Online bookmaker Sportsbet thinks every other horse is fighting for second place in the 2010 Melbourne Cup at Flemington today, and has pledged to refund all win bets placed today up to $100 if your horse is beaten into second by the raging red-hot favourite So You Think.

“As a racing lover, So You Think is just breathtaking to watch, but from a business perspective he is bookmaker’s enemy number one,” said Sportsbet’s Haydn Lane.

“Everyone is trying to find a chink in his armour, but he appears bulletproof.

“We think he’s just about unbeatable, and by the way punters have backed him since the Mackinnon it appears we’re all in agreeance.”

The Second to So You Think Refund Offer follows on from Sportsbet paying out more than $250,000 in bets on the champ for the Cox Plate a full five days before the race.

So You Think ($3.50 into $3) continues to be the punter’s pal, attracting more than half of all win bets for the Cup placed since Saturday’s barrier draw, including a bet of $100,000 on Monday evening at the odds of $3.10.

Of his challengers, last year’s winner Shocking ($9 out to $12) has been friendless after drawing barrier 24 which will see him start alongside the revellers in the rails car park, while Zipping ($41 into $21) has been well supported including one bet of $10,000 each way at $41 for a potential $500,000-plus pay day.

2010 Melbourne Cup Odds Fluctuations

Price fluctuations with [sportsbet] since 9am AEDT Monday 1 November 2010

$3        So You Think (in from $3.50)

$7.50   Mayluckyday (in from $9)

$12      Shocking (out from $9), Americain

$15      Descarado (out from $13)

$21      Linton (out from $17), Precedence (out from $17), Manighar (out from $19), Holberg (out from $19), Zipping (in from $41)

$26      Once Were Wild

$31      Harris Tweed (out from $26), Shoot Out (in from $41), Monaco Consul, Profound Beauty

$41      Mr Medici (in from $61)

$51      Campanologist (out from $41), Illustrious Blue (in from $61)

$61      Bauer (in from $81)

$101    Tokai Trick (out from $81)

$121    Zavite (in from $151)

$151    Master O’Reilly (in from $301)

$301    Buccellati (out from $201), Red Ruler

For full details on Melbourne Cup betting specials visit [sportsbet] now!