Melbourne Cup cheat sheet: Odds, times and does the barrier matter?

Here are the key things you need to know before the running of the 'race that stops the nation'.

The Melbourne Cup is always held on the first Tuesday in November, this year's race will start at 3pm AEDT.

For those in Victoria, NSW, the ACT and Tasmania it's on at 3pm. If you're watching in Western Australia its 12pm, in the Northern Territory it's on at 1.30pm, and it's 2pm in Queensland, 2.30pm in Adelaide.

Channel 10 will have coverage of the Melbourne Cup from 10am until 5.30pm.

You can also livestream it at racing.com, or watch on the racing channel on Foxtel.

Saddlecloth number - Horse - Trainer - Jockey - barrier - Weight

1 - GOLD TRIP (FR) - Ciaron Maher & David Eustace - Mark Zahra - 14 - 57.5kg

2 - DUAIS - Edward Cummings - Hugh Bowman - 10 - 55.5kg

3 - KNIGHTS ORDER (IRE) - Gai Waterhouse & Adrian Bott - Tim Clark - 24 - 55.5kg

4 - MONTEFILIA - David Payne - Jason Collett - 11 - 55.5kg

5 - NUMERIAN (IRE) - Annabel Neasham - Tommy Berry - 7 - 55.5kg

6 - WITHOUT A FIGHT (IRE) - Simon & Ed Crisford - William Buick - 18 - 55.5kg

7 - CAMORRA (IRE) - Ben & JD Hayes - Ben Melham - 17 - 55kg

8 - DEAUVILLE LEGEND (IRE) - James Ferguson - Kerrin McEvoy - 9 - 55kg

9 - STOCKMAN (NZ) - Joseph Pride - Sam Clipperton -2 - 54kg

10 - VOW AND DECLARE - Danny O'Brien - Blake Shinn - 4 - 54kg

11 - YOUNG WERTHER (NZ) - Danny O'Brien - Damian Lane - 21 - 54kg

12 - HOO YA MAL (GB) - Gai Waterhouse & Adrian Bott - Craig Williams - 15 - 53.5kg

13 - SERPENTINE (IRE) - Robert Hickmott - John Allen - 23 - 53.5kg

14 - DAQIANSWEET JUNIOR (NZ) - Phillip Stokes - Daniel Moor - 13 - 53kg

15 - GRAND PROMENADE (GB) - Ciaron Maher & David Eustace - Harry Coffey - 1 - 53kg

16 - ARAPAHO (FR) - Bjorn Baker - Rachel King - 19 - 52.5kg

17 - EMISSARY (GB) - Michael Moroney - Patrick Moloney - 3 - 51.5kg

18 - LUNAR FLARE - Grahame Begg - Michael Dee - 12 - 51.5kg **scratched**

19 - SMOKIN' ROMANS (NZ) - Ciaron Maher & David Eustace - Jamie Kah - 16 - 51.5kg

20 - TRALEE ROSE (NZ) - Symon Wilde - Dean Yendall - 22 - 51.5kg

21 - POINT NEPEAN (IRE) - Robert Hickmott - Wayne Lordan - 20 - 51kg **scratched**

22 - HIGH EMOCEAN (NZ) - Ciaron Maher & David Eustace - 8 - Teo Nugent - 50kg

23 - INTERPRETATION (IRE) - Ciaron Maher & David Eustace - 6 - Craig Newitt - 50kg

24 - REALM OF FLOWERS - Anthony & Sam Freedman - Damien Thornton - 5 - 50kg

At 9am on Tuesday, November 1, English import DEAUVILLE LEGEND (saddlecloth number eight in barrier nine) is the hot favourite paying $3.50 for a fixed odds win with tab.com.au.

MONTEFILIA (saddlecloth four in barrier 11) and WITHOUT A FIGHT (saddlecloth six in barrier 18) are paying $11 for a fixed odds win.

REALM OF FLOWERS (saddlecloth 24 in barrier five) is paying $12 for a fixed odds win.

The longest odds are currently GRAND PROMENADE (saddlecloth 15 in barrier one) and TRALEE ROSE (saddlecloth 20 in barrier 20) which are both paying $71 for a fixed odds win.

READ MORE: How to pick a winner in this year's Melbourne Cup

Historically, some barriers have proven to be more likely to produce a winner than others, tab.com.au data shows.

The most successful barrier is number five which has produced eight winners. This is followed by 11 (seven winners), 10 (six wins), 14 (six wins) and eight (five wins).

IN OTHER NEWS:

As lucky as these barriers have been, there are others that haven't give the punters any luck.

Last year's winner, Verry Elleegant, was the first horse in history to win the race from barrier 18.

Barrier 15 has only had one win, while barriers two, seven and nine have only had two wins since the first running back in 1861.

The race is 3200 metres and a total of $8 million is on offer this year, it's the same as last year. This is the breakdown:

Position - Horse

1st - 4. VERRY ELLEEGANT

2nd - 2. INCENTIVISE

3rd - 3. SPANISH MISSION

Only five horses have won multiple Cups, with the great mare Makybe Diva holding the record with three Melbourne Cups, all ridden by jockey Glen Boss.

Wins - Horse - Years

3 Makybe Diva - 2003, 2004, 2005

2 Think Big - 1974, 1975

2 Rain Lover - 1968, 1969

2 Peter Pan - 1932, 1934

2 Archer - 1861, 1862