Melbourne Cup: SkyNews.com.au’s tipsters share best bets, value and trifectas for punters looking for direction ahead of the big race

Thousands of punters will flock to Flemington on Tuesday as Australia stops to watch the 163rd running of the Melbourne Cup.

The famous 3,200m race jumps at 3pm (AEDT), with 23 horses running this year after the late scratching of Cleveland.

Horses have been shipped in from Ireland, Japan, France, Great Britain and New Zealand to compete for the eyewatering $8.4 million prize.

Betting can be confusing for fairweather punters, so SkyNews.com.au has collated an easy-to-read guide to help them find the best-value bookmakers.

Irish import Vauban is the hot favourite at $4.20, but last year's champion Gold Trip is highly fancied at $7.50, along with Caulfield Cup champion Without A Fight at $8.

The track is currently at a Good 4 with the sun shining at Flemington, but there is a chance thunderstorms could hit Melbourne between 2pm and 5pm.

Lexus Melbourne Cup - 3:00pm - 3,200 metres - Flemington

Neil Evans:

Best bet: 6. Soulcombe - $11 - He was tracking Gold Trip all the way in the Caulfield Cup until flattened at the 300m -the run though topped him off for the two miles and this has always been the target. Super fit now.

Next best: 1. Gold Trip - $7.50 - In a Melbourne Cup lacking depth and class, the defending champion is again the one to beat, this prep has been ideal to peak fourth up at the two miles.

Roughie: 4. Breakup - $18 - Underrated Japanese stallion who didn't do much in the Caulfield Cup; but it's always been about the two miles at Flemington.

Boxed trifecta: 1. Gold Trip, 4. Breakup, 5. Vauban, 6. Soulcombe

Mick Gannon:

Best bet: 3. Without A Fight - $8 - Is set for this year's Melbourne Cup and is very well suited on a dry track. Could easily win the Cups double.

Next best: 7. Absurde - $9.50 - The money has come and rightly so. He’ll relish the dry track, maps a treat and has a world-class jockey aboard.

Roughie: 4. Breakup - $18 - The 3,200m distance on a dry deck is ideal, he’ll improve significantly from his Caulfield Cup run.

Boxed trifecta: 3. Without A Fight, 4. Breakup, 5. Vauban, 7. Absurde

Neil Evans is a regular podcaster, columnist and contributor to The Sportsman - Australia's leading form newspaper, Racing NSW and the Sydney Morning Herald.

Mick Gannon is a racing expert and leading form analyst at TheGreatTipOff.com, SENTrack and also runs a racing podcast.

All odds are provided by Betr (at time of publication) and race times are Australian Eastern Standard Time.