It's the day before the Melbourne Cup, a time when workers around Victoria simultaneously get sick and thousands of us make out annual donation to the TAB.

When picking a winner, it can be easy to have the blinkers on and only consider the favourites. While Americain, Jukebox Jury, and Dunaden are enticing prospects, there are plenty of horses who inspire confidence with far juicier odds. The following horses are the ones I feel are the best value bets from the middle of the pack:

9 - Lucas Cranach

Five-year-old sired by one-time Melbourne Cup favourite Mamool, with a 50% win record over his career. He ran a good Caulfield Cup despite some slight injury troubles, storming from 16th to fifth over the final 800m. By all reports the distance shouldn't trouble him.

14 - Illo

Has placed in 11 of his 14 career runs. Was overrun in the Gold Cup but that was his first start after a spell and, at the risk of sounding clichéd, will be better for that run. His record on dead tracks is encouraging, as is the knowledge that Bart Cummings is his trainer.

16 - Modun

Godolphin don't just take on any horse, they want one that can win this race. Has a good ability to time his runs and has a proven jockey in Kerrin McEvoy. His relative inexperience - he's only started eight times - is a worry, but his staying power was demonstrated in the Ebor Handicap.

18 - Moyenne Corniche

Seven-year-old from the UK with good form over long distances, particularly in his last two starts. Won the Ebor Handicap, often considered a good yardstick for Melbourne Cup form. By all accounts, the track Flemington will suit him well. Probably not the best win bet but definitely in calculations for a place.

22 - Tullamore

There are a lot of positive indicators about this one: a Caulfield Cup placing, a master trained (Gai Waterhouse), a solid dead-track record, a proven jockey (Cup winner Chris Munce) and multiple wins at 2400m. He ran second to current favourite Americain last start, but finished strongly and is good value at surprisingly long odds ($26 at last check).

23 - Niwot

Seven-year-old with a proven record at Flemington, on dead tracks, and over 3200m. Didn't have the best Caulfield Cup, finishing 12th, but after his convincing win in the Lexus Stakes, the punters seem to be happy to overlook that.

Good luck if you're having a flutter. Bet responsibly.