Local horses now the outsiders for Melbourne Cup (The Associated Press)
Australia’s richest horse race, the $6.2 million ($4.4 million) Melbourne Cup, retains as tight a grip as ever on the nation’s attention but Tuesday’s edition is expected to continue the recent trend of foreign raiders taking the famed three-handled trophy. Horses trained outside Australia or New Zealand have won three of the past five runnings of the two-mile race, and the Japan-trained stayer Fame Game is this year’s heavy favorite. The race has been an integral part of Australia’s social and sporting calendars since it was first held in 1861 and Australians collectively wagered around $A800 million ($570 million) – almost $A40 ($29) per head of population – on the event last year.