Almost a decade after Michelle Payne became the first female jockey to win the Melbourne Cup, a record four women riders will contest Tuesday's edition.

Almost a decade after Michelle Payne became the first female jockey to win the Melbourne Cup, a record four female riders are in the field seeking to emulate her feat.

Payne broke new ground in stunning fashion in 2015, steering 100-1 roughie Prince Of Penzance to one of the biggest upsets in the history of Australia's greatest race.

Now in-form Jamie Kah and British star Hollie Doyle are leading the charge, partnering with highly-rated contenders Okita Soushi and Sea King respectively for Tuesday's 164th edition at Flemington.

Rachel King will ride The Map from the second-widest gate and Cup debutant Winona Costin is out to cause a shock aboard Positivity.

Doyle leapt at the chance to steer dominant Bendigo Cup winner Sea King and is hopeful of following in Payne's footsteps, jumping from barrier one as Prince Of Penzance did in 2015.

"I linked up with Michelle last year and she's full of advice, so hopefully I'll see her on the day," said Doyle, adding the number of female jockeys in the race was "great for the sport".

"Rachel (King) rode in the US Breeders' Cup this weekend alongside me, and Jamie Kah rode a winner in Hong Kong last year also.

"It's great that there are a big bunch of female jockeys riding on an international stage."

Positivity is set to jump at about the same odds Prince Of Penzance did, but Costin insists she is "definitely" a chance.

Earning her first Cup ride is the realisation of a childhood dream, which began when watching super mare Makybe Diva claim her famous hat-trick in 2003-05.

"Everything about it is just so special," said Costin, who grew up near Wollongong's Kembla Grange racecourse.

"I was born around Melbourne Cup time and I've got family history in it as well, so it's a very important race to me.

"It's really good that all the females are getting a go.

"It's just how the times are changing; we're just the same as everyone now.

"There is no male or female, we're all just jockeys." 

Costin's great-grandfather Larry Wiggins rode Akbar to second place in the 1951 Cup and her grandfather on the other side of the family, Jack Wood, prepared Captain Peri to run third behind Think Big in 1974.

Four years later, her uncle Toby Autridge was a close second on Dandaleith behind Arwon.

"We haven't been fortunate enough to win it yet," she said, "but there's a little bit of history around it and hopefully I can go a bit better than them.

"I won't settle for second and third. I just want the win out there."

Champion trainer Chris Waller, who has leading contender Buckaroo as one of his five chances in the field this year, said it was "the most important thing" for racing to have strong female participation.

"It shows that racing's a level playing field and no-one's better than anybody else in my (opinion)," Waller said.

"We're all even on a racetrack and that's what makes racing so unique.

"Age, sex, gender, nationality, religion ... there is no boundaries. We're all together and it's the United Nations of sport."

Past winners Gai Waterhouse and Sheila Laxon headline a list of six female trainers involved this year, with Just Fine and Knight's Choice respectively.

They are joined by Annabel Neasham (Fancy Man), Debbie Rogerson (Sharp 'N' Smart), Natalie Young (Mostly Cloudy) and Oopy MacGillivray (The Map).