Thousands of spectators watched the first Speed Boat Races on Boxing Day, 1950, from the foreshore.
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In 1954, the Victorian Speedboat Club organized a two-day event, beginning on New Year’s Day. Entrants travelled from all over Victoria, and even Sydney.
Many boats reached speeds of over 100km/hr.
To further attract tourists and entertain locals, Yarrawonga hosted an Aquatic Festival, which included a Float Parade along Belmore Street. The inaugural festival was held in 1957, the street being lined by thousands of enthusiastic spectators.
Many boats in this parade were later competing on Lake Mulwala.
The 2022 EC Griffith Cup Carnival on April 22-24 will see Lake Mulwala host a full schedule of races for a variety of classes of boats over a three-day event.
The Grand Prix Hydroplanes can travel over 280 km/hr.