The Lloyd Williams-owned Fawkner has emerged from a Cup Eve betting frenzy as the best backed runner to win tomorrow’sMelbourne Cup.

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Punters have smashed Fawkner from $12 into $8 at Sportingbet.com.au since Saturday night and the bookie has taken multiple five-figure bets for Sportingbet Cox Plate runner-up to win tomorrow.

“The odds will be stacked against us having a Christmas party if Fawkner wins. He’s been by far the best backed runner and he’s a big loser for us,” Sportingbet’s Andrew Brown said.

Admire Rakti maintains favouritism but has drifted from $5 to $6 with Sportingbet, in front of Protectionist ($6.50 to $7.50), Fawkner ($8), Lucia Valentina ($7.50 to $8) and Signoff ($7.50 to $8).

“It’s a remarkable betting race and it’s shaping up as though the top five in the market will be separated by little more than a point.”

Sportingbet took a large number of BIG BETS on Cup eve including:

$30,000 on Signoff @ $8

$26,000 on Protectionist @ $7

$18,000 on Admire Rakti @ $6.50

$15,000 on Fawkner @ $9.50

$10,000 on Lucia Valentina @ $8

$10,000 on Admire Rakti @ $6

$6,600 on Willing Foe @ $31

“The support for Willing Foe has been educated money and he’s been the best backed roughie.”

2014 Melbourne Cup

Sportingbet.com.au odds (odds in brackets are from Sunday night)

Admire Rakti $6 (Was $5)

Protectionist $7.50 (was $6.50)

Lucia Valentina $8 (was $7.50)

Signoff $8 (was $7.50)

Fawkner $8 (was $10)

Mutual Regard $12 (was $13)

Red Cadeaux $21 (was $19)

Who Shot Thebarman $17 (was $21)

Junoob $26 (steady)

Cavalryman $26 (steady)

Araldo $21 (was $31)

Willing Foe $21 (was $31)

Au Revoir $71 (was $41)

Brambles $71 (was $41)

Lidari $71 (was $41)

Seismos $61 (was $51)

My Ambivalent $41 (was $51)

Opinion $61 (steady)

Royal Diamond $81 (was $61)

Gatewood $71 (steady)

Precedence $81 (was $91)

Mr OCeirin $201 (was $151)

Unchain My Heart $101 (was $151)