Nothing reminds us it's the first Tuesday of November quite like Melbourne Cup day.

It's billed as the race that stops a nation but many Kiwis are also keen to jump into the spring racing spirit too.

Last year, more than 100,000 New Zealanders had a punt on the race, and this year's Melbourne Cup day will be the first time since 2019 that Covid-19 hasn't restricted the crowd size.

First run in 1861, the tradition of the Cup is still going strong with Kiwis betting $11.7 million on the Cup race alone in 2021.

As you mull over your one-in-23 chance of winning the office sweepstake – see below – check out the answers to all of your critical questions for Tuesday's big race.

What time does the Cup race start?

The Melbourne Cup jumps at 5pm (New Zealand time) but it usually runs a couple of minutes late. For betting purposes, the meeting number is 7 and the Cup is race 7 at Flemington.

I've picked a horse, what chance is it of winning?

Here's how The Age's analyst assesses the chances of each horse.

How long is the race?

The Melbourne Cup is contested over 3200 metres (two miles). The 23 runners will run down the Flemington straight and then will have a lap to run when they reach the winning post.

How long will it take?

The Cup should be run and won in around three minutes and 20 seconds.

Kiwi jockey James McDonald seems to be winning everything at the moment, does he have a ride in the Melbourne Cup?

No. McDonald, who won the race for the first time last year aboard Verry Elleegant, was to ride the German-trained Loft but the horse was scratched on Friday morning after Racing Victoria vets identified a tendon issue. A cruel blow for the Kiwi star given the form that he's been in and at the time, Loft was the second favourite in the race and considered a serious chance.

Who are the favourites?

English horse Deauville Legend (No 8) is currently a clear favourite at $3.50 on the NZ TAB. The four-year-old will jump from barrier nine and carries 55kg in the hands of three time Melbourne Cup winning jockey Kerrin McEvoy. Trained by James Ferguson, the Sea The Stars gelding has won three of his seven starts and placed in three others in England. Yet to be tested over the distance but has excelled over 2300m in England. Local hope Realm Of Flowers (No 24) is second favourite at $9 and should relish conditions if the track is wet. Irish stayer Without a Fight (No 6) shares third favouritism with Sydney mare Montefilia (No 4) at $11. Ex-pat Kiwi jockey Jason Collett rides Montefilia.

Will the favourite win and who are the others who could cause an upset?

That requires a crystal ball. It's rare for the favourite to win the Melbourne Cup. Fiorente was the last favourite to win and that was back in 2013. He was the first favourite to win since Makybe Diva won the third of her three Cups in 2005. In 2022, UK racing analysts insist Deauville Legend is a superior horse to his rivals.

For upsets, you could do worse than look at three Kiwi-bred horses: Stockman (No 9), Young Werther (No 11) and Daqiansweet Junior (No 14) were all paying $31 on the TAB fixed odds market on Monday. You might get better odds on the tote on Tuesday for the latter.

How many people will be there?

Obviously, it's weather dependent, but being the first year since 2019 where Covid-19 restrictions haven't been in place to some degree, a massive crowd is expected in 2022. A decent day is expected to deliver in excess of 100,000 punters on course, but the forecast is a bit chilly and with some showers.

Are there any Kiwi jockeys in the race?

Yes, two other former Kiwi jockeys who began their careers in New Zealand before shifting to greener pastures across the ditch will ride in the Cup. Saturday's Derby winning jockey Michael Dee who rides Lunar Flare (No 18) and Jason Collett is on Montefilia (No 4).

Is last year's winner Verry Elleegant racing?

No, the upset winner who paid $17 when winning the 2021 Melbourne Cup was retired earlier this month following a European campaign where she was below her best. The champion Kiwi-bred mare won 11 Group I races and just shy of a whopping $15 million in prize money throughout her glittering career. Vow And Declare, who won the race in 2019, is back as the only previous winner in the field. He will be No 10.

Are there any New Zealand-trained runners are in the Cup?

No. For the first time in a while, there will not be a New Zealand-trained raider crossing the ditch for the Melbourne Cup. However, three New Zealanders who now call Australia home, will line up runners. Bjorn Baker – the son of Murray Baker who trained 1990 runner-up The Phantom – has outsider Arapaho in the No 16 saddlecloth and Mike Moroney, who won the 2000 Melbourne Cup with Brew, starts Geelong Cup winner Emissary in No. 17.

Where is Michael Walker?

The popular Kiwi jockey has never won the Cup but has come almighty close with multiple placings aboard horses such as Criterion and Prince Of Arran but is currently recovering from a series head injury. Walker, who also missed last year's Melbourne Cup because of injuries suffered in a race day fall, was on the comeback when he suffered a shocking fall at the Pakenham jumpouts in August.

How much does the winner get?

Prize money for the 2022 Melbourne Cup totals $8.6 million. The owners of Tuesday's Cup winner will win a whopping $4.9m.

Any late scratchings?

Point Nepean (No 21) was withdrawn on Monday morning because of elevated blood readings. There are no emergencies in the Cup so it's down to 23 starters.

Who was the last Kiwi jockey to win the race?

James McDonald's win aboard last year's winner Verry Elleegant. Before that, it was Jimmy Cassidy, aboard Might and Power in 1997.

How many horses in the race were bred in New Zealand?

Six Kiwi-breds start the race this year, down from seven last year. They are:

• Stockman (No 9), trained by Joseph Pride in Sydney. Bred by Sir Patrick and Lady Justine Hogan, the Tavistock gelding out of the Group II winning mare Crimson was purchased out of the 2018 Karaka yearling sales.

• Young Werther (No 11), trained by Danny O'Brien in Victoria. By the now deceased Cambridge Stud stallion Tavistock out of Romantic Time, Young Werther was purchased from the 2019 Karaka yearling sales for $140,000.

• Daqiansweet Junior (No 14), trained by Phillip Stokes in Adelaide. Bred by Gillovic Bloodstock, by Sweet Orange out of Paulette, Daqiansweet Junior won two of his eight starts in New Zealand for Murray Baker and Andrew Forsman stable before being purchased by Australian connections.

• Smokin' Romans (No 19), trained by Ciaron Maher and David Eustace in Victoria. Bred by Brian and Lorraine Anderton's White Robe Lodge, the son of Ghibellines is out of the stud's classy mare Inferno.

• Tralee Rose (No 20), trained by Symon Wilde in Victoria. Also sired by Tavistock, Tralee Rose is out of the winning mare Star of Tralee, She sold for $50,000 at Karaka in 2018.

• High Emocean (No 22), trained by Maher and Eustace. High Emocean was bred by the Hawkins family's Llanhennock Trust and is by Cox Plate winner Ocean Park out of High Joy. She sold for $80,000 at Karaka in 2018.

How many New Zealand-bred horses have won the race?

New Zealand-bred horses have won 44, 16 of were also New Zealand-trained.

When was the last time a New Zealand bred-horse won?

Twelve months ago, when the Chris Waller-trained Verry Elleegant gapped the field by four lengths. The daughter of Zed was bred by Don Goodwin and won two of her first three starts in New Zealand when trained in Auckland by Nick Bishara. And the time before that? Prince of Penzance's historic win in 2015 – when Michelle Payne became the first female jockey to win the race.

- Stuff.