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Magic Circle is the horse punters want to be on to win today's Melbourne Cup

Yucatan holds the favourite tag for the Melbourne Cup (3200m) with but has been a drifter in betting since the barrier draw on Saturday.

It won’t be easy for James McDonald to win from barrier 23/24, but the Herbert Power was one of the best Cup trials you’ll ever see and that’s why he opened $4.20 Final Field. That was too short and he got to $6.50 but has now settled at $6.

The horse that has been best backed to beat the favourite is Magic Circle at $8, in from $9.50. He will love getting his toe into the ground and seemingly draws ideally for his racing pattern.

There has been a host of runners specked at odds, including Best Solution ($15-$11), Sound Check ($41-$35), Who Shot Thebarman ($51-$35), Marmelo ($17-$13) and Youngstar ($21-$15).

The best backed at longer odds has clearly been Red Cardinal, who will love a track with give in it. He opened $71 and the each way bets have rolled, now into $35.

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