Winning the Melbourne Cup never gets old, even when you're Damien Oliver.

The three-time winner nearly missed out on a ride in his 26th Melbourne Cup when owners Lloyd and Nick Williams had to pull Amralah out of the race.

In stepped Gai Waterhouse and her Bendigo Cup winner The Offer.

Should Oliver win on Tuesday he will equal the record four Melbourne Cups won by jockeys Harry White and Bobby Lewis.

"That would be pretty special to share a part of history with some very famous jockeys," Oliver said on Monday.

His first Cup win was on Doriemus in 1995, followed by the emotional victory on Media Puzzle a week after his jockey brother Jason Oliver died in a barrier trial fall in 2002.

He was then part of Waterhouse's first Melbourne Cup on Fiorente two years ago.

The amazing feeling is still the same, even after the second or third win, Oliver said.

"Oh yeah, it never gets old."

The last moments of the wins are what Oliver remembers the most.

"It's usually the last 200 metres that really sticks in your mind and that sheer jubilation and elation when you cross the line, and the euphoria of winning that greatest race," he said.

"Your body just becomes overcome with emotion.

"It's something you wish every jockey could experience at least one time in their lifetime."

Oliver is hoping for more rain before Tuesday believing it will boost The Offer's chances.

"He's a bit of an outside chance but if it rains it really brings him into the race," he said.