Will you be a winner or a loser this year? Whether or not you get lucky on Cup day there are ways you can make your future look better.

5 numbers to know about the Cup

1.  Aussies will spend about $140m betting on this year’s Melbourne Cup

2.  Peak attendance of 122,736 was in 2003

3.  Last year 101,015 turned up at Flemington Racecourse

4.  The initial entry fee for each horse is $600 but the final 24 starters will have had to race four times prior to the event and fork out more than $50,000 in total to get to the Melbourne Cup starting line

5.  Melbourne Cup prize money is $6.2m

It’s all fun on the day if you’re a punter, but Tommy Wu, IBISWorld senior industry analyst says franchised book-keeping outlets face challenges over the next five years with interest in horseracing waning.

What is sparking interest is online and mobile sports betting – the fastest growing segment in the betting industry. Online gambling has snared revenue from horserace betting at TAB retail outlets.

The strong competition from the online betting agencies is one of the factors that has also led to the recent proposed $11bn merger between Tabcorp and Tatts Group, which has however raised concerns with the Australian Competition and Consumer Commission.

The good news is there are plenty of ways to invest your hard earned savings – and winnings – with better odds.

Back yourself

You could back yourself instead and invest in a business opportunity. If you’ve got a burning desire to be your own boss and have a great idea for a winning business, go ahead and challenge yourself.

If you want to take a more cautious approach to your future and put your savings into an established business that has proven success, why not consider a franchise?

That way you can build on the knowledge and experience of a franchise team and add your own skills and strengths to make your future bigger and brighter.

Check out some of the opportunities available right now.