Melbourne Cup prizemoney to be paid from first to 24th after $10m race confirmed

There is extra incentive to have a runner in this year’s Melbourne Cup after Racing Victoria confirmed prizemoney for Australia’s most famous race will be boosted to $10m.

Racing Victoria has confirmed prizemoney for the Melbourne Cup will increase to $10m this year. Picture: Racing Photos via Getty Images

Racing Victoria has confirmed prizemoney increases for Australia’s most famous and best races.

Melbourne Cup prizemoney has officially increased to $10m with all starters to share in the bounty.

The Cox Plate has also been boosted to $6m – up from $5m – to mark the historic last weight-for-age championship on the traditional Moonee Valley Racecourse before a major redevelopment.

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Racing Victoria is set to confirm prizemoney schedule for the 2025-25 season on Thursday.

This masthead on Monday revealed the Melbourne Cup and Cox Plate prizemoney decisions.

VRC chief executive Kylie Rogers has welcomed the Melbourne Cup prizemoney increase.

“We are thrilled to finally be able to allocate the prizemoney the Lexus Melbourne Cup deserves,” Rogers said.

“It’s the ‘People’s Cup’ and frankly $10m allocated across all participants from one to 24 keeps the dream alive for all local, domestic and international participants.”

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Prizemoney historically for the Cup has been paid down to 12th place from $4.4m to $160,000.

While the status quo remains for the top half of the Cup field, from the first Tuesday in November this year 13th to 24th will each receive $100,000.

Last year the Melbourne Cup carried $8m prizemoney and a $750,000 18-carat gold three-handled trophy.

Rogers praised VRC chief racing officer Leigh Jordon for the new payment structure.

Prizemoney will be paid to every runner in the Melbourne Cup. Picture: Racing Photos via Getty Images

“It takes a lot to get to the Cup,” Jordon said.

“Spreading it right down to the bottom gives everyone a chance in the race domestically and I think internationally it will help a little bit too … it takes a bit to fly out here and participate in the Cup.

“It’s good for our grassroots participants here in Australia and New Zealand … it’s the People’s Cup and we want everyone to be able to run in it.”

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The VRC has also officially recognised the Geelong Cup and Moonee Valley Gold Cup as “win and you’re in” Melbourne Cup qualifiers.

“Geelong Cup and Moonee Valley Gold Cup have historically delivered, naturally, Melbourne Cup starters and so we thought we would richly reward them and formalise them as part of our golden ticket program,” Rogers said.

“Now we have a $10m Melbourne Cup with 10 golden tickets leading in.”

An industry-wide collaborated and approved “strategic reallocation” has allowed RV to maintain the overall prizemoney pool while also being able to boost select races from grassroots to elite level.

A reduction in All-Star Mile and Australian Cup prizemoney – now $2m from $2.5m last year – has boosted the Newmarket Handicap ($1.5m to $2m) and Melbourne Cup.

Originally published as Melbourne Cup prizemoney to be paid from first to 24th after $10m race confirmed