There is only a little over two months to go before the world’s richest handicap lights up Victoria’s Flemington Racecourse on the first Tuesday of November and below the Races.com.au team take a look at the latest 2012 Melbourne Cup odds to see what horses are dominating the pre-nomination markets for the ‘race that stops a nation’.

Caulfiled Cup favourite Green Moon is the shortest-priced Australian-trained horse in the 2012 Melbourne Cup odds

Over the past few weeks a number of races taking place on foreign lands have had a dramatic impact on the Melbourne Cup betting markets at the Aussie bookmakers.

Held on Tuesday November 6 the $6.2 million Group 1 Emirates Melbourne Cup (3200m) is once again shaping up as an international saturated affair with overseas trained horses occupying the first seven lines of betting.

Current favourite at a quote of $15 is Mount Athos, Luca Cumani’s English galloper having won their past three consecutive races at home putting them right in the Melbourne Cup frame.

At their most recent run on August 18 the Montjeu five-year-old put an easy three and a half lengths on their rivals in the Group 3 Geoffrey Freer Stakes (2670m) at Newbury which qualified them for the Melbourne Cup 2012 and skyrocketed them to the top of the Melbourne Cup betting markets.

Cumani has been attempting to win the Melbourne Cup for many years, coming the closest with Purple Moon who was a half-length away second to Efficient back in 2007, and Bauer, who is currently fighting a life threatening bowel condition, who was a nose away second behind Viewed the following spring.

One of the most successful trainers in Great Britain Cumani has made recent comparisons between Mount Athos and Purple Moon crediting their progressive nature and awesome turn of foot.

The only other early Melbourne Cup hopeful under $20 is then Gatewood.

While bred and prepared overseas the John Gosden-trained Galileo stallion from England is actually half-owned by Australian connections with the Terry Henderson-directed syndicate OTI recently securing a half share in the promising stayer.

A winner of four of their seven starts the lightly-raced five-year-old has plenty upside and passed the first ballot clause for the Melbourne Cup by running a credible third behind OTI’s fellow Melbourne Cup bound raider Quest For Peace in the Group 3 Glorious Stakes (2414m) at Goodwood at the start of August.

To be transferred to the care of Sydney trainer Chris Waller after the Melbourne Spring Racing Carnival, Gatewood was last seen running just a short neck away second to Masterstroke in the Group 2 Prix Deauville (2500m) in France on August 26.

There are then four horses that share third favouritism at $21 with:

• Americain (Alain de Royer Dupre) – Winner of the 2010 Melbourne Cup winner this French galloper also ran one of the best races last year to come from near last to fourth when unsuccessfully defending their title, couldn’t win during the autumn when under the care of David Hayes but has been sent back to Dupre, disappointing first-up sixth in the Prix Kergorlay over 3000m with 60kg but can improve
• Dunaden (Mikel Delzangles) – Defending Melbourne Cup winner recently had their return trip to Oz confirmed by connections who will attempt the Caulfield Cup – Melbourne Cup double with the seven-year-old
• Galileo’s Choice (Dermot K Weld) – Group 3 Ballyroan Stakes winner in Ireland also has hurdle experience over the two miles, likely to go to the Irish St Leger next before a possible trip down under
• Red Cadeaux (Ed Dunlop) – Was a $30 roughie in last year’s Melbourne Cup before going down to Dunaden in the closest Melbourne Cup result in the race’s history, have run top three in all six of their starts since

Other top fancies then include Saeed Bin Suroor’s Ascot Gold Cup winner Colour Vision, Cumani’s Glorious Stakes – March Stakes double winning four-year-old Quest For Peace, and the shortest-priced of the Australian-trained hopefuls with Green Moon who is also favourite for the 2012 Caulfield Cup and Anthony Freedman’s Doomben Cup champ Mawingo – all paying $26 to add their name to the Melbourne Cup winners’ list.

Melbourne Cup nominations close on September 4, 2012.

Don’t wait until then to back your favourites! Lock in the juiciest prices on your Melbourne Cup tips in the ante-post markets at bookmaker.com.au and bet with confidence knowing that if your horse isn’t nominated they will refund your bet in full.

2012 Melbourne Cup Odds

Flemington Race 7 – 06/11/2012

*Fixed Win Odds are Top 20 only and subject to change – see bookmaker.com.au for updates and to bet now