Australians still betting big on Melbourne Cup, despite many saying they’re losing interest in race

By Henry Belot · The Guardian World

But money spent betting on horse racing overall has sharply declined amid cost-of-living pressures and regulation Get our breaking news email , free app or daily news podcast Australians say they are losing interest in the Melbourne Cup and the animal welfare campaign against it has never wavered , but the amount of money gambled on the race has barely changed since the pandemic. Wagering turnover on the Melbourne Cup has fallen only slightly from the $221m recorded in 2020 to $214m last year. The five-year average spend, according to Racing Victoria figures, remains $220m. Continue reading...