The 2008 Melbourne Cup will be held tomorrow in Australia. The race has been run on the first Tuesday of November since 1861.

17 horses contested the first Cup in 1861 racing for a prize of a gold watch and 170 pounds cash.

This year the total prize-money is $5.5-million-Australian plus a Gold Cup worth $75,000.

24 horses to compete this year were confirmed yesterday.

The top bets for tomorrow's race are Septimus, Mad Rush, Zipping, Ice Chariot, Bauer and Profound Beauty.

Kingstone Rule who won the Melbourne Cup in 1990 holds the Cup race record of 3 minutes 16.3 seconds.