At this year's Melbourne Cup, which took place on Tuesday, no horses died - but many were expecting them to. In fact, an Australian broadcaster released a satirical piece weighing which horse would be most likely to die.
While many people are appalled by the deaths of these horses, the Melbourne Cup continues to hold mass appeal in Australia - there are office parties, booze-filled luncheons and cash wagers. About 100,000 people attend the Melbourne Cup in person, and millions watch it on TV. The race also makes the Australian state of Victoria a lot of money. In 2014, the race made approximately $194.9 million AUD (about $149 million USD) in revenue, according to a racing industry report.