The favorite in the race is Gai Waterhouse-trained Glencadam Gold who is looking to become the first favorite to win the race since Elvstroem in 2004.
The imported gelding is rated an excellent chance to end the Caulfield Cup favorites drought by online race books and is currently priced at odds of +290 ($3.90).
The son of Refuse to Bend has never lost in Australia and is also considered a strong chance to win Australia’s most famous race – the Melbourne Cup.
Glencadam Gold’s stiffest competition is expected to come from December Draw.
December Draw started the 2011 Caulfield Cup as favorite but was injured during the running of the race and finished last.
The gelding has been in consistent form this year but would need to improve to win his second Group 1 race.
French duo Americain and Dunaden are both confirmed to start in the Caulfield Cup and are aiming to join Poseidon (1907), Skipton (1943), Rising Fast (1955) and Viewed (2009) as horses that have won the Caulfield Cup after previously winning the Melbourne Cup.
Dunaden is currently priced at +700 ($8) in 2012 Caulfield Cup betting markets while Americain is at odds of +1200 ($14).
Jakkalberry is another international stayer that is considered a strong chance in the world’s richest 2400m handicap race.
The Storming Home stallion won the American St Leger at Arlington Park at his last start and has raced in five different countries.
He is joined in the field by European stayer My Quest For Peace.
The Luca Cumani-trained four-year-old won the Mayflower March Stakes at his last start and was purchased by an Australian-based racing syndicate specifically to run in the Caulfield and Melbourne Cup.
The top Australian chance in the field is Naturalism Stakes winner Folding Gear.
A Caulfield Cup win would be a fairytale for owners Lee and Shannon Hope who first raced the gelding in their hometown of Seymour.
The current top 10 in the Caulfield Cup betting market are:
Glencadam Gold @ +290
December Draw @ +550
Dunaden @ +700
Jakkalberry @ +1100
Americain @ +1200
My Quest For Peace @ +1300
Folding Gear @ +1400
Lights of Heaven @ +1600
Sneak A Peek @ +1600
Southern Speed @ +1600