With the 2011 BTC Cup only two days away, the BTC Cup betting markets are heating up ahead of what is sure to be an incredible demonstration of talent on display this Saturday May 14, 2011.
Set to be one of the most exciting races on the horse racing calendar, the 2011 BTC Cup is a Group 1 race that is wroth $400,000 and run over a distance of 1,200 metres.
It is no surprise that the current favourite for the 2011 BTC Cup is the currently unbeaten Black Caviar, who is paying odds of $1.16 at Luxbet to win the race.
Originally opening at competitive odds of $1.25, a number of high roller bets have seen her firm into $1.18 and then again into the current $1.16.
Sportingbet Australia CEO, Michael Sullivan, said there has been an unwavering support for the mighty Black Caviar.
“We put her up $1.25 early in the week but the punters just went bang with a bet of $50,000 starting a huge rush of bets that saw her trim up to $1.20,” Mr Sullivan said.
Mr Sullivan said that Black Caviar’s perfect barrier draw of four led even more punters to lay their stakes on the talented four-year-old.
“After she drew barrier four, we moved her in again to $1.18 as she will get the perfect run but punters had the phone ringing off the hook once more,” Mr Sullivan said.
“A bet of $150,000 at $1.18 led the charge and punters just haven’t let up since.”
The big bets have caused bookies to drop her odds to $1.16, a price that is sure to get even shorter in the coming days.
“She is at a price we are happy to lay now and from what we have seen so far, punters will continue to come for her,” Mr Sullivan said.
Sportsbet’s Hayden Lane told that some of the biggest bets in the company’s history have come for Black Caviar, with one punter placing a bet of $500,000 earlier today.
“Clearly this punter believes a 16 percent return is better than most forms of investment,” Mr Lane said.
“All going to plan, he only has to wait just over a minute on Saturday to collect a cool $80,000 profit.”
The current second favourite in the 2011 BTC Cup betting market is the talented Hay List, who is paying odds of $6 to win the race at Luxbet.
Opening at a price of $5.50, a wider than hoped barrier draw and the constant support for Black Caviar, has led Hay List to drift out by $0.50.
Michael Sullivan said that while Hay List claiming victory would be the desired result for bookmakers, it is clear the punters don’t believe that is a possibility.
“He looked to have Black Caviar in big trouble in the T.J. Smith and was dominant in the All Aged but punters simply can’t see him beating her,” Mr Sullivan said.
“No doubt there will be some money for him by Saturday but he would still be an enormous result for bookies if he can end Black Caviar’s unbeaten streak.”
Robert Heathcote’s Buffering is currently sitting in third favourite in the 2011 BTC Cup betting, paying odds of $26 after opening at $21 at Luxbet.
Buffering sped to victory last start in the Group 2 Victory Stakes at Eagle Farm, demonstrating he is a worthy competitor to take on Black Caviar.
Melito has drifted out to odds of $32 after originally opening at $21 at Luxbet, finding no support from the Black Caviar-loving punters.
No Evidence Needed is currently the least fancied of the entire 2011 BTC Cup field, paying long odds of $301 to win the race after opening at $201 at Luxbet.
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2011 BTC Cup Field
|1||0X3800280X||SNIPER’S BULLET||Tracey Bartley||Chris Munce||5||58.5kg|
|2||1X4568009X||BLACK PIRANHA||Con Karakatsanis||Matthew Palmer||3||58.5kg|
|3||X1116X2121||HAY LIST||John McNair||Glen Boss||6||58.5kg|
|4||3105X040X4||ALBERT THE FAT||Paul Messara||Damian Browne||1||58.5kg|
|5||3X122124X1||BUFFERING||Robert Heathcote||Larry Cassidy||7||57kg|
|6||1X111X1111||BLACK CAVIAR||Peter G Moody||Luke Nolen||4||56.5kg|
|7||1X55X15324||MELITO||Gerald Ryan||Glen Colless||2||56.5kg|
|8||412256X365||NO EVIDENCE NEEDED||John P Thompson||Dwayne Dunn||8||56.5kg|