Moony, the race is the Melbourne Cup.
It is run on the first Tuesday in November each year. It was first run in 1861 and so has developed quite a bit of folklore. In fact, it is called the Race that Stops the nation as people across the country, stop what they are doing to watch or listen to the race. It is one of the most famous handicap races anywhere. Horses from England, Ireland, Japan, Saudi Arabia, South Africa and the United States have all tried to win - few have succeeded.
What makes it so tough is that 24 horses start and the race is two miles long. The horse with the best breeding doesn't always win. In fact, some of the best stories come when some nag from the bush takes the Cup. It is one of those bizarre days that has sprung up over time to be an entrenched part of Australian life.
'Try not to have a good time...this is supposed to be educational.' - Lucy Van Pelt