Wet trackers might as well stay in their stalls on Melbourne Cup day according to the weather forecast, with a fine day tipped for next Tuesday at Flemington.

Online bookmaker sportsbet.com.au is taking bets on the conditions and is offering $1.20 for no rain during the race that stops a nation, and $4.00 for the heavens to open at around 3.30pm.

Only twice has the Melbourne Cup been postponed due to bad weather, but punters need not fear this time around with Sportsbet deeming this year’s event a $101 chance not to be run on the first Tuesday of November.

No need to pack the winter woollies either with $1.87 available for the temperature to be over or under 28 degrees.

“The European stayers who are hoping for a slow or even heavy track will probably be disappointed. Looks like being a perfect day for the one hundred thousand plus spectators,” said sportsbet.com.au’s Christian Jantzen.

Markets courtesy of sportsbet.com.au:

Melbourne Cup Temperature

$1.87 Over 28.0 degrees celsius

$1.87 28.0 Degrees Celsius or under

To Rain during Race

$1.20 No

$4.00 Yes

Humidity Over/Under

$1.87 Over 35% Humidity

$1.87 Under 35% Humidity

$101 Melbourne Cup to not be run on November 4 due to weather