The $350,000 Hyland Race Colours Underwood Stakes appears poised to enhance its reputation as one of the most significant BMW Caulfield Cup lead-up events when it headlines a nine-race card at Caulfield on Saturday. Four of the top five in betting for the $2.5 million BMW Caulfield Cup will continue their campaigns in the 1800-metre Group 1, which has provided 10 of the past 25 Caulfield Cup winners.Boom Kiwi mare Scarlett Lady - a $10 chance in TAB Sportsbet's Caulfield Cup market - highly-rate

The $350,000 Hyland Race Colours Underwood Stakes appears poised to enhance its reputation as one of the most significant BMW Caulfield Cup lead-up events when it headlines a nine-race card at Caulfield on Saturday.

Four of the top five in betting for the $2.5 million BMW Caulfield Cup will continue their campaigns in the 1800-metre Group 1, which has provided 10 of the past 25 Caulfield Cup winners.

Boom Kiwi mare Scarlett Lady - a $10 chance in TAB Sportsbet's Caulfield Cup market - highly-rated import Glass Harmonium ($13) and classy four-year-olds Lights Of Heaven and Shamrocker (both $15) are among the 15-horse Underwood field.

The Bart Cummings-trained Precedence ($18) and $26 Caulfield Cup chances Maluckyday, Lion Tamer and Midas Touch are among the others prominent in betting that are engaged in the seventh event on Saturday's card, to be run at 3.40pm.

The Caulfield Cup hopefuls aren't the only Underwood runners of note, however, with top Western Australian Playing God to continue his Tatts Cox Plate preparation alongside 2009 Underwood winner Heart Of Dreams, who is striving to become the 12th multiple winner of the race.

The Underwood Stakes will also serve as the launching pad for another campaign for 2007 Melbourne Cup winner Efficient, who hasn't started since his upset win in the 2009 Turnbull Stakes.

BMW Caulfield Cup favourite December Draw might not be contesting the Underwood Stakes, but he will run at Caulfield this weekend with the Mark Kavanagh-trained gelding to contest the Naturalism Stakes (2000m).

The English import - who heads Caulfield Cup betting at $8 - has won three of his four starts in Australia, but is yet to pass the ballot, hence being directed towards the $125,000 Group 3 Naturalism, which carries a prized ballot exemption.

Last year's BMW Caulfield Cup runner-up Harris Tweed is also engaged in the Naturalism, along with Gai Waterhouse-trained Group 1 winners Herculian Prince and Once Were Wild and champion jumper Black And Bent.