The 2010 Melbourne Cup betting markets are really begin to heat up with less than two months to go before Australia’s showcase race lights up the Flemington track on Tuesday November 2.

As the Sydney and Melbourne Spring Racing Carnivals progress, many of the horses heading towards a run in the 150^th Melbourne Cup Field are enjoying early success on the track causing their odds to shorten in the Melbourne Cup markets open at Australia’s premier online bookmaker [sportsbet].

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Over the weekend the Mark Kavanagh-trained Shocking had his odds trimmed to $8 by [sportsbet] following the reigning Melbourne Cup champion’s impressive win in the Group 2 Makybe Diva Stakes (1600m) at Flemington.

The son of Street Cry is now the pronounced favourite to join an exclusive five-horse club of turf stars that have won back-to-back Melbourne Cups.

The change to the Melbourne Cup Odds has seen Bart Cummings’ classy mare Dariana drift out to $15 at [sportsbet], the Queensland Derby winner no longer the punter’s favourite.

Dariana is Cummings’ best chance of securing his record 13^th Melbourne Cup trophy.

Another big mover in the Melbourne Cup markets is the Peter Moody-trained Mr Charlie.

The Kiwi bred five-year-old won the New Zealand St Leger (2500m) back in March and enjoyed a terrific first-up Australian start on Saturday winning the Spring is the Season Handicap (1700m) also at Flemington.

Mr Charlie, who opened at $26 in the first 2010 Melbourne Cup betting markets, has now moved up to equal third favourite at $17 through [sportsbet].

Other $17 chances for the Cup include 2010 Cox Plate favourite So You Think and fellow stablemate from Bart Cummings’ stables Precedence, and in-form Warrnambool-trained gelding Moudre.

On the next line of betting is yet another from Australia’s favourite and most prolific Cups trainer Cummings Faint Perfume and the leading international contender Sans Frontieres at $21.

Following the release of the Melbourne Cup weights last week, the first declarations for the $6 million Melbourne Cup are out tomorrow, September 7, which will narrow down the list of horses still in contention for the famous handicap.

With less gallopers vying for a spot in the Melbourne Cup 24-horse final field, which will be released at Victoria Derby Day on October 30, the Melbourne Cup odds on the remaining horses will also change so make sure you check out the markets at [sportsbet].

There are plenty of chances to win big through your Melbourne Cup Betting this November and not just in through the Win and Each Way wagers.

Why not try some of the exotic options and exciting betting doubles available through [sportsbet] this Melbourne Cup?

One of the most popular betting doubles every year is the Caulfield Cup – Melbourne Cup double.

There are also the trifecta bets that allow you to lock in your top three Melbourne Cup favourites.

Punters have won massive amounts off Melbourne Cup trifectas over the years, including one very lucky fellow back in 2003.

The punter put 20 x $6 trifectas on what turned out to be the winning trio for that year – Makybe Diva, She’s Archie and Jardine’s Lookout.

But the operator processing his bet incorrectly entered his trifecta bet 203 times, not 20, and the punter won $2.6 million that was paid out to him in full!

Be the next punter to win big on the Melbourne Cup by signing up to [sportsbet] today and enjoy a free $100 bet as a new customer to get you started.