There’s no greater reminder that we're into November already than the arrival of Melbourne Cup day.

It's billed as the race that stops the nation of Australia, but many Kiwis are also keen to jump into the spring racing spirit with a flutter or a crack at the work sweepstake.

Twelve months ago, Kiwis smashed their own betting records with the New Zealand TAB taking more than $28 million in turnover on Melbourne Cup day – the highest recorded in the 73-year history of the NZ TAB.

First run in 1861, the tradition of the Cup is still going strong.

So as you mull over your one-in-23 chance of winning the work sweepstake or who to back, we’ve got the answers to all of your critical questions for Tuesday's big race.

Who are the favourites?

Vauban (No 5). Trained by veteran Irish mentor Willie Mullins, Vauban is this year’s favourite. The six-year-old gelding sired by Galiway opened at $3.50 but on Monday had drifted out to $4.20 despite getting a near-perfect draw of barrier three. Proven over the 3200m journey, Vauban – like Max Dynamite who twice placed in the Melbourne Cup for Mullins – has also raced over the hurdles in Ireland. Second favourite is the Sam and Anthony Freedman trained Without A Fight (No 3) who jumps from barrier 16 carrying 56.5kg. The Caulfield Cup winner finished 13th in last year’s Melbourne Cup. He opened at $7.50 but shortened to $6. Last year’s winner Gold Trip (No 1) is the third favourite, drifting out to $6.50 from his opening price of $4.50. Kiwi jockey James McDonald takes the ride from barrier two but does carry the topweight of 58.5kg.

Will the favourite win and who are the others who could cause an upset?

It's rare for the favourite to win. Fiorente was the last to do it and that was back in 2013. He was the first since Makybe Diva won the third of her three Cups in 2005. When Gold Trip won last year he paid $19.40 for the win and $5.80 the place.

Given his proven staying ability with a former Melbourne Cup winning jockey in Englishman Ryan Moore on-board at 55kg, Vauban could well be the horse to break the favourites’ drought. He has impressed in his work at Flemington. The Freedman family, who have won five Melbourne Cups, including three with Makybe Diva, are oozing confidence around Without A Fight and Gold Trip’s co-trainer Ciaron Maher believes his charge is going better than when he won last year, but no horse has carried his weight of 58.5kg to victory in the Cup since Think Big notched his second successive win in 1975.

Who are the upset chances?

You could do worse than look at Vauban’s stablemate Absurde (No 7) who is paying $11 to win and Lastotchka (No 15). Lastotchka is a French mare who has been purchased by Australian Bloodstock – who won last year’s Cup with Gold Trip – and is now trained in Melbourne by Mick Price and Michael Kent Jnr. Lastotchka opened at $26 for the win but has now been crunched into $18.

Is there a Kiwi horse in the Cup?

No, the Allan Sharrock trained Ladies Man was right on the bubble of making the 24 runners to start the Cup, but after a disappointing run for sixth in the final leadup race, the Lexus Archer Stakes (2500m) on Saturday, he missed out in a cruel blow for his connections..

Any late scratchings?

Yes. No 10 Cleveland was scratched on Monday night on vet's advice. It’s been reported trainer Kris Lees reported Cleveland had a temperature spike. Also, the Mike Moroney trained Alenquer will undergo a vet inspection early on the morning of the race after picking up a stone bruise on Sunday.

What time does the Cup race start?

The Melbourne Cup jumps at 5pm (NZT) but it usually runs a couple of minutes late. For betting purposes, the meeting number is 7 and the Cup is race 7 at Flemington.

Kiwi jockey James McDonald seems to be winning everything at the moment, does he have a ride in the Melbourne Cup?

Yes, fresh from winning the Cox Plate aboard Romantic Warrior, McDonald is riding last year’s winner Gold Trip in the 2023 Melbourne Cup. It’s No 1 and the third favourite.

When was the last time a horse won back-to-back Melbourne Cups?

No horse has won back-to-back since Makybe Diva won three straight between 2003-2005.

Are there any other Kiwi jockeys in the race?

