Businessman Rick Hart does not expect to get much change from $20,000 during his Melbourne Cup celebrations - and that's before he even has a bet.
Mr Hart will join the Victoria Racing Club for the race that stops a nation and will probably make his way to the Emirates tent in the VIP area known as the Birdcage before the day is done.
He believes the cost of celebrations over seven days, including pre and post Cup events, accommodation, clothes and limousines, will be up to $20,000 for himself and his wife Lesa Hinchliffe.
"But I intend to make it all back on the track," he said. "Although perhaps they are famous last words."
It has been an interesting road to the high rollers marquee for Mr Hart, who worked as a Perth bookie on Melbourne Cup race days from 1978 to 2002.
During that time, he also ran his eponymous electrical goods chain store, drawing only a part-time income from the racing industry.
When faced with a decision on which career to focus on, he wagered on retail and came out a winner.
The chain became a household name and was worth $10.5 million when he sold it in 2005.
He then went on to open Kitchen Headquarters in Osborne Park.
Mr Hart said visitors to Flemington Racecourse wanted to see the big race and to kick up their heels, but it was also considered a major networking opportunity on the business calendar.
"It's the one time when you can talk to people for a decent period of time without too many interruptions," he said.
His early race tips were Gai Waterhouse's Fiorente, and depending on this weekend's race results, he may also favour Gerry Harvey's stallion Puissance De Lune.
Perth Glory owner and mining magnate Tony Sage will be in the Emirates marquee, claiming he was invited in honour for being the airline's number one frequent flyer in Australia.
Businesswoman Rhonda Wyllie is also a regular at one of the VIP tents in the Birdcage, and this year is expected to attend the Emirates, Crown or Myer marquees. Among high-profile West Australians flying over for the event are Ron Woss and wife Brigid from the Woss Group, Hawaaian Group boss Russell Gibbs and wife Tamara, mining magnate Chris Ellison and wife Tia as well as property developer Nigel Satterley and wife Denise.
Crown Perth boss Barry Felstead and wife Katrina, as well as the group's chief operating officer Andrew Hill and wife Danielle, will be flown over as guests in the Crown marquee.
WA-born media personality Rebecca Twigley and her Carlton footballer husband Chris Judd, now based in Melbourne, will attend the Myer tent.Others likely to attend include the head of Automative Holdings Group Bronte Howson and wife Colleen, Eagles boss Trevor Nisbett and wife Pam and Woodside's Peter Coleman and his wife.