Bodog Beat

Jockeys line up before the start of the Melbourne Cup at Flemington Racecourse in Melbourne, Australia last year. (AP Images)

One of Australia's most popular sporting events, the Melbourne Cup, is about to take way on November 5.

The legendary race is an official holiday in Australia and attracts the best of the best in the industry.

With over 110,000 spectators attending the races at Flemington Racecourse, and an average of 80% of Australia's population wagering from the track or at home, the event will make for an exciting day in horse racing.

Open to horses three years old and up, the Melbourne Cup is typically regarded as the most prestigious two-mile handicap in the world, with a current purse of over $5 million (AUD), as well as trophies valued at around $100,000 (AUD).

The race also offers a $500,000 (AUD) bonus to the owner for any horse that can win the Irish St Leger (Gr. I) and the Melbourne Cup in the one year.

This is the first time ever that Bodoglife.com will be offering odds on the Melbourne Cup, as well as day to day horse racing in Australia.

Come visit Bodog Racebook for all your Melbourne Cup odds and bets.