In horse racing, a ballot decides which horses get a start when more accept for a race than its field limit allows. The race's conditions rank the acceptors in an order of elimination, and the horses at the bottom of that order are balloted out: they do not start in that race.
In NSW the Stewards can cap the field in any race (Local Rule 18), and every program's balloting conditions need Racing NSW's approval (LR 19). It matters to punters before final fields, when an early bet can ride on a horse that never starts; horse racing betting covers race day.
How a ballot orders the horses
Racing NSW's Balloting and Exemption Conditions, effective 1 September 2018, apply to any NSW race whose program sets no balloting conditions of its own. The order changes with the race type:
| Race type | Eliminated first | When horses are level |
|---|---|---|
| Benchmark race | The lowest benchmark rating, set at weight declaration | Separated by lot |
| Weight-for-age or set-weight race, not a maiden or restricted class race | The lowest average prize money per start over the last 10 starts | Career average, then lot |
| Set-weight maiden | Horses with 4 or more starts and no prize money, most starts first; unraced horses go last | By lot |
An indicative list comes out at weight declaration and can change at acceptances. With illustrative numbers, a benchmark race limited to 14 draws 16 acceptors, so the two lowest-rated horses are balloted out. If the 14th and 15th share a benchmark of 58, a lot decides which one keeps its start.
Balloted-out runners and all-in futures bets
Racing NSW's Rules of Betting define all in betting: if your horse does not start in a race, your money is forfeited (BR 1). Racing NSW's futures policy for NSW bookmakers (updated March 2011, checked October 2026) makes betting all in between the close of nominations and final acceptances, so a horse that is balloted out is a losing bet. An illustrative $15 all in at $41.00 is gone the moment the horse misses the cut. Online bookmakers set their own futures terms, and futures betting on horse racing works out the price needed to cover that risk.
Emergencies after the ballot
Horses just below the cut can be listed as emergencies, in an order the default conditions set. Under AR 58 of the Australian Rules of Racing, if the Stewards let a horse be scratched after the scratching deadline but before the final scratchings are released, they can let the next available emergency into the field. One that never gets in earns the same 21-day ballot exemption as a balloted-out horse, into a provincial or country race of the same type that is not a feature race at a feature meeting. The emergency runner entry covers bets on emergencies.
The Melbourne Cup ballot
The VRC's 2026 conditions cap the Cup at 24 starters with no emergencies. Winners of 11 nominated races, the Caulfield Cup and Cox Plate among them, skip the ballot. Other surplus acceptors go in the order the conditions set, which the VRC calls the order of entry, and the conditions say progressive lists are available from 15 September 2026.
Final declarations close at 4:30 pm AEDT on Saturday 31 October 2026. The conditions urge nominators to withdraw a horse as soon as they decide not to run, to cut non-refundable bets on non-starters. Melbourne Cup betting sets out each step of the order.
Comparing prices once the field is set
Once the final field is out, the Terminal shows prices from 40+ bookmakers across racing and sports, though not every bookmaker prices every race, so an early price you were offered can be set against the market.
Risk: Betting involves risk. An all-in bet on a horse near the cut can lose before the race is run, whatever price you took. See responsible gambling for limits and support.