Promising two-year-old Single Bullet will be a Sydney acceptor this week, but trainer Gary Portelli is still prepared to play a Magic Millions waiting game with the colt.

Rated unlucky on debut when runner-up in the Wyong Magic Millions, Single Bullet sits just outside the field for the $2 million Classic.

A Warwick Farm win on Saturday would guarantee Single Bullet a Magic Millions berth but Portelli said he would it be a tough call to commit the youngster to an interstate trip on a seven-day back-up for the Gold Coast race.

"I've got a bit of thinking to do over the next few days," Portelli said.

"As it stands now he would be an emergency for the Magic Millions and I'm not too sure if there are any horses above him who are not certain to run.

"I can leave him in at Warwick Farm right up to Saturday morning if I have to and take it from there."

Single Bullet missed the start at Wyong before taking a lot of ground off Madeenaty, the Victorian-trained filly who shares the second line of favouritism for the Magic Millions behind Saturday's Canterbury winner From Within.

"It's been pretty well documented what happened to him at Wyong," Portelli said.

"Perhaps it is an omen. Maybe he's meant to be a Golden Slipper horse instead of a Magic Millions one."

Portelli has secured Melbourne jockey Ben Melham to ride Single Bullet on Saturday.

"Ben is well aware of the situation, but he was happy to take the booking," Portelli said.

Melham has become a first-choice jockey for Portelli this season after they teamed up to win the Manikato Stakes with Rebel Dane and last month's rich Inglis Nursery with She Will Reign.

Portelli has one definite Magic Millions runner in Falconic.

Falconic locked up his Millions berth with a Christmas Eve win at Rosehill and he will be shooting for a special bonus at the Gold Coast.

Just like Single Bullet, Falconic is eligible for a lucrative incentive available to Magic Millions runners owned by women.