic events in international horse racing. Almost every winner has been anoutstanding horse - Phar Lap, Kingston Town, Rising Fast, Dulcify, Gunsynd,Super Impose, Octagonal, Might and Power, and Sunline's double-header in 1999and 2000. The list of winners reads like a Who Who's of the Australian turf.
And since 1999, the Cox Plate is the only southern hemisphere race to beincluded in the World Series. The World Series is horse racing's Grand Prixcircuit, spanning both hemispheres and four continents.
As Australasia's most prestigious race, the Cox Plate inclusion in the series in1999 sees it listed with the world's greatest races including the Japan Cup(Japan), the Hong Kong International Cup (HK), Arlington Million (USA), CanadianInternational (Canada), Breeders Cup Turf and Breeders Cup Classic (USA), IrishChampion Stakes (Ireland), Grosser Preis Von Baden (Germany), and the KindGeorge VI and Queen Elizabeth Diamond Stakes at Ascot (UK).
No wonder the Cox Plate is called the 'greatest two minutes in sport' and itsprizemoney has reacted accordingly rising to over AUD$3 million.