What you should know about vote of a lifetime

Scotland's First Minister Alex Salmond has billed the vote as a once in a lifetime chance. Pic: AP. Source: AP

Unicorns, whisky and redheads. Things that make Scotland awesome

Independence movements around the world have gained renewed momentum as Scotland rethinks its position in the United Kingdom.

IT'S been billed as the vote of a lifetime - which is actually living up to expectations.

The polls have opened and just under 4.3 million Scots are giving their answer to a simple question: Should Scotland be an independent country?

RUNNING HOT: Emotions high before independence vote

The one-off referendum is the culmination of years of campaigning and could change the world map in more ways than one.

In case you've been living at the bottom of Loch Ness, here's what you need to know:

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WHY NOW? Today's vote is the culmination of a lengthy campaign spearheaded by Scottish National Party leader and Scotland's First Minister Alex Salmond who has been a passionate supporter of independence.

Do the ayes have it? Scots will take to the polls today. Source: AFP

BIZARRE AND HILARIOUS OMENS PREDICTING SCOTTISH VOTE

The date of the one-time binding referendum was decided in March last year and comes after 16 weeks of campaigning from the Yes Scotland camp against Better Together who have both made their case to the public. It will take place under strict oversight from the Electoral Commission with a result expected sometime tomorrow evening Australain time.

WHO GETS TO VOTE? The vote is open to any British or Commonweatlh citizen living in Scotland that has leave to remain in the country. The key difference for this referendum is that people can vote at age 16 rather than 18.

Controversially, the estimated one million Scots living outside Scotland won't get a say. The tight race means it's estimated 97 per cent of the population, or just under 4.3 million people will turn out.

Polls are too close to call and the referendum is expected to have record turn out. Picture: Getty. Source: Getty Images

WHEN DOES IT ALL KICK OFF? Polling booths open at 7am in Scotland which is 4pm AEST. They close at 10pm local time, or 7am Friday morning AEST, with counting to begin immediately.

WHAT ARE THE ARGUMENTS? Both sides have a strong case for and against independence with complex arguments either way. However much of the narrative around the vote has revolved around a "head versus heart" situation. Does the goal of freedom outweigh the economic uncertainty of going it alone?

Unionists in Glasgow on the final day of campaigning. Picture: Getty. Source: Getty Images

The 'Yes' camp argue Scotland will be much better off without politicians in Westminster lording it over them, providing greater autonomy to decide on things like their healthcare system, VAT (the UK version of GST), welfare payments and defence policy. It also argues they will be richer due to large oil reserves in the North Sea that will come under Scottish control.

However 'Better Together' thinks the UK is one big family that Scotland should stay part of and claims the country will be worse off without payments from Westminster and access to UK markets. They've also said in the past Scotland will have to find their own currency and may not be granted automatic access to the EU, which could make life very difficult for Scottish businesses.

Freedom, money and oil have all been centre state in the debate. Source: AFP

WHAT HAPPENS AFTER THE VOTE? If it's a no then Scotland will continue as normal with devolved powers for the Scottish parliament at Holyrood and greater powers to the UK parliament in Westminster.

If the answer is yes then it that will trigger the 'starting gun' on a series of complex negotiations to extricate Scotland from the UK. This involves working out terms of everything from currency to welfare payments, NATO membership and where to keep Britain's nuclear missiles which are currently stored in Scotland. If all goes according to plan, the country would become independent in 18 months.

David Cameron has pledged greater autonomy for Scotland but begged them not to leave. Source: AFP

The prospect of a yes vote has led to financial market jitters this week which has weakend the pound as it is a great unknown. There is even talk it could lead to Prime Minister David Cameron's resignation as well as give inspiration to other separatists movements like those in Spain, Italy and Bosnia.

MORE: The vote that could change the world

It could also change the Union Jack permanently as this is a compositie of three flags although it won't change the Scots having Queen Elizabeth II as head of state.

HAS IT BEEN DONE BEFORE? Countries have been created by referendum before, the most recent example in Europe is Montenegro in 2006.

YEAH BUT WILL IT REALLY HAPPEN? The latest polls show independence would be rejected, 52 per cent to 48 per cent, while another poll shows the gap even closer at 51 per cent against to 49 per cent in favour. Undecided voters could make the difference on the day.

The close polling seems to have caught English politicians unawares, with Conservative leader David Cameron, Labour leader Ed Milliband and Liberal Democrat leader Nick Clegg all travelling to Scotland at the last minute to plead their case. They've also signed a document called "The Vow" pledging more autonomy for Scotland should they stay part of the union.

Cuckoo's Bakery has been holding a poll which shows the No has it. Source: Getty Images

The vote could mean a change to the Union Jack. Source: AFP

WHAT DO OTHER LEADERS THINK? Prime Minister Tony Abbott has spoken out in favour of the union, as has former US President Bill Clinton, while other officials have been treading a fine line between interference and making their preference for union clear.

Overnight President Obama also pleaded for Britain to remain "robust and united", joining people like David Beckham and Sir Bob Geldolf who have campaigned in favour of Better Together. Sir David Attenborough, Dame Judi Dench and Simon Cowell have also urged Scotland to stay.

Meanwhile other proud Scots have nailed their colours to the flag, with Sean Connery and actor Alan Cummings urging people to vote for independence.

Billy Connolly and Annie Lennox opted to stay silent while others still have turned to inane objects for prophetic signs.

Check back here tomorrow for updates on the vote or follow on Twitter under #indyref. For detailed analysis from the Scottish government check out their website here.

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