Towong Turf Club is clinging to the remote chance of having a replacement cup meeting this season after a last-minute call to abandon races on Saturday.
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An estimated 3000-plus people still converged on the iconic high country race track for a phantom meeting with the club foregoing the chance to race on Sunday.
Replacement dates are notoriously difficult to find in a jam-packed Victorian racing calendar.
"It was an outstanding result for a phantom meeting," club president Al Mackinnon said.
"We were given the option to race (Sunday), but it would have been a disaster for the club from a financial point of view.
"It would have been great to race, but we wouldn't have got much of a crowd.
"We have to look after the club and it was just tough luck to get that rain so close to the day.
"Hopefully it doesn't happen next year for the 150-year anniversary of the race."
The phantom race meeting crowd compared favourably with previous years with club officials appreciative of those who still attended and showed their support following the summer bushfires which had the track under threat in early January.
About 80mm of rain fell at the track east of Corryong on Wednesday and Thursday with sections of the track including the 300m mark deemed too wet to race following a Friday afternoon inspection by Racing Victoria stewards.
Mr Mackinnon said it was premature to be discussing the prospect of a replacement date in the 2019-20 calendar.
"It is just tough luck what has happened," he said.
"If people did cancel we would have to give their money back which is a scary thought for a little club like ours."
Country Racing Victoria chief executive Scott Whiteman doubted another race date could be found.
The Dederang Picnic race meeting will be held on Saturday with the club successful in an application to switch the meeting to a March timeslot following the abandonment of the January 2018 meeting due to extreme heat.
Dederang had a two-day rainfall last week of 157mm with stewards to carry out an inspection early in the week, but don't expect any repeat of the Towong situation.
The next major event in the Upper Murray is the Man From Snowy River Bush Festival next month.
