Traditionally run on the Wednesday after the Melbourne Cup, the much-loved race day has been the subject of a battle between the State Government and Macedon Ranges Council after changes to the Public Holiday Act were introduced last September.

The changes dictate that non-metropolitan councils, such as the Macedon Ranges, can request a substitute holiday in place of the Melbourne Cup, but it must be observed by the entire local government area.

Macedon Ranges has observed a split-holiday system with northern towns having a public holiday on Kyneton Cup Day and the south of the shire taking a public holiday on Melbourne Cup Day.

At a council meeting in August, Macedon Ranges councillors voted to continue with this tradition.

The Kyneton Cup's premier race was first run in 1873 over 2000 metres.

The 2008 race was won by Who's Ya Daddy, ridden by jockey Mark Pegus.

This year a total of $270,000 in prizemoney will be shared across the eight-race program. The Kyneton Cup race is worth $90,000.