Yes, former Mid-Canterbury jockey, Daniel Stackhouse, now based in Victoria, rides Kiwi-bred Daqiansweet Junior which is number No 12 and Michael Dee, who moved to Victoria in January 2015, rides No 10 Cleveland. Daqiansweet Junior is paying $81 to win and if Dee was to secure the biggest win of his career it would come on a $31 shot. Mark Du Plessis began his career in Zimbabwe but spent almost two decades in New Zealand before shifting across the Tasman, and will be aboard No 16 Magical Lagoon ($126).

What are the other Kiwi connections?

Chris Waller, the ex-pat Kiwi trainer who hails from Foxton and was the man behind unbeaten wonder mare Winx, has three runners in the race. Soulcombe, No 6, appears to be the best of them at $10 from barrier four with one of the world’s best jockeys, João Moreira, taking the ride. More Felons, No 20, will be ridden by Jamie Kah as a $26 chance with Magical Lagoon (No 16) a massive outsider as a $151 chance.

Another former New Zealand trainer, Mike Moroney, has Alenquer (No 2) as a $41 shot in the race. Should Alenquer pass his vet check on Tuesday morning, he will be ridden by the soon-to-be-retired Australian sporting icon Damien Oliver who will be having his last Melbourne Cup ride.

Kalapour (No 23), who knocked Ladies Man out of the Cup with his win in the Lexus Archer Stakes, is owned by Kiwi businessman and prominent racing owner and breeder Lib Petanga, who was one of a group of owners who took over Wellington Phoenix football club in 2011.

How many people will be there?

Not so long ago, crowds above 100,000 were the norm but it’s dropped back a bit these days. Obviously, it’s weather dependent, but 73,816 punters went through the gates last year on a showery cold Melbourne day. Unfortunately, the Cup day forecast is for showers with possible thunderstorms. If a significant amount of rain does fall, it could change the fortunes of many runners.

How long is the race?

The Melbourne Cup is contested over 3200 metres (two miles). The 24 runners will run down the Flemington straight and then will have a lap to run when they reach the winning post.

How long will it take?

The Cup should be run and won in around three minutes and 20 seconds.

Where is Michael Walker?

The popular Kiwi jockey was forced into retirement in February of this year but had already been out of action for more than six months. Walker suffered a shocking fall at a jumpout trial meeting at Pakenham, on the outskirts of Melbourne in August 2022, that left him suffering from a brain injury. During his stellar career that saw him win 25 group I races and more than 2000 winners in total, the hugely talented Walker never won the Melbourne Cup but came extremely close with multiple placings aboard Prince Of Arran and Criterion.

How much does the winner get?

Prize money for the 2023 Melbourne Cup totals A$8 million (NZ$8.72m). The owners of Tuesday’s Cup winner will win a whopping A$4.4m (NZ$4.8m). The winning jockey will earn A$220,000 (NZ$240,000).

Who was the last Kiwi jockey to win the race?

James McDonald’s 2021 win aboard Verry Elleegant. Before that, it was Jimmy Cassidy, aboard Might and Power in 1997.

How many horses in the race were bred in New Zealand?

Two. Daqiansweet Junior No 12 pulled off a mighty run for sixth last year. The six-year-old Sweet Orange gelding, now trained by Phillip Stokes at Pakenham, Victoria, had his first eight starts in New Zealand when trained by Murray Baker and Andrew Forsman. He won two races on this side of the ditch and has picked up five more victories in Australia. Daqiansweet Junior, bred by Gillovic Bloodstock Ltd, is a massive outsider for this year’s Cup, paying $81 after not running up to the same form this season. However, he is a winner over the 3200m distance. Stackhouse will take the ride at 51.5kg from barrier 12.

Virtuous Circle, No 19 is an even bigger outsider as a $151 chance. The four-year-old Almanzor entire, was bred in New Zealand by Diane McDonald (James’ mother) and Rob Mulcaster but has done all of his racing in Australia. Lightly raced with just 13 starts for two wins, the Liam Howley-trained runner has never run past the 2520m distance. Virtuous Circle and jockey Craig Newitt will jump from barrier six.

-Stuff.