Up to 5000 people will be at Ballarat Racecourse today despite new COVID-19 restrictions allowing full capacity in venues across the state.

The feelings of excitement and relief were palpable as punters filed into the racecourse in what is one of Ballarat's first large-scale gatherings since restrictions eased.

Ballarat resident Kate Westbrook said it was great to be back around people again and perfect timing for the eased restrictions to kick in.

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"It's really great just to be amongst other people and also for it to finally turn on a bit of nice weather as well has been good," she said.

"It's always a big event for our family, we love racing, so it's good to be back here as well."

After being trapped in Melbourne for much of this year, Brunswick resident Damien Moyse took advantage of the nice weather and made his first trip outside the city in six months to attend the cup for the first time.

"It's good. Sun's out, it's fantastic, great to see people out and it's good to be out in the countryside, out of the city," he said.

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