A crowd of about 1400 lines the shores of Lake Eppalock for the event hosted by the Derrinal-based Victorian Speed Boat Club.

VSBC commodore Ray Palmer said boat entries were spread across 13 categories for the one day event.

"We had about 58 entries including 15 juniors," Mr Palmer said. "Other boats ranged from 25 horsepower outboards. 1.6 litre hydroplanes to unlimited hydroplanes and displacements.

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The hydroplane boats can reach up to 270km/h as they race each other through a circuit on the lake.

The main prize of the day - the Lake Eppalock Gold Trophy - was won by Melton's Grant Harison in his boat GP1.

"He was in the unlimited hydroplane category, driving a 2400 horsepower grand prix hydroplane," Mr Palmer said.

"The boat has raced all around Australasia and won some of the sport's most major trophies and brought them back to Australia."

Other major prizes from the day included the Doug Smith Trophy and Norm Day Perpetual Trophy, which was run for the first time.

Father-son team Scott and Connor Patterson drove their Unlimited Displacement boat Turn It Up to victory in the Norm Day Perpetual Trophy while 105MPH baot Rev Limit driven by Ray Lindrea from Glenmaggie took out the Doug Smith Trophy.

Mr Palmer said the big crowd showed great support for the event, which he hopes to see grow in the future.

"This is our home ground and we love it here," he said. "We want to make the Eppalock Gold Cup one of our biggest events.

"We encourage more local support so we can make this bigger and better. The support this year has been sensational and part of the proceeds will go to flood victims.

"We struggle to get this done in one day, so we may turn it into a two-day event and will be reaching out the community help to us with that."

The Victorian Speed Boat Club will head to Yarrawonga in April to host the EX Griffiths Cup.

"That is the motor sport trophy in Australasia and has running since 1918," Mr Palmer said.

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