New Zealand talent will be on display at this afternoon's Melbourne Cup race in Australia. 

Twenty-four horses will compete at Flemington Track at five o'clock, in a contest known as the 'Race That Stops a Nation'.  

The TAB is expecting New Zealanders to invest more than $12 million, for a chance to win big. 

Australian Racing Media Personality, Glenn Munsie, told Mike Hosking that you can’t cast aspersions on anyone’s selections on Melbourne Cup Day. 

He said it’s the only day in the year where anyone can be an expert. 

LISTEN ABOVE 

• "Electric atmosphere" expected at the 163rd Melbourne Cup