$6 fav: 1. Vauban

7yo gelding (France)  |  Barrier 11  |  55.5kg 

Jockey: William Buick  |  Trainer: Willie Mullins

Vauban is out for redemption after his much-hyped appearance last year ended with a well-beaten 14th as favourite behind Without A Fight.

Legendary Irish trainer Willie Mullins has sent him back following a victory in the Lonsdale Cup (3,319m) and a second behind champion stayer Kyprios in September's Irish St Leger (2,816m).

Less depth in this year's Cup means a reproduction of Vauban's best form certainly puts him among the leading contenders — but can punters trust him after last year's disappointment?

Vauban is part of a two-pronged assault on the Cup for Mullins, who'll also saddle up last year's seventh-place finisher Absurde.

$6 fav: 2. Buckaroo

6yo gelding (Great Britain)  |  Barrier 21  |  54.5kg 

Jockey: Joao Moreira  |  Trainer: Chris Waller

Chris Waller has this former Irish-trained galloper racing in great form this spring, collecting victories in the Chelmsford Stakes (1,600m) and Underwood Stakes (1,800m).

He then ran a narrow second to Via Sistina in the Turnbull Stakes (2,000m) — that form reads pretty well considering the star mare then went out and demolished her rivals by eight lengths in the Cox Plate (2,040m).

Buckaroo is an unknown quantity over the 3,200 metres but closed off strongly for second in the Caulfield Cup (2,400m) when he arguably might have won with more luck in running.

He's developed a good association with the "Magic Man" Joao Moreira, who's looking to go one better than runner-up finishes in 2016 and 2023.

$34: 3. Circle Of Fire

5yo stallion (Great Britain)  |  Barrier 24  |  54.5kg 

Jockey: Mark Zahra  |  Trainer: Ciaron Maher

At only his third Australian start, Circle Of Fire won the Chairmans Handicap (2,600m) on a wet track in April and backed it up a week later by outstaying his rivals, including Athabascan, to win the Sydney Cup (3,200m).

This former English galloper has hasn't figured in the finish at his three runs this spring; his most recent a 10th, beaten 14 lengths, in the Caulfield Cup (2,400m).

Ciaron Maher, however, is a master at timing his horses to peak on the big day so an improved showing over Tuesday's 3,200m journey won't surprise.

Circle Of Fire will be partnered by Mark Zahra who's going for a hat-trick of Cup wins after victories aboard Gold Trip (2022) and Without A Fight (2023).

$26: 4. Warp Speed

6yo stallion (Japan)  |  Barrier 3  |  54.5kg 

Jockey: Akira Sugawara  |  Trainer: Noboru Takagi

Warp Speed is flying the flag for Japan this year and will certainly appreciate the distance rise to 3,200 metres on Tuesday.

It's been a year since the six-year-old's last win, but he raced creditably in the Japanese spring which culminated with a fifth in the rich Tenno Sho (3,200m) in April.

Warp Speed's first run in Australia was a well-beaten 13th on unsuitable wet ground in the Caulfield Cup (2,400m), trailing behind the likes of Buckaroo, Land Legend and Zardozi.

Trainer Noboru Takagi is expecting an improved performance on the bigger Flemington track and doesn't want to see any rain before the Cup.

$21: 5. Kovalica

5yo gelding (New Zealand)  |  Barrier 17  |  53.5kg 

Jockey: Damian Lane  |  Trainer: Chris Waller

This Chris Waller-trained five-year-old has shown plenty of ability but is struggling to find his next win — his last victory was the Queensland Derby (2,400m) in May 2023.

Kovalica has consistently raced in the highest grades and was fourth in the Epsom Handicap (1,600m) last month before running second in the Hill Stakes (1,900m).

He settled at the tail of the field and was fair through the line when finishing sixth in the Cox Plate (2,040m) behind stablemate Via Sistina just over a week ago.

Despite being untested beyond 2,400 metres, and having disappointed punters a few times in the past, you have to respect Waller's judgement to consider Kovalica worthy of a Cup tilt.

$71: 6. Sharp 'N' Smart

5yo gelding (New Zealand)  |  Barrier 15  |  53.5kg 

Jockey: Michael Dee  |  Trainers: Graeme & Debbie Rogerson

Sharp 'N' Smart is trying to recapture the form that saw him win three Group 1 races as a three-year-old, highlighted by the New Zealand Derby (2,400m) in March 2023.

A blood infection ruined much of his four-year-old season but his co-trainer, Graeme Rogerson, is hopeful of a forward showing on Tuesday.

Sharp 'N' Smart last appeared for an improved third in the Moonee Valley Cup (2,500m) just over a week ago behind Okita Soushi and will carry less weight.

