Melbourne cup
I’ll be interested to see what the Melbourne cup does overnight this year.
This is the first time it has been run since the turnover tax was implemented in Australia which the objective of protecting the incumbent operators in the market. I think the outcome, so far, has shown that traders don’t dominate the market in the manner people previously assumed. Turnover, as far as I can see, on most big races is pretty much the same as before and market behavior is pretty much unchanged.
In prior years this race has generated big volume: –
£2.7m in 2009, £4.2, in 2010 and £3.3m in 2011. Amounts often vary depending on the price of the favourite but, it will be interesting to see what 2012 comes in like. At the moment it’s already building nicely, so it looks like it could be a big one.
Good luck if you are doing anything on it.
Category: Australian, Horse Racing
