Melbourne Cup 2026 Favourite Point of Law Leads Betting on Eve of 166th Running

The race that stops a nation is almost here. The 166th Melbourne Cup runs on Tuesday, November 3, 2026 at Flemington — a $10.2 million Group 1 handicap over 3200 metres, Race 7 of a 10-race card, jumping at 3:00pm AEDT. The winner collects $4.5 million.

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The market is led by the Melbourne Cup 2026 favourite Point of Law, a Geelong Cup winner trained by Ciaron Maher and ridden by Ethan Brown. Starting from barrier 9 with 53kg at roughly $6.50-$7, the lightly raced British-bred would be the most lightly raced Cup winner of the modern era if he scores on just his sixth career start.

Second favourite is Trustyourinstinct at $7.50-$8, Joseph O’Brien’s leading hope with James McDonald aboard from barrier 18. The stable battle is the story of this year’s field: Maher saddles a record seven runners — Point Of Law, Middle Earth, Royal Supremacy, Juja Kibo, Zahrann, Mr Monaco and Shockletz — while O’Brien has five, meaning the two stables account for half the 24-horse field.

There is a jockey cloud over one Maher runner. Harry Coffey suffered a suspected fractured collarbone in a fall from Pondalowie on Derby Day (October 31) and is awaiting medical clearance to ride Shockletz, with a replacement rider to be announced by racing authorities if he cannot take the mount.

Cup Day doubles as Reserve Bank decision day, with the RBA’s fifth-rate-hike call due at 2:30pm AEDT, minutes before the race. And punters have found their moves: So You Are has firmed from $23 to $12 as the most-backed runner, while outsider Kizlyar at $41 is one bookmaker’s biggest early liability. Place your bets — the 166th Cup is hours away.

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