Australians still betting big on Melbourne Cup, despite many saying they’re losing interest in race

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But money spent betting on horse racing overall has sharply declined amid cost-of-living pressures and regulation

Australians say they are losing interest in the Melbourne Cup and the animal welfare campaign against it has never wavered, but the amount of money gambled on the race has barely changed since the pandemic.

Wagering turnover on the Melbourne Cup has fallen only slightly from the $221m recorded in 2020 to $214m last year. The five-year average spend, according to Racing Victoria figures, remains $220m.

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