Kiwis shrug off recession and bet big

The world's financial crisis meant nothing this afternoon when New Zealanders bet close to a record amount on the Melbourne Cup.

This year's turnover on the New Zealand TAB was $7.6 million for the Melbourne Cup alone.

New Zealand Racing Board general manager of racing and wagering, Bill Colgan, said it was the third highest turnover on record.

The record turnover was posted in 2005 when $8.1 million was spent, followed by 2006 when New Zealanders laid out $7.9m.

Turnover this year was up nearly 10 per cent on last year, which had suffered a negative impact due to an outbreak of equine influenza in Australia, h e said.

The 2008 Melbourne Cup was won by the Bart Cummings-trained Viewed paying $46.50 with the English horse Bauer second and the New Zealand-bred C'est La Guerre third.

It was the 12th Melbourne Cup victory for Australian trainer Bart Cummings.

For those lucky enough to pick the first three in order the trifecta was worth $28,994.90 for a $1 bet.

The best of the New Zealand-trained horses was Nom du Jeu, which finished eighth.

The other New Zealand-trained horses in the race Boundless and Prize Lady finished 15th and 17th respectively.

"There was a real international flavour to the result with an Australian-trained horse finishing first, an English-trained horse finishing second and two New Zealand-bred horses finishing third and fourth," Colgan said.

"There has been talk of a recession in New Zealand but we are seeing no signs of it affecting New Zealanders' excitement in getting behind the biggest racing event in Australasia."

- NZPA