Ballarat trainer Mitchell Freedman is daring to dream that Ho Ho Khan can make his backers merry in the Group 1 Sydney Cup next month.

And if the seven-year-old puts in a strong performance in the Australian Cup (2000m) at Flemington on Saturday, Freedman might start to believe a fairytale could be possible in the prestigious 3200m race on April 9.

“We're trying to use this (the Australian Cup) as a building block to the Sydney Cup, following a freshen-up from Tasmania,” Freedman told HorseBetting, referring to Ho Ho Khan's victory in the Hobart Cup on February 13, followed by a runner-up finish in the Launceston Cup on February 23.

“We're disappointed he didn't get the double (in Tasmania), but he was very good in the Hobart Cup.

“We're aiming him for the Sydney Cup, where we feel he can be competitive.

“He was also competitive in Hong Kong.”

That was where Ho Ho Khan ran from June 2018 to May last year, a highlight being a victory in the $353,063 Rating 100 over 1800m on January 20, 2019 – his third-straight win at Sha Tin.

It appears the stayer has a massive task ahead of him going into the AU$1.5 million feature at Flemington on Saturday.

On Thursday, Freedman's runner with over $1.6 million in prizemoney was given generous odds of +4000 to win by Bovada.

And the task to run down Kerry Parker's Think It Over – on what should still be a good track despite torrential rain – appears a steep one.

Parker's reigning Yulong Hill Stakes and Rosehill Gold Cup champion had odds of +200 on Thursday, with star hoop Nash Rawiller aboard.

“It's a big step up and Think It Over is the one to beat,” Freedman said.

“(But apprentice jockey) Tahlia Hope knows the horse well.

“We'll keep things nice and simple, and with a strong finish we can push for a fifth or sixth.”

When asked whether a softer track would help his horse's chances, Freedman said: “Yes. But I doubt that will happen with the terrific way tracks are presented these days.”