It may be only be a public holiday in Victoria's capital city, but the entire country will be glued to a TV screen for three minutes at 3pm today to watch the spectacle that is the Melbourne Cup. Set for a cracking Spring day of 29 degrees, Melbourne will come alive with excited racegoers putting on their best trackside outfits - not to mention the stylish women with their obligatory fascinators - before they head out to Flemington race course.It's the one day of the year where almost 14 million Australians, will decide to throw caution to the wind and spend $40million on the big race.
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The entire country will be glued to a TV screen for three minutes at 3pm
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Richest and most prestigious ‘two-mile’ handicap in the world
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runs over a distance of 3,200 metres at Flemington race course
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Attracts some of the best horses in the world - all vying for a chance to claim some of the $6.2 million prize money that is on offer.
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Three-quarters of workers spend 3.5 hours or more celebrating the Cup
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Almost 14 million Australians will spend $400 million betting on the Cup
Australians
Australians
The race also puts a drain on @placeholder' purse strings thanks to increase in people gambling, buying new outfits for Melbourne Cup functions and the jump in spending at pubs, clubs and restaurants around the country.
Melbourne Cup
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Cup
More than 48,000 visitors travelled to Victoria specifically for @placeholder, spending $25.6 million on accommodation.