Melbourne Cup betting was buzzing today when a huge plunge was launched on the topweight Yeats.

Punters behind the plunge placed bets across all leading betting agencies in Australia at odds as high as $15.

The plunge caught operators by surprise and has been described as the biggest early move in Melbourne Cup betting for several years.

By the time the instigators had finished placing bets the price on Yeats had tumbled to as low as $7 with some leading bookmakers.

Operators described the plunge as "significant" after they realised it had come from the right overseas sources.

Sportingbet Australia identified the plunge as been driven by a UK-based punter.

The punter placed $166,000 each way at $13 on Yeats with Sportingbet in the biggest of his bets with bookmakers and TAB operators.

Sportingbet stands to pay out $2 million on the single wager if Yeats wins the Melbourne Cup.

Tab Sportsbet reported Yeats was backed to win $425,000 in less than 30 minutes of constant support that started with a win bet of $9000 at odds of $15.

Other bets laid by Sportsbet against Yeats included $20,000 at $12 and $6000 at $12.

The Melbourne move for Yeats also started at $15, $10 was taken and a bet of $5000 each way was placed at $8.

Yeats is now disputing Melbourne Cup favouritism with AJC Derby winner Headturner.

The plunge indicates trainer Aidan O'Brien has all but made up his mind to send Yeats to Australia after he runs in the Irish St :Leger at the Curragh this weekend.

Yeats, winner of the Ascot Gold Cup and the Goodwood Cup at his last two starts by big margins, is topweight for the Melbourne Cup with 59kg but can be penalised if he wins the Irish St Leger.

Story By Chris Scholtz


interesting stuff....might now get some value about the others