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First markets for the Blue Diamond released on Tuesday contain an even bigger trap than usual for pre-post punters.

The Diamond betting is headed by Adelaide youngster Miracles Of Life at $6 with Diamond Glow next at $11.

But neither horse is entered for the race with connections required to pay a late-entry fee of $55,000 if they want to start.

Miracles Of Life has been brilliant in her only two starts, winning by 5-1/2 lengths on debut and nine lengths at her only other start.

Diamond Glow, trained by Peter Moody, won at Caulfield in January at her only appearance.

The $1 million Blue Diamond is one of three Group One races run at Caulfield on February 23.