Format
On Easter Saturday the heats are conducted, with the winner of each heat going through to the semi finals along with the next best fastest times. On Easter Monday the six semi finals are run approximately 2 hours before the final with semi final winners only advancing to the final. (Six semi finals were first run in 1988, before that there were only five semi finals.)
The Gift is run on a 120m grass track in front of the 100 year-old Stawell Grandstand, and the athletes run in lanes that are separated by lane ropes rather than painted lines.
The idea of the handicap system is that all runners would theoretically cross the line at the same time. The handicapper works out what mark or handicap the runner will have according to their previous performances in sprint events. Currently the most a runner may be handicapped is 10 metres, although this is occasionally increased to 11. Each metre in handicap denotes approximately a tenth of a second in time. Race winners are often those that are able to 'beat the handicapper', in that they need to perform well enough to qualify for the event and the finals, but below what they are truly capable of, so that they receive a handicap that gives them the best chance of a victory. The handicapping system often ends up pitting local runners against international professionals.
Gambling is allowed in the venue, and there is an extensive Bookmaker's compound.
While the Stawell Gift is the feature race, the meeting also includes many other races, with more than sixty events taking place over the three-day meeting. The Women's Gift has run since 1989.
Read more about this topic: Stawell Gift