The second iteration of the event is sure to be bigger and better than 2018, as Ballarat Triathlon Club President Dale Coutts is expecting even more competitors in the 2000 metre race.

"Entries are ticking along really well," he said.

"All systems are a go for this year - we've even got Steve Moneghetti racing, so that'll be fun to see him swimming across the lake rather than running around it," Coutts laughed.

Halliday only entered the 2018 race two days ahead of the event on a whim, as he was returning to his home town from Melbourne to see family.

Winning the inaugural event meant a lot to Halliday.

"Being from Ballarat - it's a big deal. It's one thing to say I've swum in the lake, it's another thing to say I finished first," Halliday said. 

Coutts believes having a inland swim like Swim to the Rings is vitally important to promote swimming and for Ballarat athletes.

"It means we can promote our sport and our local athletes don't have to travel all over the place."

Lake Gardens multi-sport athlete Darcy Williams finished sixth overall in 2018 and has his eye's firmly set on the top spot. The 15-year-old finished 35 seconds behind Halliday.

Having swum in the lake multiple times, Williams is hoping he benefit from the home ground advantage.

"It is good to have an event like this right outside our front door," he said.

Coutts is expecting Williams to be among the race leaders once again.

"Darcy is a great swimmer, I wouldn't be surprised if he's in the mix at the pointy end of the race," he said.

Williams had been swimming competitively from the age of six before making the switch to multi-sport competitions like the duathlon and triathlon.

Williams fell in love with multi-sport after his dad took him to a Ballarat Ironman Event.

The intensity and endurance aspects of the sport is what Williams loves most.

"I like that they are challenging," he said.

"I like challenging myself and pushing my body to the limit, that's the best bit I guess."

Williams has already had tremendous success in 2019, finishing second in the National Duoathalon Championships along with a number of other podium finishes.

Looking forward, Williams has his sights set on a singular goal for his racing career.

"The ultimate goal is to go to the Olympics and represent Australia," he said.

"I want to travel around the world, training, racing and doing what I love."

The 2019 Swim to the Ring will kick off from 9.45am on Sunday morning at Lake Wendouree.