Why is the Melbourne Cup important in Australian horse racing?

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The Melbourne Cup is widely recognized as the most important Thoroughbred horse race in Australia and stands as one of the most prestigious racing events globally.12

First held in 1861, the race is a significant cultural event in Melbourne, where the day of the race—the first Tuesday of November—is observed as a public holiday. Its status is bolstered by its international reach, as the event is televised worldwide.12

The race is a handicap competition open to horses three years of age and older, covering a distance of 1.99 miles (3,200 metres). Held at the Flemington Racecourse, it remains a cornerstone of the Australian sporting calendar.12