Gai Waterhouse says judging by his trackwork at Flemington on Tuesday, Theseo will win his third Group One race for the season in Saturday's $1 million Australian Cup.The Danewin five-year-old, galloping on the course proper, was ridden by Waterhouse's travelling foreman Steve O'Halloran with a heavy work saddle on and finished off the last 400m of his workout strongly in 23.65 seconds."He's absolutely flying. He had quite a bit of weight on his back and I thought his work was absolutely excepti

Gai Waterhouse says judging by his trackwork at Flemington on Tuesday, Theseo will win his third Group One race for the season in Saturday's $1 million Australian Cup.

The Danewin five-year-old, galloping on the course proper, was ridden by Waterhouse's travelling foreman Steve O'Halloran with a heavy work saddle on and finished off the last 400m of his workout strongly in 23.65 seconds.

"He's absolutely flying. He had quite a bit of weight on his back and I thought his work was absolutely exceptional and he'll win the Australian Cup on that work," Waterhouse said.

"He's racing well. On his two runs down here, and his previous form down here, I can't see why he won't win.

"If he does win there's every chance he might go to (Royal) Ascot."

The Australian Cup (2000m) winner is invited to run in the Prince Of Wales Stakes (2000m) at Royal Ascot in June.

After Theseo runs in the Australian Cup, the gelding is scheduled to return home to Sydney where he will contest the Ranvet Stakes (2000m) on March 21 and $2.25 million The BMW (2400m) on April 4, both at weight-for-age at Rosehill.

"He's a really happy horse. He's done everything right, he's just come of age," Waterhouse said.

Waterhouse said Theseo, a winner in three states, had taken a quantum leap from handicap racing to weight-for-age level.

"I always thought he was a serious horse right from when I recommended that Denise Martin buy him at the Magic Millions," she said.

"He just had a lovely presence about himself and carried himself very well. He's a very tall, leggy horse, a lean type of gelding and he really relished his work."

The winner of the Epsom Hcp (1600m) at Randwick and the Mackinnon Stakes (2000m) at Flemington last spring was a convincing last-start 3-3/4-length winner over Baughurst when he led all the way in the Group Two St George Stakes (1800m) at Caulfield.

Theseo dominates as $2.25 favourite in TAB Sportsbet's Australian Cup fixed odds market ahead of Master O'Reilly and Futurity Stakes winner Niconero at $9 with Baughurst and Road To Rock at $10.

Last year's winner, the Bart Cummings-trained Sirmione, who had hamstring soreness following his last in the St George, finished off the final 400m of his gallop in 24.11s.

The Anthony Cummings-trained Road To Rock, last Saturday's Sportingbet Gold Cup (2000m) winner at Caulfield, had a solid hitout going over 2000m in 2:21.8, coming home his last 400m in 22.60s.