The only public holiday in the world dedicated to a horse race, Melbourne Cup Day has been observed in Melbourne, Victoria, Australia, since the first Cup race was held there in 1867. For those who attend, it is a particularly glamorous event: the champagne flows, huge sums of money are wagered, and the women wear lavish hats while the men turn out in grey top hats and dark morning suits. A six-week festival, known as the Spring Racing Carnival, leads up to the big day and lasts well into November. Discuss
Source: The Free Dictionary