English stayer Mad Rush remains favourite for the Melbourne Cup which gets underway in the next hour, as champion jockey Damien Oliver chases his third win in the race.

Bookmakers have the Luca Cumani-trained gelding as favourite in a market dominated by international riders.

Septimus from the Adian O'Brien stable is at $6 ahead of $7.50 third favourite Profound Beauty, trained by dual Cup-winning Irish trainer Dermot Weld.

TAB punters have rallied behind 11-time Cup-winning trainer Bart Cummings and Victoria Derby-winning jockey Clare Lindop who combine with Moatize at $15.80.

However, bookmakers are offering Moatize at a more generous $31 which is also the price of Cummings' other runner, Viewer, who is $39.50 on the TAB.

Meanwhile, the manager of Grants Waterhouse Bijen Kumar said people still have one hour to bet on their favourite horses.