The Melbourne Cup has been touted a global spectacle as it has so far drawn the world's horse racing enthusiasts, trainers, and owners.

So far at the start of the race, the top race horses most favoured by punters include:

1. Dunaden

2. Americain

3. Mount Athos

4. Red Cadeaux

5. Lights of Heaven

6. Koonoomoo

Will it be another win by the prized horse Dunaden of Qatari royalty Sheikh Fahad bin Abdullah Al-Thani? Or will it be clinched by Americain, whose rider Damien Oliver had been embroiled in a betting scandal?

So far, as of 1PM (AEST), ABC's Live Blog reports that , Koonoomoo ran the 1,400 metres in 1.21.01 which is less than half a second outside the track record that has stood for almost 20 years.

In race three, Verdant smashed the track record for 2,800 metres.

Koonoomoo with rider Hugh Bowman cruised in for the lead of 200 metres.

Race and Royalty

As part of the six-day visit and the continuing Diamond Jubilee of the Queen, Royal couple, Prince Charles and Duchess Camilla, are set to grace the races and even take part in the awarding ceremonies.

ABC News reports that after their arrival at Longreach, Queensland, the couple inspected the Flemington racetrack ahead of the scheduled races today.

The Duchess of Cornwall will award the coveted Cup after the races, while the Prince award is set to extend the Diamond Jubilee Plate to the winner of the next event.

Celebrities including Nicole Kidman had been spotted at the track sides, though she knows the focus will be on the prize-winning, well-bred horses led by Dunaden, the horse owned by the Sheikh Fahad.

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