To win the race and set off a ring of cheers across the Taieri Plain, the 10-year-old horse will have to create history at 5pm today.
The horse, bred by Brian and Lorraine Anderton, at White Robe Lodge, will attempt to become the oldest horse to win the $7,050,000 event that first ran in 1861.
Only eight have attempted the feat at the ripe age of 10 and most have not finished in the first half of the field.
The combination of Who Shot Thebarman's age, past successes and his quirky name have elevated him to cult-hero status among horse racing fans.
Though the horse is rated as an outsider, Brian Anderton has no doubt Who Shot Thebarman will be competitive.
The horse comes in to the race after a fast finishing fourth in his last start in the 2500m Moonee Valley Gold Cup last weekend.
"As an observer, I thought it was a really good run and it suggested to me that over a bit more ground he will be ready to go a good race,'' he said.
"He has got barrier 18 to start from and no horse has won from there, but I said there is going to have to be one one day and it could be him.
"It would mean an awful lot to us if he was able to do it.''
Who Shot Thebarman is owned by the O'Leary family, of Whanganui. They purchased the horse for just $8000 from White Robe Lodge.
The four brothers and their wives named the galloper after a phrase their aunt would use when she was holding an empty glass.
Who Shot Thebarman has already competed in the big race three times for third, fifth and 11th placings.
He was sired by Yaminin Vital, which was struck down by an intestinal problem in the prime of his stud career.
His dam, 18-year-old Ears Carol, resides at the stud.
Who Shot Thebarman is at long odds of 34 to one to win today's 3200m event.
Punters heading to Wingatui today should have at least one advantage over those flocking to Flemington - they should not have to take a umbrella. Photo: Peter McIntosh.
Looks fine for Wingatui
Punters heading to Wingatui today should have at least one advantage over those flocking to Flemington - they should not have to take a umbrella.
The Otago Racing Club will hold its annual Melbourne Cup meeting today and a fine, clear day with little wind is forecast.
On the other side of the Ditch, showers and thunderstorms are tipped for Flemington.
Gates at Wingatui open at 11am, and the first race is at 11.50am. The final race at Wingatui will be at 4.40pm, after which punters can sit back and watch the Melbourne Cup at 5pm. General admission is $25.
It will be the first meeting for new Otago Racing Club general manager Rebecca Adlam, who was confident of a good day.
"Everything is looking fantastic. The team here have done a lot of work and we were lucky today with the weather we got that it has dried everything out and the course is great.''
No buses or trains would run to the course from Dunedin, although promoters have organised buses for students who have just finished exams.
Judging for Fashions in the Fields starts after race three at 1pm.
