The nomination system of the Melbourne cup commences in the 1st week of August. The committee chooses 24 horsed out of a pool of 300-400 horses.
After the nominations are declared, the various owners of the horses must give their consent to run the race 4 more times before the race begins.
The main intention of the nomination system is to grant the owners time to analyze the competition as the process advanced. The owners are given 4 chances to decide whether they wish to allow their horses to be in contention in the selection process.
In order to continue in the selection process, the owners have to pay a fee or else they must withdraw from the race. Owners are allowed to bet on their horses at bookmakers such as crownbet.com.au.