Melbourne Cup: Kiwis back NZ horse

New Zealanders are supporting their own when it comes to the Melbourne Cup.

The TAB says Kiwi punters have backed Auckland Cup winner and New Zealand horse Who Shot Thebarman to the tune of $700,000.

Kiwi hopeful Lucia Valentina has been rated as the race's second favourite, paying $6.50 to win, behind Japanese horse Admire Rakti at $4.80. Who Shot Thebarman is paying $17.00 to win.

TAB executive general manager Glenn Patrick said New Zealanders traditionally liked to support horses with Kiwi connections for tomorrow afternoon's race.

"Increasingly non-traditional customers are punting on the Melbourne Cup - it's our biggest day of the year - so naturally people tend to get a bit patriotic about it and interestingly our seasoned punters do too.

"This year we are seeing early bets favouring Who Shot Thebarman over preferred second favourite Lucia Valentina, and quite a few for outright favourite Admire Rakti - but as the race approaches we are expecting to see more punters come out in support for Lucia Valentina," Mr Patrick said.

Since the announcement of the final field on Saturday, over $100,000 in bets have been made.

Mr Patrick said for major events like The Melbourne Cup 80 per cent of all betting was done on the day, and in 2013 1.6 million bets were placed on the day.

Mr Patrick said the TAB was expecting New Zealanders to bet more than last year's $12 million of bets, which included $9.4 million for the main race.

"Our racing customers love the event and it is increasingly attracting a much broader audience which speaks to just how important the Great Race has become here. And it is always more exciting to watch the race with a bet on," he said.

The TAB said one of the most interesting bets was one customer who put $1000 on Admire Rakti over a month ago when it was paying $61 to win. If Admire Rakti, the favourite to win at $4.80, did win, that bet will pay out $61,000.

Other big bets have been $1000 on Protectionist at $51, now paying $7.50, $2,000 on Red Cadeaux at $31, now paying $17, and $1000 on Cavalryman at $41, now paying $21. Big prizes from last year included an Auckland woman's $118,652 windfall from a $120 bet and a $37,968 win from a $5 bet.

Picks:

* Brendan Popplewell: TAB Trackside's premier on-course presenter: 1 Admire Rakti - 24 Signoff - 12 Who Shot Thebarman - 9 Royal Diamond

* The TAB Bookies - 8 Junoob ? 1 Admire Rakti ? 21 Araldo

Fast Facts:

* The starting favourite has won 35 of 153 Melbourne Cups, while the favourite has placed in half of the Cups.

* Royal and navy blue colours have been worn by the winning jockey 16 times, including last year. Jockey silks with black as the main colour have won 17 times. This year's runners in Royal or Navy Blue are: Fawkner, Cavalryman, Protectionist, Sea Moon, Royal Diamond, Mutual Regard, Willing Foe and Araldo.

* Internationally trained runners have placed in 12 of the last 13 Cups with favourites Admire Rakti and Protectionist short odds to do so again this year.

* In 2013 the TAB took 1.6 million bets on Melbourne Cup Day.