Melbourne Cup 2026: Field, Tips, Odds & Betting Guide

The Melbourne Cup is the race that has shaped Australian sporting culture more than any other. First run in 1861, it has grown into a national institution that stops the country every first Tuesday in November. The combination of a deep field, two mile endurance, high stakes and its place on the calendar make it a unique test of stamina, tactics and temperament. While fashions, crowds and prize money have evolved dramatically, the essence of the event remains unchanged: find the horse that can stay the trip better than the rest.

The Cup became truly international in the 1990s when northern hemisphere trainers began targeting it with purpose bred stayers. That shift changed the complexion of the great race, raising standards and introducing new layers of intrigue. The success of Vintage Crop in 1993 proved that international raiders could conquer Australia’s most treasured race, and it set off a wave of global participation that continues today.

Despite the international surge, local heroes still hold a powerful place in Cup folklore. Names like Makybe Diva, Bart Cummings, Damien Oliver and Michelle Payne resonate far beyond racing circles. Their stories live on through iconic rides, repeat victories and moments that stopped the nation in their tracks.

Today the Melbourne Cup serves as both a celebration of heritage and a statement of modern racing. It brings together the best stayers from around the world, mixes them with hardened local contenders, and asks one simple question: who can handle two miles at Flemington under pressure. The answer produces legends that endure forever.

Michelle Payne – First Woman to Win the Melbourne Cup

Michelle Payne’s 2015 triumph on Prince Of Penzance remains one of the most significant moments in Australian racing history. In winning the Melbourne Cup, she became the first woman jockey to claim the race in more than 150 runnings. It was a result that cut through the racing world and well beyond it, not only for the upset odds of 100 to 1, but for what it represented. Payne’s post-race message championing women in racing and backing her family’s role in the journey turned the win into a cultural moment that will be remembered as long as the Cup is run.

Jamie Kah – First Woman to Win the Caulfield Cup and Melbourne Cup

Jamie Kah’s rise has been nothing short of remarkable, and her achievements now sit alongside the most important milestones in the sport. She became the first woman to win the Caulfield Cup when partnering Without A Fight in 2023, a moment that cemented her as one of the elite riders in the world. Kah later added the Melbourne Cup to her record, becoming the first woman to complete the Caulfield Cup–Melbourne Cup set. Her style, composure and tactical feel have positioned her as a generational talent and a genuine barrier breaker in Australian racing.

WATCH: Jamie Kah win the 2025 Melbourne Cup aboard Half Yours:

Caulfield Cup – Melbourne Cup Double Winners (same year)

The Caulfield Cup–Melbourne Cup double is one of the toughest achievements in racing. Only a select group have completed it in the same year due to the difficulty of winning two gruelling staying features within a fortnight. Here are the horses to complete the double:

• Without A Fight (2023)
• Ethereal (2001)
• Doriemus (1995)
• Let’s Elope (1991)
• Gurner’s Lane (1982)
• Galilee (1966)
• Evening Peal (1956)
• Rising Fast (1954)
• Rivette (1939)
• The Trump (1937)
• Papparazzi (1935)
• Poseidon (1906)
• The Barb (1866)

Past winners: