The punters have caught the whiff of an upset ahead of Saturday’s 2023 Caulfield Guineas with in-form youngster Wolfy the early market mover despite being unraced in stakes grade.

Wolfy is a surprise 2023 Caulfield Guineas betting market mover for Saturday’s $3 million showdown in Melbourne. Photo: Ultimate Racing Photos.

A field of gun young milers face off in the Group 1 $3 million Neds Caulfield Guineas (1600m) in Melbourne this weekend with markets led by Chris Waller’s fast-finishing Golden Rose winner out of Sydney Militarize.

The three-time Group 1 winning Dundeel colt drew out wide in gate 12 for Brazilian hoop Joao Moreira who produced a thrilling ride last time out to get Militarize home in the Golden Rose out of nowhere.

The favourite has eased out slightly in the latest Caulfield Guineas betting markets to $2.90 through Ladbrokes.com.au.

There has been something of a surprise move for a horse lower down the ratings with Wolfy heavily backed from $21 into $13 to score an upset win in his first Group race assignment.

Blake Shinn partners the in-form galloper from one inside the favourite with the Nick Ryan-trained Wolfy jumping from gate 11 chasing his third win on the trot.

The nicely-bred son of Tivaci has won two of his five starts to date with the wins coming back-to-back in his latest two runs in Victoria.

He broke his maiden status at Sale on September 10 over 1400m before carrying 59.5kg to a half-length win over the same distance at Flemington a fortnight later.

Wolfy has been kept fresh since ahead of his acid test on Saturday up to a mile against a field that includes a number of proven Group 1 three-year-olds.

This is obviously going to be tough but he has been making up ground and carries less weight so there is a chance, and the markets reflect that now.

The undefeated Steparty is the danger looking for his sixth turf triumph and the Artie Schiller colt still occupies the second line of Caulfield Guineas betting out from $3.50 to $3.90.

It is a big field but there is still only one other single-figure chance with the Ciaron Maher & David Eustace-trained Group 1 JJ Atkins winner from the winter King Colorado easing at $9.

There has been a tickle for his stablemate Griff now into $21 with Ben Melham aboard the Trapeze Artist colt from the outside barrier.

Griff has been good this prep winning the Listed Exford Plate (1400m) and then the Group 2 Stutt Stakes (1600m) at The Valley so could represent potential value here at the same distance.

The 2023 Neds Caulfield Guineas runs as Race 9 at 5:10pm (AEDT) on Saturday with full markets from Ladbrokes.com.au available by clicking here.