While the attention will be squarely on Melbourne's Flemington Racecourse come 3pm on Tuesday, Canberrans will have a quality day of racing on offer.
Thousands of punters are expected to flow through the gates at Thoroughbred Park for Melbourne Cup day.
Punters can expect a relatively cool and partly cloudy day on Tuesday, with a maximum of 20 degrees predicted.
Thoroughbred Park is hosting eight races with the first at 12:33pm and the last group taking to the track at 6pm.
Canberra racing has been enjoying a purple patch of late with two notable wins in elite events.
The Keith Dryden trained Handle the Truth recently took out the $1.3 million Kosciuszko race and Noble Boy, trained by Queanbeyan Todd Blowes, stormed home to take the Country Championships.
Mr Dryden has three horses racing on Tuesday, including Balonne in the 1300-metre main event Federal Handicap.
He said it was always exciting to be part of the biggest day of racing in Australia, with the most race days hosted on one day all year.
"Canberra is a very strong racing area and the prize money is good," Mr Dryden said.
"We get support from the ACT government which is a great help.
"It's not easy to win here."
The Federal offers a $40,000 prize to the winner and Mr Dryden thought Balonne was a strong chance each way, as was his other horse Gunga Din over 1600 metres.
Those two, plus his horse Waiheke will be jockeyed by Blaike McDougall.
In addition to the action on the turf, Thoroughbred Park will have the traditional fashions on the field with a prize pool of more than $14,000.
Accompanying the sparkling bar and the craft beer bar will be plenty of food trucks, including Sonoma Bakery, the Spit Shack and the Italian Traveller.
Mr Dryden encouraged Canberrans to get out and enjoy the colour and sport of the races.
"The horses [in Canberra] are well presented and well looked after," Mr Dryden said.
"There will be plenty of social followers out for a good time and to tune into the race that stops the nation."
As for his pick in the big race, Mr Dryden said he saw "a bit of value" in the Chris Waller trained Youngstar, jockeyed by Tommy Berry.
The traditional Melbourne Cup parade was derailed somewhat by anti-horse racing protesters.
One protester in Melbourne called out names of dead race horses through a microphone while others yelled chants including "animal abusers, total losers" and "say nup to the Cup".
Horse racing is facing significant opposition after reports of mistreatment of race horses were uncovered by an ABC investigation.
There is free public transport on all networks when heading to and from the races and there is a free bus to the official after party at The Duxton in O'Conner.
ACT Policing superintendent Corey Heldon said police were hoping for a repeat of last year's generally good behaviour on Melbourne Cup Day.
"We know many people in Canberra want to have fun on Melbourne Cup Day, and we want them to enjoy themselves safely," superintendent Heldon said.
"We are not the fun police. All we ask is that if you drink, then drink responsibly."
Police will have a high-visibility at the races and licensed premises around Canberra targeting anti-social behaviour.
"There will be police in many locations across Canberra conducting both targeted and random breath tests on drivers, so don't gamble with your safety after the races," superintendent Heldon said.
"If you take the risk of driving under the influence, you will get caught."
"With a little forethought, everyone can come out in front in the safety stakes. Plan ahead. If you're going to drink, then don't drive."