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The Melbourne Cup is Australia's major Thoroughbred horse race, it is a race for three-year-olds and over, over a distance of 3,200 metres.

It is the richest "two-mile" handicap in the world.

The event is held by the Victoria Racing Club on the first Tuesday in November annually, at the Flemington Racecourse in Melbourne and is a Group 1 race.

Former champion mare Makybe Diva won the Melbourne Cup three years in succession 2003, 2004 and 2005 and is the only thoroughbred to achieve that honour in the long history of the great race. The Group 2 Makybe Diva Stakes is named in the brilliant mare's honour.

The Melbourne Cup also combines with the Caulfield Cup to form the major Cup's double of the Spring.

Betting markets are announced a few months in advance before both Cups are run and huge money is outlayed trying to back the winner of both races to score a big multiple double result. AFL Free Footy Bets from the Bookies

Melbourne Cup Field

The Melbourne Cup field is now restricted to 24 horses with no emergencies, but the race receives many more nominations in the lead up to the event. The final Melbourne Cup field for each year is released on the Saturday evening before the race, and punters wait impatiently for this information each year as it allows them to lock in their final bets.

The horses that make up the Melbourne Cup field are decided based on a few different conditions, and lesser horses are balloted out based on prize money earned in the last two years, performance in specific lead up races, and handicap weight.

Melbourne Cup History

The first Melbourne Cup was run in 1861 and won by Archer and now has become a global event since 1993 with a number of international horses from a variety of countries making the trip to Australia to win the big race.

It's a day when the nation stops whatever it's doing to listen to the race call, or watch the race on TV. Even those who don't usually bet, try their luck with a small wager or entry into a 'sweep' - a lottery in which each ticket-holder is matched with a randomly drawn horse. More Free Bonuses and Bookie Bets here

Since 1877, Melbourne Cup Day has been a public holiday for Melbourne, and crowds have flocked to the track. By 11.00 am on the first holiday, the Flemington grandstand was packed to its 7,000 capacity, and by 3.00 pm, 150,000 people were estimated to have gathered - thronging the hill beyond. The party atmosphere often means that champagne and canapés, huge hats and racetrack fashions overshadow the business of horse racing.

Even through wars and depression, the Melbourne Cup racing carnival has been one of the stayers of Australian cultural experience. Australia is one of the few countries where bookmakers are allowed to operate on course offering starting prizes (SP). This was legalised in 1882 and 1896 in an attempt to stamp out off-course SP 'bookies' who paid out on prices being quoted on the racecourse. Before the telephone, on-course prices were signalled with flags.

This legislation did not stop SP bookmaking off-course. It is said that every second Australian household in the 1880s and early 1900s, on every Saturday afternoon, the average punter went to a local pub, corner grocer, barber or milkman and placed a bet with their SP bookie. From 1916, the bookies competed against a 'totaliser' machine, known as the 'tote', invented by George Julius, an engineer working in Western Australia. The machine calculated changing odds and the paying of dividends to winning punters. As the world's first automatic totalisator, Julius's company designed and supplied racecourse betting equipment throughout the world.

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