Niwot backed to win $1m in Melbourne Cup 2011

Niwot continues to be the subject of a monstrous Melbourne Cup plunge with one Sportingbet Australia punter backing the Hawkes trained galloper to win over $1 million dollars this morning.

Sportingbet Australia CEO Michael Sullivan said it was one of the biggest Cup plunges he’d seen in recent years.

“There had already been a stack of hard money on Niwot and which had seen him shorten from $21 to $15 since Saturday,” said Sullivan.

“We then took a bet of $80,000 at $15 and he is now into $12 in what is as sustained a Melbourne Cup plunge as I have ever seen.

“We turn the price off and punters don’t care, they just keep coming for him.

“It’s been a very big go and he’s every chance of starting under double figure odds.”

Sullivan said Cup favourite Americain had eased from $4.40 to $5 as a result of the backing for Niwot.

“While Americain was heavily backed in all in markets we haven’t seen a cent since the field was finalized,” Sullivan said.

“He’s on the drift and could get out further if early betting is any indication.”

2011 MELBOURNE CUP

Sportingbet Australia Market

Americain 5.00

Dunaden 8.00

Jukebox Jury 12.00

Lucas Cranach 12.00

Niwot 12.00

At First Sight 15.00

Illo 15.00

Morayan 16.00

Modun 21.00

Tullamore 21.00

Moyenne Corniche 26.00

Fox Hunt 31.00

Red Cadeaux 31.00

Lost In The Moment 31.00

Drunken Sailor 35.00

Glass Harmonium 35.00

Unusual Suspect 35.00

Precedence 35.00

Manighar 41.00

Shamrocker 51.00

Hawk Island 101.00

Saptapadi 101.00

The Verminator 126.00

Older Than Time 151.00

31 Oct 2011


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