The first Melbourne Cup horse race unfolded at Flemington Racecourse, a venue that would become synonymous with Australian horse racing. The Victoria Racing Club organized the event, with the goal of creating a premier horse racing event that would entertain and engage the community. The race featured a variety of horses, each vying for the coveted title, and sparked a sense of competition among both riders and attendees. Spectators showed up in large numbers, excited to witness this newly initiated race, which was expected to become a major annual highlight in Melbourne’s social calendar.

The Melbourne Cup was held over two miles, a challenging distance that tested the endurance of the horses. The excitement built as the race was run, drawing in not only the local populace but also visitors from surrounding areas. The event was characterized by a festive atmosphere, with people dressing in their finest attire and celebrating the spirit of competition. The race's outcome was of significant interest, as it represented not only the triumph of the winning horse but also signified Melbourne’s growing reputation in the sporting world at that time.

As the days progressed following the inaugural Cup, it became clear that this event was more than just a race; it was the beginning of a cultural phenomenon that would capture the hearts of Australians. The tradition of a 'Caulfield Cup' followed, but the Melbourne Cup distinctly held its ground as a premier event in the horse racing calendar. The crowds increased in size in subsequent years, turning the first race into an annual spectacle that now attracts millions of viewers worldwide. The Melbourne Cup established a legacy that contributes significantly to the social fabric of Australia, merging sport with community celebration in a unique fashion.