The eight-year-old has been the subject of a massive betting plunge after turning heads with a brilliant dawn gallop at Flemington on Wednesday.

Bookmakers were swamped by punters wanting to back the Irish stallion to go one better than his bold second to Makybe Diva last year when he gave the mighty mare a hefty 2.5-kilogram advantage.

This time both will carry equal weights and connections are confident Vinnie Roe can land victory in his third and final attempt at the race.

"I know he's a year older but physically he's better," track rider Jeff Byrne told reporters at Flemington.

Vinnie Roe also finished fourth to his stale-mate Media Puzzle in 2002 but this will be his last shot at the Melbourne Cup after it was announced he was being retired to stud after the race.

He is already one of Europe's great distance horses, with 13 wins from 28 career starts, including four successive victories in the Irish St Leger.

His trainer Dermott Weld won the Melbourne Cup with Vintage Crop in 1993 and again with Media Puzzle three years ago.

Weld remains the only person from outside Australasia to win the gruelling 3,200-metre handicap.