Microsoft's Bing has crunched the numbers -- this is the horse it thinks will win the Melbourne Cup

Winner, winner, chicken dinner. Photo: Mark Metcalfe/ Getty.

As Australia gears up for the fashions on the field and the big one, the Melbourne Cup, picking the right horse to bet on is at the front of everyone’s minds.

There are many ways people decide on which horse to bet on. A quirky name, a famous trainer, or a blind pick. Some methods have better odds than others.

Today Business Insider has made it a numbers game, creating a statistical guide, as well as asking the Macquarie and Credit Suisse quant teams for their tips.

In another statistic set up, Bing Predicts has also come up with a way of picking a winner.

Combining the age, health and weight of participating horses with historical statistics of the trainer’s past performances, and the jockey’s efficiency and factors, the system has produced a score sheet for how it expects the race to be run.

It will also account for track conditions on the day, which will be matched with horse’s preferences based on previous races, as well as web activities and social updates to capture real-time information such as injuries, controversies and other changes that affect the race.

The intelligent prediction tools recently provided predictions for the AFL and the Rugby World Cup, where it was 76% and 87% accurate respectively.

And here’s what it predicts for the Melbourne Cup:

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.