The promotion will run on the Emirates 100th A380 Stakes (1000m) and the Tab.com.au Trophy (1700m), the first and second races on the card.
It will also run on the Melbourne Cup which is the seventh race on the day.
To be eligible for the offer you must use them on a fixed odds market and place them via one of Sportsbet.com.au’s digital offerings.
You are also unable to claim the offer if you are from NSW, South Australia and Western Australia.
But the rest of Australia and New Zealand can take part in the promotion.
NSW punters can take advantage of a similar offer where they can claim up to $26 in bonus bets back on the same races.
Remember as always Sportsbet will be making their boosted odds available on Cup day.
This promotion allows you to boost the odds of one of your win bets.
New Sportsbet customers can also claim a $501 deposit bonus upon sign up, which is matched at 100 per cent. Again this offer is not available to punters of some states.