If for some chance you're not partaking in today's festivities, or perhaps you're overseas and you'd like to see what all the fuss is about, then here's the info you need.
Watching The Melbourne Cup On Twitter
Want to make snarky comments about the race while watching at the same time? Twitter's got you sorted. Like the presidential debates, they'll be broadcasting proceedings from 2:30 PM Sydney time (1:30 PM in Brisbane, 2:00 PM in Adelaide, 12:30 PM in Perth). You can tweet away until then, but note that the actual race isn't scheduled to kick off (as always) until 3:00 PM AEDT.
Watching The Melbourne Cup Through Seven
Provided you pop in an Australian postcode when prompted, you can watch Channel Seven's coverage here. Ex-pats tuning in from overseas might need to resort to a local VPN as well. Otherwise, pop in any Aussie postcode and you're good to go.
Watching The Melbourne Cup On Your Phone
You can watch through Twitter, but you can also use the PLUS7 app on Android and iOS. Foxtel has an app as well, but that won't work unless you're paying for the appropriate sports package.