It's the one day of the year where you can let your hair down, drink some bubbly and lose a little money, as the race that stops the nation hits the capital.


Canberrans have dressed up in their best and brightest and converged on Thoroughbred Park to celebrate Melbourne Cup day in style.


Thoroughbred Park chief executive Peter Stubbs said they were expecting about 6000 people to attend today, which was about the average for the last three years.


"We've got seven local races on today but of course the focus is on the Melbourne Cup," he said. "It's a really sparkling day with everything happening and everyone here. There's something here for everyone to enjoy."


Despite the lack of a public holiday, Thoroughbred Park has had no difficulty filling the stands. University student Maddy Thorne said she had ditched her classes to attend.


"I'm finally 18 so I can actually get dressed up and have a girls' day," she said.


"It's just fun, the atmosphere is incredible."


Race goers David Kaufman and Marc Minato said it was a great excuse to chill and have some beers.


"It's a chance to see everyone dressed up and it's also the one day of the year you can spend a bit of money and get away with it," said Mr Minato.


More to come