<Table> Melbourne Cup <Tr> <Td_colspan="2"> Group I race </Td> </Tr> <Tr> <Td_colspan="2"> Engraving of the finish line at the 1881 Melbourne Cup </Td> </Tr> <Tr> <Th> Location </Th> <Td> Flemington Racecourse Melbourne, Victoria, Australia </Td> </Tr> <Tr> <Th> Inaugurated </Th> <Td> 1861 (List of Melbourne Cup winners) </Td> </Tr> <Tr> <Th> Race type </Th> <Td> Thoroughbred--Flat racing </Td> </Tr> <Tr> <Th> Sponsor </Th> <Td> Emirates Airline </Td> </Tr> <Tr> <Th> Website </Th> <Td> Flemington Racecourse </Td> </Tr> <Tr> <Th_colspan="2"> Race information </Th> </Tr> <Tr> <Th> Distance </Th> <Td> 3,200 metres (2.0 miles) </Td> </Tr> <Tr> <Th> Surface </Th> <Td> Turf </Td> </Tr> <Tr> <Th> Track </Th> <Td> Left - handed </Td> </Tr> <Tr> <Th> Qualification </Th> <Td> Three - year - olds and up </Td> </Tr> <Tr> <Th> Weight </Th> <Td> Handicap </Td> </Tr> <Tr> <Th> Purse </Th> <Td> A $6,200,000 (2017) </Td> </Tr> </Table> <Tr> <Td_colspan="2"> Group I race </Td> </Tr>

Is the melbourne cup a group 1 race