The Golden Slipper is the second richest race on the Australian calendar surpassed only by the Melbourne Cup, but the two races are polar opposites.With $3.5 million on offer, the two-year-olds scamper over 1200 metres under pressure from the moments the gates open.It's not a race for the faint-hearted, horse or jockey, with the winner almost always deservedly named Australia's best juvenile.The support card includes four other Group One races and overall there is $7.5 million up for grabs on th

The Golden Slipper is the second richest race on the Australian calendar surpassed only by the Melbourne Cup, but the two races are polar opposites.

With $3.5 million on offer, the two-year-olds scamper over 1200 metres under pressure from the moments the gates open.

It's not a race for the faint-hearted, horse or jockey, with the winner almost always deservedly named Australia's best juvenile.

The support card includes four other Group One races and overall there is $7.5 million up for grabs on the day.

It makes for a spectacular day's racing:

GOLDEN SLIPPER (1200m for two-year-olds): The showpiece of juvenile racing in the world, the Golden Slipper has become one of the most important events for the breeding industry.

Not only does victory consolidate the position of the winner's sire, if a colt wins it ensures his own future at stud.

But the colts are outnumbered with just three - Beneteau, Brightexpectations and Hinchinbrook - competing this year against 10 fillies and two geldings.

Queensland filly Military Rose is the bookmakers' nightmare and a deserved favourite with five wins from five starts. She is a daughter of General Nediym who went into the 1997 Slipper unbeaten but finished fourth to Guineas.

While hardened punters have flocked to Military Rose, sentiment and form say Chance Bye will be hard to beat. The fairytale story of her battling trainer who borrowed the $15,000 to pay for her at the yearling sale is well documented.

Perhaps not so well documented is that Michael Tubman is a horseman with decades of experience and he won't hear of her being beaten. He places his faith in his stopwatch, his filly and her rider Kathy O'Hara who can make history as the first woman to ride a Slipper winner.

Crystal Lily is another heavily supported and she is by Stratum who won the Slipper in 2005 while Georgette Silk's sire Flying Spur took the prize a decade earlier.

Beneteau, who was the early favourite until being beaten in the Blue Diamond and again in the Todman Stakes, is a son of Redoute's Choice who is the most famous late scratching from the Slipper.

The raging favourite in 1999, Redoute's Choice was withdrawn an hour before the race with a high temperature leaving Catbird to grab the spoils.

Catbird's win guaranteed him a successful career at stud but it was Redoute's Choice who became a star in the stallion barn.

Gai Waterhouse's two runners, Brightexpectations and More Strawberries, are both by More Than Ready who has produced the past two Slipper winners - Sebring and Phelan Ready.

Such is the prestige of of a Slipper win, More Than Ready was the only major sire whose service fee increased last year in times of economic uncertainty.

THE BMW (2400 metres weight-for-age): The BMW is the country's richest 2400m weight-for-age race with $2.25 million on offer and its recent honour roll includes greats such as Makybe Diva, Ethereal, Tie the Knot, Might And Power and Octagonal.

Will this year be Theseo's year?

Last year's Australian middle distance champion, Theseo missed the spring with injury but has returned with a vengeance this autumn, winning two Group One races already.

His trainer Gai Waterhouse calls him a warhorse and his opponents know they have been in a battle. Theseo races on the pace and defies his rivals to beat him.

The biggest question mark is the 2400 metres. Last year he was valiant in defeat when second on a wet track to mudlark Fiumicino. The track is expected to be wet again but not as soggy as last year. Theseo is often compared to two other Waterhouse-trained stars - Grand Armee and Desert War whose racing styles were a mirror image of Theseo.

Both tried to win the BMW and both came up a little short. Theseo will have his work cut out against some tough, hardened stayers, but few would begrudge him victory.

THE GEORGE RYDER STAKES (1500 metres weight-for-age): Previously known as the Railway Handicap, the weight-for-age race was renamed in 1973 to honour George Ryder, the man whose vision and persistence was behind the creation of the Golden Slipper.

A vital guide to the Doncaster Handicap, the race was won last year by Vision And Power who went on to claim the double. Vision And Power has had a muddled preparation due to the hard tracks but things have fallen into place this week with rain softening the ground.

In 2009, Vision And Power beat Black Piranha and King Mufhasa. Those two are back again this year for revenge.

Bookmakers think it will be a different result this time around with Black Piranha the most favoured of the trio.

THE VINERY STUD STORM QUEEN STAKES (2000 metres for three-year-old fillies): The traditional lead-up and vital guide to the AJC Australian Oaks a couple of weeks later.

It is the first time most of the fillies have stepped up to 2000 metres and an indication of whether they will be able to go another 400 metres in the Oaks.

Already proven is Small Minds, winner of the recent Australasian Oaks in Adelaide, and Faint Perfume, the VRC Oaks winner of last spring from the Bart Cummings stable.

Valdemoro chased Faint Perfume home in the Flemington Classic and bookmakers believe the two will fight it out again with Set For Fame and Once Were Wild the main challengers.

QUEEN OF THE TURF STAKES (1500 metres weight-for-age fillies and mares): The race that can cement Typhoon Tracy as the leading contender for Horse of the Year.

But it won't be easy for the Melbourne pin-up with Sydney's own More Joyous issuing the challenge.

Just over a year ago, the Peter Moody-trained Typhoon Tracy claimed her first Group One race when, as a three-year-old, she beat the older mares in the Coolmore Classic.

Since then she has won three more Group Ones including the CF Orr Stakes and Futurity Stakes against all comers.

More Joyous, who races out of the Gai Waterhouse stable for millionaire businessman John Singleton, won the Flight Stakes in the spring and her two lead-up races this campaign.

She is also three from three on slow tracks, conditions Typhoon Tracy has yet to experience.