The town is abuzz with Melbourne Cup fever, and what better place to watch all the action than Port Douglas with the forecast for Flemington predicting showers for Australia's biggest horse race.

If you're thinking of heading into Macrossan Street today, the Court House Hotel has an exclusive Melbourne Cup day event with $80 getting you upstairs access, fine food, and plenty of refreshments.

Up the road a little and the Central Hotel is looking to shower prizes on the best dressed ladies. But come 3pm (Melbourne time), all eyes will be on the big screens as one horse and jockey make history.

So who will it be?

All the money is for the Spring Carnival's marquee horse, So You Think. The experts are saying he has it all; brilliant form, proven jockey, and legendary trainer in Bart Cummings who is chasing his 13th Melbourne Cup.

Even the other jockey's think he'll win and stretch his unbeaten run to six. The only question mark being his ability to run out the two miles.

For me, I figure that if you're going to have a punt you might as well make it count by picking a roughy.

This year I've got two. The first a Bart Cummings horse, but it's So You Think's stablemate Precedence who is currently paying $18. The other is the grey (grey's are easier to see in a big field), Linton who is good value at $20.

For those of you who are more professional and knowledgeable punters, other tips are Profound Beauty (Collingwood colours - apart from the hat), and Once Were Wild (best name).

But if your track record in picking a winner is as dismal as the Flemington weather, maybe you should follow the advice of the Ironbar's Steve Hull. "I'll stick to cane toad racing."

Good luck!