Global financial crisis or not, it won't stop Australians of all ages and creeds from getting a bet on today in the country's favourite race -- the Melbourne Cup.
Betting agency Tabcorp expects to at least match its 2007 turnover of $159 million, but it's telling once-a-year punters to bet early.
If you're lucky enough to be among the 100,000-plus racegoers at Flemington to watch the race, there will be 575 TAB betting windows along with 140 self-service Easy Bet terminals. Punters at Flemington last year bet $11.5 million on the day.
Much of this year's plunge will go on English five-year-old Mad Rush which took over as outright favourite yesterday afternoon at $5, while compatriot Septimus is at $5.50.
In a field dominated by international horses, Zipping is the best fancied Australian at a lengthy $16 and has Prime Minister Kevin Rudd on his side, for dubious reasons.
Mr Rudd was asked at a Brisbane media conference what horse he tipped for the cup. He replied: "Why have I chosen Zipping? Because it's time to zip," and brought an end to the conference.
Like those at Flemington, the Coast will be wining and dining away the worries of the economic crisis as they cheer on their favourite horse and down more than their fair share of beer or bubbly today.
The platters are expected to be piled high and glasses overflowing at the Gold Coast Turf Club with sous chef David Banton ready to feed the army of racegoers.
More than 350kg of prawns, 500 dozen oysters and 350kg of fillet steak will be prepared and presented to feed the expected crowd of about 10,000.
Mr Banton said the current financial concerns had not deterred the crowds from turning out for one of the biggest social events of the year.
"It's like they always say, people seem to eat, drink and punt more when they have money troubles," he said. "We've been busy preparing all the food, with our work cut out for us tomorrow but it looks like it's going to be a great day all around."
At Conrad Jupiters, chefs are expecting to feed about 4000 people at two different events and four different restaurants.
The Marriott is also predicting a big turnout at their Cup festivities with event prices varying from $55 per person up to $135.
The chefs have ordered in 150kg of prawns, 1800 oysters, 1200 glasses of champagne, 780 glasses of wine as well as the piece de resistance of four spit-roasted suckling pigs featured in the Lagoon buffet.
At the Convention and Exhibition Centre there will be the Sea FM Centre of Melbourne Cup lunch hosted by radio hosts Moyra and Baggs with more than 900 expected.
Over at The Villa duty manager Shawn Elsmore said they would have a smaller crowd of 90.
"The chefs have spent five hours preparing canapes and they haven't even got to the cocktail part yet so it will be an early start for them tomorrow," he said.
Greg Tingle comment...
As many punters and switched on casino news media types know, the smartest money bet is being an insider and putting these things on, running an agency, or being on the payroll of TAB, Crown, EzyBet or something to that effect. At least before pending changes to Australian sports betting and online casino laws. That will be covered at CAP Down Under. I'm waiting for Virgin Games and PKR to launch animated horse racing betting. Given the technology now it's viable. The Mad Rush is on.
(Credit: The Gold Coast Bulletin)
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