Victory would cap an emotional year for Rogerson (a Cup winner with Efficient in 2007), who underwent life-saving heart surgery earlier this year.

His wife, Debbie, is overseeing Sharp 'N' Smart's preparation as Rogerson continues his recovery.

$34: 7. Just Fine

7yo gelding (Ireland)  |  Barrier 13  |  53kg 

Jockey: Jye McNeil  |  Trainers: Gai Waterhouse & Adrian Bott

This former English-trained gelding burst onto the scene last spring with a string of hard-running victories, but a year later he's struggling for consistency.

Just Fine kicked off his current campaign with solid efforts over shorter distances, before he booked a Cup berth with a narrow win in the Bart Cummings (2,520m) in September.

However he failed to back up that front-running performance when tiring badly in the Moonee Valley Cup (2,500m) to finish last, 10 lengths behind Cup rival Okita Soushi.

Jockey Jye McNeil has tasted Cup success aboard a front runner (Twilight Payment, 2020), while Hall of Fame trainer Gai Waterhouse is seeking a second after Fiorente saluted in 2013.

$18: 8. Land Legend

5yo gelding (France)  |  Barrier 18  |  53kg 

Jockey: Zac Purton  |  Trainer: Chris Waller

One of the leading "local" hopes, this former European won his first Australian start in the St Leger (2,600m) in Sydney last spring.

Now trained by Chris Waller, the five-year-old broke through for his maiden Group 1 victory by prevailing over Zardozi in a thrilling finish to the Metropolitan (2,400m) at Randwick last month.

Land Legend backed that up in the Caulfield Cup (2,400m) a fortnight ago, fighting on for third although being no match for Duke De Sessa and Buckaroo.

Jockey Zac Purton reported the horse raced too keenly at Caulfield and he'll not want a repeat if he's to see out the 3,200 metres on Tuesday.

$10: 9. Absurde

7yo gelding (France)  |  Barrier 7  |  52.5kg 

Jockey: Kerrin McEvoy  |  Trainer: Willie Mullins

For the second year running, Absurde is accompanying stablemate Vauban as part of of a dual assault on the Cup by master Irish trainer Willie Mullins.

The seven-year-old was the subject of strong market support last year and beat Vauban home when seventh behind Without A Fight.

Absurde comes into this year's Cup after four runs in Europe, including a win over hurdles and making simple work of the Chester Stakes (2,916m) in August.

He'll have the services of the winningest jockey in this year's Cup, Kerrin McEvoy, who saluted aboard Brew (2000), Almandin (2016) and Cross Counter (2018).

$41: 10. Athabascan

6yo gelding (France)  |  Barrier 2  |  52kg 

Jockey: Zac Lloyd  |  Trainers: John O'Shea & Tom Charlton

Athabascan, a former French galloper, narrowly missed out on a Cup start in 2023 and comes into it this year as one of only a handful of horses with a last-start win.

He appreciated a drop in grade to prevail narrowly in the St Leger (2,600m) in Sydney a fortnight ago, leaving Cup rival Trust In You in fourth.

The victory, however, was an improvement on his 10th place in the Metropolitan (2,400m) behind Land Legend and Zardozi on October 5.

Tuesday's race will pose a much tougher challenge than last start, although Athabascan does boast a second placing over 3,200 metres behind Circle Of Fire in the Sydney Cup.

$101: 11. Knight's Choice

5yo gelding (Australia)  |  Barrier 6  |  51.5kg 

Jockey: Robbie Dolan  |  Trainers: John Symons & Sheila Laxon

Knight's Choice has done most of his racing in Queensland and showed promise earlier in his career, claiming races like the Winx Guineas (1,600m) in 2023.

He recorded a few placings during this year's Brisbane winter carnival but has struggled when stepped up to the elite level in Melbourne this campaign. 

The five-year-old finished last behind Via Sistina and Buckaroo in the Turnbull Stakes (2,000m) before a well-beaten 14th in the Caulfield Cup (2,400m) a fortnight ago.

Knight's Choice ran an improved fifth, albeit in weaker grade, in last Wednesday's Bendigo Cup (2,400m), finishing five lengths adrift of Sea King. 

Sheila Laxon, who now co-trains Knight's Choice with her husband John Symons, landed a famous Caulfield-Melbourne Cup double with Ethereal in 2001.

$21: 12. Okita Soushi

7yo stallion (Ireland)  |  Barrier 10  |  51kg 

Jockey: Jamie Kah  |  Trainer: Ciaron Maher

Okita Soushi contested the Cup last year, finishing 11th when prepared by Irish trainer Joseph O'Brien.

Now with the Ciaron Maher stable, the lightly raced seven-year-old is hitting form at the right time as evidenced by a second placing in the Herbert Power Stakes (2,400m) on October 12.

