The annual Australian hats, wine and horse-fest is this afternoon.
The race itself is a few minutes long (at 5pm today), and let's face it, almost impossible to pick a winner in. But it's worth 6.8 million dollars, so people will always try. This year, one owner has six horses in the race. And for the second year in a row, there is no New Zealand horse.
Well, sort of. Australian scientists have "re-assembled" the Cup's greatest winner, the New Zealand horse Phar Lap.
But we all know it's the fashion that wins the day. Massive hats FTW.