Twenty-four top thoroughbreads will battle it out for this year’s Melbourne Cup on Tuesday (November 1).

The bookies favourite to land the spoils is Hartnell, the John O’Shea-trained mount of James McDonald. He’s currently priced at around $6 for the win.

Local interest comes in the form of Hong Kong based jockeys Joao Moreira and Chad Schofield who mount Heartbreak City and Oceanographer respectively.

The race is run over 3,200m.

Moreira lands Heartbreak City for Melbourne Cup as Purton prepares for Articus at Caulfield

The Emirates Melbourne Cup is the most prestigious Australian race and is one of the richest handicap contests in the world offering prize money of A$6.2 million (HK$36.6m).

Last year’s race was won by Prince of Penzance, ridden by Michelle Payne, who became the first female jockey to win the Melbourne Cup.

Tears for Red Cadeaux: Melbourne Cup's most poignant image illustrates the heart of horse racing

Last year’s race was memorable for Hongkongers after the retirement of the locally-owned Red Cadeaux, a three-time runner up, who suffered a suspected fracture in his left fetlock and was retired before later being euthanised due to complications from the injury.

The 2016 Melbourne Cup is being simulcast by the Hong Kong Jockey Club, which means you can also enjoy a flutter if you fancy.

Chad Schofield is perfectly placed to fulfil his Melbourne Cup dream with Oceanographer

What time does it start?

The race beings at 12pm (Hong Kong time).

Where can I watch it?

Live coverage of the race meeting begins at 10.05am on now668 or TVB J2.