As you can imagine the betting centers are very busy on Melbourne Cup day as just about everyone will have a bet on the big race, even if its just a dollar or two on their favourite horse. Another popular activity on the lead up to Melbourne cup day is something that is known as the "Cup Sweeps". They are normally conducted at workplaces and most people buy into the sweeps in the hopes of winning a few dollars. In a Cup Sweep, 24 tickets are sold for a set amount, usually $1-5 and then each ticket is randomly allocated a horse from the race. Usually first place gets about 50% of the funds, then 2nd, 3rd and the wooden spooner (last place) gets the rest of the funds. The fun of the sweeps is that it is totally random and you don't have to worry about odds and you could walk away with enough to buy lunch for a $1 investment. Here is a link to sample sweeps form.
Sean: Horse 3 - Fawkner
Amanda: Horse 5 - Protectionist
Hopefully I have picked the winner this year. Normally my pick will finish in the top 5 but I have never picked a winner. Amanda on the other hand picked the winner a couple of years ago so I need to catch up before she is up 2-0.