KEY POINTS:
Today is Melbourne Cup day. Here is our easy guide to one of the biggest events in world horse racing.
WHAT IS THE FUSS ALL ABOUT?
The Melbourne Cup is Australia's major annual thoroughbred horse race. Billed as "The race that stops a nation", it is
for three-year-olds and over, and covers a distance of 3200 metres. The event is run by the Victoria Racing Club, on the Flemington Racecourse in Melbourne. It is generally regarded as the most prestigious two-mile handicap race in the world.
WHEN IS IT ON?
The event is always held on the first Tuesday in November. It starts at 5.00pm (NZT).
HOW DID IT ALL START?
Seventeen horses contested the first Melbourne Cup in 1861, racing for a gold watch and 170 pounds cash. The winner was a horse called Archer, who went on to win again the following year.
There was a bit of competition for public attention at that first ever meeting - news of the death of famed explorers Burke and Wills reportedly reached Melbourne on that very day in 1861!
HOW HAVE FOREIGNERS GONE?
Well, New Zealand-bred horses have (naturally) virtually owned the Cup ever since the legendary Phar Lap started the trend in 1930.
And who can forget Kiwi's majestic finish to storm home in 1983? It brought a tear to the eye of most New Zealanders watching, glued to their tv screens.
Entrants from further afield, however, have not been so flushed with success.
Most have failed to cope with the conditions, with only Irish trainer Dermott Weld successful in 1993 with Vintage Crop and 2002 with Media Puzzle.
ANY SPOILS FOR THE FAIRER SEX?
The 2001 the Melbourne Cup was won by New Zealand mare Ethereal, trained by Sheila Laxon, the first woman to formally train a Melbourne Cup winner. She also won the Caulfield Cup, a 2400 metre race also held in Melbourne, and therefore has won the "Cups Double".
WHO IS MAKYBE DIVA
Last year Makybe Diva made history by becoming the only horse to win the race three times. Trainer Lee Freedman told reporters after the race that this feat is unlikely to be repeated in our lifetimes.
SO WHAT DO THEY WIN?
The trophy is a gold cup valued at $75,000. The winning trainer and jockey also receive a miniature replica of the cup and the strapper is awarded the Tommy Woodcock Trophy, named after the strapper of the incomparable Phar Lap.
The total prize money awarded to the field in 2005 was 5.1 million Australian dollars.
SO MELBOURNIANS REALLY MAKE A DAY OF IT?
Do they what! Of course, it's not just a matter of being there, but what you're wearing while you're there.
'Fashions On The Field' is a major focus of the day, with substantial prizes awarded for the best-dressed male and female racegoers. The requirement for elegant hats almost single-handedly keeps Melbourne's milliners in business.
Raceday fashion has occasionally drawn almost as much attention as the race itself.
In the Melbourne metropolitan area, the race day is a public holiday, but around the country a majority of people watch the race on television and gamble, either through direct betting or participating in workplace cup "sweeps".
HOW ABOUT A LITTLE FLUTTER?
In 2000 it was estimated that 80 per cent of the adult Australian population placed a bet on the race that year.
We spend about $13 million on the New Zealand TAB, on that single race alone.
HOW'S ITS POPULARITY RATE AS A SPORTING EVENT?
High. Over 110,000 people, some dressed in traditional formal raceday wear and others in all manner of exotic and amusing costumes, will attend the race at Flemington this afternoon.
This compares with crowd figures:
30,200 - Bathurst V8s
97,400 - AFL Grand Final
42,100 - opening day of an Ashes cricket test
TV COVERAGE?
TV3 shows the build-up then the big race itself, from 4.30pm.