Melbourne Cup 2023: What time does the race start? How to watch ...

We're getting close to the first Tuesday in November, and that means it's almost time for the most famous horse race on the Australian sporting calendar.

So what time is this year's race? How can you watch? Who are the favourites? 

Here's your quick guide to the 163rd running of the Melbourne Cup.

What time does the Melbourne Cup start?

The Melbourne Cup is race seven on the program, scheduled for 3pm AEDT — that's Melbourne time, and also for those in New South Wales, ACT and Tasmania.

If you're in Queensland, the race will start at 2pm AEST, or in South Australia, at 2:30pm ACDT. In the Northern Territory, it will be 1:30pm ACST, and in Western Australia it will be 12pm AWST.

You can follow all the action throughout the day on our live blog.

How can I watch it?

The race will be broadcast on Channel Ten, which has the rights to this year's Melbourne Cup Carnival.

Their live broadcast will start at 10am AEDT and run until 5:30pm AEDT after the last race of the day.

Racing.com (digital Channel 78) also is able to broadcast the Cup live. Foxtel's Sky Racing is unable to carry the race live but will have it on delay, a few minutes after the event.

The race will also be streamed on 10Play. Kayo Sports will also carry the Racing.com coverage.

Where can I listen to the Cup?

The big race will be carried live on a number of radio networks — ABC local radio, the Racing and Sports Network, SEN Radio, Nine Radio, plus Triple M in Sydney, Melbourne, Brisbane and Adelaide.

Who are the favourites?

Form watchers took notice when Vauban smashed the field at Royal Ascot in June — now the Willie Mullins-trained galloper is the Melbourne Cup favourite.(Getty Images: Alex Pantling)

As often happens in recent times, the hot favourite for this year's Melbourne Cup is one of the internationals — Vauban, trained in Ireland by Willie Mullins.

A top horse racing over hurdles, Vauban made headlines on the flat in June when he blitzed a field at Royal Ascot (over 2,816m) by seven and a half lengths, before qualifying for the Cup field with a win in the Ballyroan Stakes at Naas in Ireland.

However, Vauban has not run in Australia. 

Vauban's stablemate Absurde, who qualified for the Cup by winning the Ebor Handicap (2,816m) at York in August, is also high on the list of chances.

Other leading entries include Without A Fight — trained by Anthony and Sam Freedman — who won this year's Caulfield Cup over 2,400m, the Chris Waller-trained Soulcombe and the Japanese stayer Breakup, trained by Tatsuya Yoshioka.

Last year's winner, Gold Trip — one of five runners for the training partnership of Ciaron Maher and David Eustace — is back and in fine form, coming off a third in the Caulfield Cup and a fifth place in the Cox Plate. However, he will have to carry a weight of 58.5kg — the last horse to win at that weight or higher was Think Big back in 1975.

Of the 24 horses in the Cup field, only six runners have won over the Melbourne Cup distance of 3,200m.

These are Vauban, Gold Trip, 2019 winner Vow and Declare, the Phillip Stokes-trained Daiqansweet Junior, the Irish-trained Okita Soushi and the Matthew Smith-trained, French-bred True Marvel.

What's the weather forecast?

As far as Melbourne Cup weather goes, this year's forecast is an each-way bet.

Last year, it was just 13C when the race ran on a rainy afternoon that produced some unforgettable scenes during a sudden bout of squally winds.

This year, it is forecast to be more than twice as warm with an expected maximum of 29C.

However, there is a high chance of rain again this year.

The Bureau of Meteorology says the showers are most likely to start in the afternoon and evening.

Thunderstorms could put a dampener on festivities for those not lucky enough to be in a marquee or grandstand, with the storms predicted to arrive sometime in the hour before the race and remain throughout the afternoon and into the evening.

What is the prize money this year?

The prize pool for the Melbourne Cup is $8 million.

The first 12 horses across the line will earn prize money.

The breakdown: 1st: $4.4 million; 2nd: $1.1 million; 3rd: $550,000; 4th: $350,000; 5th: $230,000; 6th to 12th: $160,000.

The Melbourne Cup trophy, which contains 1.65kg of 18-carat gold, is worth $250,000 on its own.

Join ABC Sport at abc.net.au/sport from 8am AEDT as Andrew McGarry and Mick Doyle live blog all the action from the Melbourne Cup