PUNTERS are expected to bet a record $800 million on the Melbourne Cup today.
Last year, the betting total came in just under $800 million, however bookmakers are predicting that figure to be smashed this year due to a number of international runners in the race.
Japanese raider Admire Rakti is the predicted front-runner and Ninemsn reports two punters have already placed $50,000 bets on the horse to win.
ARTICLE CONTINUES AFTER THIS ADVERTISEMENT
22 horses are expected to take to the track at 2pm, with Cavalryman scratched early this morning and Sea Moon dumped from the race yesterday.
The stands at Flemington (pictured below earlier on today) are expected to be packed by race time.
Some will watch from air conditioned comfort, with the temperature outside expected to hit 29 degrees.