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So what time is this year's race? How can you watch it? Who are the favourites?
Here's your quick guide to the 163rd running of the Melbourne Cup.
What time does the Melbourne Cup start?
The Melbourne Cup is race seven on the program, scheduled for 3pm AEDT — that's Melbourne time, and also for those in New South Wales, ACT and Tasmania.
If you're in Queensland, the race will start at 2pm AEST, or in South Australia, at 2:30pm ACDT. In the Northern Territory, it will be 1:30pm ACST, and in Western Australia it will be 12pm AWST.
You can follow all the action throughout the day on our live blog.
How can I watch it?
The race will be broadcast on Channel Ten, which has the rights to this year's Melbourne Cup Carnival.
Their live broadcast will start at 10am AEDT and run until 5:30pm AEDT after the last race of the day.
Racing.com (digital Channel 78) also is able to broadcast the Cup live. Foxtel's Sky Racing is unable to carry the race live but will have it on delay, a few minutes after the event.
The race will also be streamed on 10Play. Kayo Sports will also carry the Racing.com coverage.
Where can I listen to the Cup?
A top horse racing over hurdles, Vauban made headlines on the flat in June when he blitzed a field at Royal Ascot (over 2,816m) by seven and a half lengths, before qualifying for the Cup field with a win in the Ballyroan Stakes at Naas in Ireland.
The big race will be carried live on a number of radio networks — ABC local radio, the Racing and Sports Network, SEN Radio, Nine Radio, plus Triple M in Sydney, Melbourne, Brisbane and Adelaide.
Who are the favourites?
A jockey rises a racehorse to victory, with the rest of the field in the distance well behind him.
Form watchers took notice when Vauban smashed the field at Royal Ascot in June — now the Willie Mullins-trained galloper is the Melbourne Cup favourite.(Getty Images: Alex Pantling)
As often happens in recent times, the hot favourite for this year's Melbourne Cup is one of the internationals — Vauban, trained in Ireland by Willie Mullins.sdfdfdf