Sadly, it's also one of the hardest races to find a winner in. It drives regular punters wild with frustration - think back to Prince of Penzance winning in 2015 for Michelle Payne at triple-figure odds. But it's the nature of a handicap that makes the race such a lottery, and helps once-a-year punters believe they can find a winner. Whether it's colours, names, local horses, trainers, barriers, numbers, or formlines, there's many ways to skin a cat in the Melbourne Cup.

To make things easier, we've put together a list to help find that elusive winner.

British horses Thomas Hobson ($21) and Max Dynamite ($15) are both trained by Willie Mullins and both will carry pale pink silks with fluorescent green spots. You won't miss either horse in the run.

The famous royal blue colours of Godolphin will be represented by just one horse in 2017. Last year's third-placegetter Hartnell ($23) will be looking to go a couple of places better than last year.

If you follow the Lloyd Williams-owned horses - see below - you'll need to be focused on the jockey's caps. He's got a record six horses lining up and they're all wearing the navy blue silks with white arm bands. The only differentiating feature is their caps - white, navy blue, red, royal blue, gold and pink.

Max Dynamite is a cracker of a name. He just missed winning the Cup in 2015 when he ran half a length second. His last start was a win in Britain when he lugged 73kg around 3400m. He drops to 54kg on Tuesday and could feature at the end.

Australian punters may be drawn to Bondi Beach ($61) - but bet cautiously. He'll need to improve out of sight to feature at the end. He raced in last year's Cup and finished 13th.

The Caulfield Cup winner Boom Time ($26) is another good, strong name that could attract a few punters on race day. Sadly, the two best names in the Cup have been scratched over the weekend - Who Shot Thebarman and Jon Snow.

It's very rare that we can write about a Canberra horse lining up in the Cup - it's been more than a decade since we had anything to cheer for. But Nick Olive's Single Gaze ($41) presents as a better hope than her price suggests. She was enormous in the Caulfield Cup when finishing second and if she can stay the two miles she'll do what she does best and give an honest account of herself. She's worth an each-way bet.

If you've been sucked in by Winx-mania, you'll want to know what her trainer, Chris Waller, has in the Cup. Libran ($41) is his best chance to get his first winner in Australia's most famous race. He comes in to the race on the back of a second behind stablemate Who Shot Thebarman, who was scratched from the race on Sunday evening.

He might not be a trainer but there's no denying the Lloyd Williams influence in any Melbourne Cup. Together with his wife Suzie, Williams has won the race a record five times and if sheer weight of numbers count for anything he's a huge chance of winning it a sixth time in 2017. Williams has six horses - a quarter of the field - running on Tuesday, split between two trainers: Robert Hickmott and England's Joseph O'Brien. Perhaps his best hope is last year's winner Almandin ($8.50), but his other runners are: Johannes Vermeer ($10), Bondi Beach, US Army Ranger ($51), Gallante ($101) and Rekindling ($11).

The Cummings name made so famous by Bart and his 12 Melbourne Cups features again in 2017. His grandson James will saddle up the topweight Hartnell for the famous Godolphin stable. Hartnell has struggled this campaign but if he's fit and firing he could be fighting out the finish.

No horse has ever won from barrier 18 since they were introduced in 1924. So you can either put a line through Gallante or say it's due a win! Barrier 5 (Big Duke - $21) has been the most successful with eight wins, barrier 10 (Amelie's Star - $15) has been successful seven times, while the horse to start from gates 11 (Single Gaze), 14 (Almandin) and 17 (Cismontane - $51) has won the famous race six times.

If your favourite number is either four or 12, then you may be in luck. Both number 4 (Tiberian - $34) and 12 (Wicklow Brave - $51) saddle cloths have crossed the line first 11 times. The topweight (Hartnell) has been the next best successful with 10 wins.

As we said above, it's a lottery of a race and there's always a few surprises. There are 11 international runners in 2017, and the pick of them could well be Nakeeta, Marmelo and Thomas Hobson. Scotland's first runner in the Cup - Nakeeta ($34) - comes into the race after winning the Ebor. It's the same formlines that saw Heartbreak City finish second in last year's race. She drops 4kg on Tuesday and if she gets a good run in transit is a big hope.

Thomas Hobson was the last horse into the race after Jon Snow was scratched and he's a live chance, despite drawing gate 21. He blitzed them in the Ascot Stakes carrying 61kg and at his last outing finished second in the Doncaster Cup with 58.5kg. He's carrying just 52kg and has the "Magic Man" Joao Moreira on board.

He might not have won the race, but Marmelo ($8.50) definitely produced an eye-catcher in the Caulfield Cup and deserves to be one of the favourites. Prior to his first run in Australia, the British horse won the Prix Kergolay - a proven guide to the Cup. Protectionist won the double in 2014 and Americain was the first to win both in 2010.

While he's a German-bred horse, we will claim Almandin as a local - and he's probably the best hope we've got. He was sensational winning the JRA Trophy with 61kg before failing in the Bart Cummings. Expect him to bounce back in the Cup, and while he's up in the weights after last year's win, he can deliver another win for Lloyd Williams.

Sure, she's a local and there's a teeny, tiny bit of bias but Single Gaze presents a much better hope than her price suggests. She's drawn a wonderful gate (11) and with 53kg and a cosy run in transit she can again give a good account of herself.

Tip: Marmelo

What do you think? Who will win the race that stops the nation? Leave your tips in the comments below.

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