Horseracing is an important part of Australia's history, providing insights into leisure, industry and society, and the Melbourne Cup is Australia's premier horserace. Run continuously since 1861, the Melbourne Cup is an annual handicap race run at Melbourne’s Flemington racecourse over a distance of 3200 metres. The fact it is a handicap race means even mediocre horses have a chance at winning. This encourages high stakes and rags-to-riches stories. The Melbourne Cup continues to capture the popular imagination and draw a national audience. In 1934 Peter Pan, who had also won the Melbourne Cup in 1932, won by four lengths on a very wet track. He is one of only five horses to win two Melbourne Cups.
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