14/01/2017 12:59 PM AEDT | Updated 16/01/2017 10:46 AM AEDT

Gold Coast Frocks Up For Magic Millions 2017

It's a big day of racing on the Gold Coast.

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Australia's richest day of racing is underway on the Gold Coast.

Thousands of racing fans and fashionistas have frocked up for the biggest day of racing on the Gold Coast calendar -- the Magic Millions.

The focus for punters is race eight, the Magic Millions two-year-old Classic over 1200m, with the field remaining wide open despite From Within dominating the market.

While the big question for serious racegoers will be whether the Chris Waller-trained filly can take home the $2 million purse on Australia's richest raceday, there's also lots of non-racing related activity going on trackside.

Magic millions race day 🏁 Will you have a win today

A photo posted by dean johnson (@deanjohnson) on

That includes, for fashion enthusiasts, the always hotly-contested fashions on the field competition.

With the contest's prize pool topping $30,000 across the women's and men's racewear categories, there's good reason for the thousands in attendance to keep the style standards up.

Myer ambassador Jodi Anasta and by johnny designer Johnny Schembri told the Gold Coast Bulletin there was no excuse to dress sloppily at the races.

"I love a good spaghetti-strap top, but when it comes to racing it's supposed to be that little bit more special and ... not so bikini-like," Schembri told the Gold Coast Bulletin.

"While the fashion is definitely more relaxed at Magic Millions, it is not a nightclub."

Judging from social media, many racegoers are heeding the advice.

Magic Millions 🍾 🏇#giddyup #gcturfclub #magicmillions #raceday #girls #bringonthewinnings

A photo posted by Elisha (@elishalt) on