The 2024 Melbourne Cup thrilled spectators and delivered extraordinary wins for a few lucky punters gambling with real money. It proved once again that the "race that stops a nation" can create life-changing moments. In one of the most unexpected finishes, outsider Knight’s Choice seized victory, leaving bookies and bettors alike reeling. This year’s Cup saw a blend of bold wagers, exotic bets, and memorable windfalls that will go down in Melbourne Cup history.
An Unbelievable Payout: $100 Bet Turns Into $3.2 Million
A Ladbrokes customer turned a modest $100 into a staggering $3.2 million by boxing Knight’s Choice, Warp Speed, Okita Soushi, and Zardozi in a first-four bet. This remarkable win ranks among the most impressive in Melbourne Cup history, following in the footsteps of millionaire John Singleton’s risky big bet on Dear Demi in 2013 - a $3 million gamble.
Defying the odds, this Ladbrokes punter’s carefully chosen combination produced a first-four dividend totaling $728,015.70. With a 416.66% stake, this daring wager resulted in one of the most extraordinary payouts the Cup has ever seen.
TAB Mystery Bet Yields Big Rewards
Another big winner was a punter who, with just a $24 mystery first-four bet through TAB, walked away with a $728,000 prize. This mystery bettor, who placed the wager at the Bairnsdale RSL in East Gippsland, likely didn’t anticipate such a massive return. The success of this small gamble highlights the unpredictable thrill of Melbourne Cup betting, where even a modest bet can turn into a life-altering windfall.
Big Bets and Strategic Wins
While long-shot bets dominated the day, several other high-stakes wagers also brought significant returns. A standout was a $1,000 bet on Knight’s Choice at $81 odds, earning a cool $81,000 for one bold punter. Warp Speed, which finished in second place, offered solid place odds of $6, allowing another bettor to cash in a $2,000 stake for a rewarding payout. Okita Soushi also delivered for a high roller who wagered $4,750 each way, taking home $20,900 when the horse secured a top-three finish.
Exotic Bets and Massive Payouts
The Melbourne Cup’s exotic bets also drew attention, with the quinella (picking the first two horses in any order) paying $806, the exacta (the first two horses in exact order) offering a $2,324 return, and the trifecta reaching $30,604.70. The results proved more than rewarding for those willing to take on the added complexity of these bets. These exotic options allowed bettors to win big without necessarily betting on the race winner.
Bookies’ Liability and the Gamble That Didn’t Pay
For bookmakers, the 2024 Melbourne Cup was a risky endeavor. Ladbrokes revealed a potential $3 million liability if Knight’s Choice claimed victory, which ultimately materialized into a $2.4 million loss by the end of the race. TAB also covered significant winnings, particularly in the case of large place bets and the first four bets that went against the odds. This unpredictability is part of what makes the Melbourne Cup a high-stakes occasion not only for punters but for bookmakers as well.
Other Notable Bets: Near Wins and Close Calls
Not all punters walked away with winnings. Some came heartbreakingly close but were unable to cash in. A memorable instance involved an $8,000 bet on Positivity, with odds of $126—this would have netted the bettor over $1 million had it landed. Unfortunately, the horse didn’t place, leaving the bettor with nothing. Similarly, seasoned bettor Tom Waterhouse saw substantial stakes on several horses that didn’t produce returns, including a $133,000 bet on Buckaroo. The race’s results were a reminder of the risks involved in high-stakes betting, where even the best-prepared bets can go awry.
A Historic Day of Betting Wins and Upsets
The 2024 Melbourne Cup will be remembered for Knight’s Choice’s thrilling finish and the incredible wins that kept punters talking. Stories of people turning small bets into life-changing payouts capture the unique excitement of Melbourne Cup betting, where anyone willing to take a risk and with a lot of luck can come out on top. This mix of high stakes and surprising wins keeps the Cup close to the heart of Australians. Whether through careful planning or a lucky hunch, the Melbourne Cup remains the ultimate test of chance and courage for punters everywhere.
