The Melbourne Cup is Australia's most significant and popular horse racing event held annually in November. It is considered to be so significant it is observed as a public holiday for those living in the Melbourne area. The race is open to horses over the age of 3 and is run over a distance of 3.2 km. 24 horses take part in the race each year, a number which is whittled down from the initial glut of between 300 to 400 applicants.

The winner of the Melbourne Cup takes home 3.3 million Australian dollars, with a total of 5.5 million available for the race. The crowds who visit the race are always vast, but back in 2003 a record 122,736 people attended, with millions more watching around the globe.

This year the competition is going to be fierce. 2008 saw the 12th victory for legendary trainer Bart Cummings with his horse Viewed. Viewed is racing again this year and odds of 7/1 are available which puts this well trained horse near the top of the favourites list. Cummings began his Melbourne Cup winning run back in 1965 and Viewed is the 11th horse that he has taken to victory. This year it could be only the second with which he has won the event twice. The horse Efficient is currently favourite to win with odds of 5/1. There are six horses with odds of 200/1 and over the history of the Melbourne Cup at least 3 horses with odds of 100/1 have won, so anything is possible.

In the past, 34 favourites have gone on to win the Melbourne cup and with a diverse range of horses and riders taking place 2009 should prove to be just as exciting as previous years.