He then made an early dash for home and outstayed his rivals, including Sharp 'N' Smart and St George, to win the Moonee Valley Cup (2,500m) just over a week ago.

Racing close to the pace is bringing the best out of Okita Soushi, so expect another positive ride from Jamie Kah as she aims to better her third place aboard Prince Of Arran in 2020.

$8.50: 13. Onesmooth operator

7yo gelding (United States)  |  Barrier 12  |  51kg 

Jockey: Craig Williams  |  Trainer: Brian Ellison

English runner Onesmoothoperator rocketed up Cup betting markets following his impressive two-length victory in the Geelong Cup (2,400m) where he trounced the likes of Interpretation and The Map.

The race at Geelong has been a good pipe opener for overseas raiders over the years — Media Puzzle (2002), Americain (2010) and Dunaden (2011) did the Cups double.

One of Onesmoothoperator's key runs before coming to Australia was a seventh in the prestigious Ebor Handicap (2,816m) in August, the form of which was franked when Cup rival Sea King easily defeated the locals in last Wednesday's Bendigo Cup (2,400m).

Onesmoothoperator has been cleared to race despite a minor injury scare and betting suggests punters believe he has the measure of many of the locals.

$16: 14. Zardozi

4yo mare (Australia)  |  Barrier 4  |  51kg 

Jockey: Andrea Atzeni  |  Trainer: James Cummings

The Cummings name is synonymous with the Melbourne Cup and this year Bart's grandson, James, is looking to add another Cup to the dynasty.

The winner of last year's Victoria Oaks, Zardozi was a narrow second to Land Legend in the Metropolitan (2,400m) in Sydney last month.

She followed that with fourth behind Buckaroo (second) and Land Legend (third) in the Caulfield Cup (2,400m) a fortnight ago.

Zardozi is the lone Cup runner to have a traditional hit-out on Derby Day, and she produced a slashing finish for fifth in the Empire Rose Stakes (1,600m).

Keep in mind that of the 45 mares to run in the Cup since 2005, only High Emocean (2022) and Verry Elleegant (2021) have finished top three.

$10: 15. Sea King

6yo gelding (Great Britain)  |  Barrier 1  |  50kg 

Jockey: Hollie Doyle  |  Trainer: Harry Eustace

English raider Sea King created a big impression on his Australian bow when streeting clear for a dominant win in last Wednesday's Bendigo Cup (2,400m).

It was almost a carbon copy of the performance of fellow overseas runner Onesmoothoperator, which made light work of the locals in the Geelong Cup (2,400m) a week earlier.

There was nothing between Sea King and his "smooth" rival when sixth and seventh respectively in the prestigious Ebor Handicap (2,816m) back in August — and punters are having a hard time splitting them here on Tuesday.

Sea King will have the services of record-breaking British jockey Hollie Doyle who'd be expecting a better result than her 15th aboard Future History last year.

$71: 16. Valiant King

5yo gelding (Great Britain)  |  Barrier 22  |  50.5kg 

Jockey: Craig Newitt  |  Trainer: Chris Waller

Champion trainer Chris Waller holds this former Irish staying talent in good regard, giving him plenty of time to settle after arriving Down Under last spring.

And while Valiant King is being brought along slowly this campaign with the Cup in mind, his form hasn't set the world on fire — he was a distant ninth last start in the Caulfield Cup (2,400m) behind Duke De Sessa and stablemate Buckaroo.

The five-year-old may be one of the roughies on Tuesday but you can never discount Waller, who trained Sheraz into third at 150-1 last year.

Valiant King is also one for those punters who like to have a flutter on the greys, but be mind mindful that only six have won the Cup in 163 runnings, the most recent being Efficient in 2007.

$81: 17. Fancy Man

7yo gelding (Ireland)  |  Barrier 19  |  50kg 

Jockey: Ron Stewart  |  Trainers: Annabel Neasham & Rob Archibald

This former English galloper has been with Annabel Neasham for almost two years but has just the one win so far Down Under.

That success came 12 months ago against a modest field in the Queensland Cup (2,400m).

But Fancy Man has been far from disgraced in his three runs this spring, the best of which was a third behind Herman Hesse and Okita Soushi in the Herbert Power Stakes (2,400m).

He backed up a week later and held his ground in the straight for sixth behind the likes of Buckaroo and Land Legend in the Caulfield Cup (2,400m).

$17: 18. Interpretation

7yo gelding (Ireland)  |  Barrier 14  |  50kg 

Jockey: Teo Nugent  |  Trainer: Ciaron Maher

Interpretation has survived an injury scare to line up in the Cup for a third time for trainer Ciaron Maher.

The former Irish galloper failed to finish at his first attempt in 2022 but finished strongly from the tail of the field when sixth last year behind Without A Fight.