Betting Guide Β· Updated October 2026
Melbourne Cup Prize Money: Full Breakdown
The Melbourne Cup carries $10 million in total prizemoney β the world's richest handicap race. Here's the complete breakdown of where that money goes, what the connections of the winner actually take home, and how the Cup's purse stacks up against the world's great races.
01The $10 million purse, split
Since 2025 the Melbourne Cup has carried $10 million in total prizemoney β $9.09 million in cash plus $910,000 in trophies β making it the world's richest handicap. The winner collects $4.5 million in cash plus the famous 18-carat gold Loving Cup, valued at $250,000 and hand-crafted each year (the winning owner returns it after twelve months). Second earns $1.11 million, third $560,000, fourth $360,000, fifth $240,000, sixth through twelfth $160,000 each β and from 13th to 24th every runner now earns $100,000 just for starting. Every place also earns the connections valuable black-type that shapes a stallion's entire stud career.
02What the winner's connections earn
Of the winner's $4.5 million, the owner(s) receive 85% β $3.825 million β while the trainer takes 10% ($450,000) and the jockey 5% ($225,000, before riding fees and percentages to their support team). The winning connections also share $910,000 in trophies: the Loving Cup for the owner, replicas for trainer and jockey, the Tommy Woodcock Trophy for the strapper and awards for the breeder. Winning the Cup can transform a small syndicate: the 2015 winner Prince Of Penzance was owned by a group of friends including strapper Stevie Payne.
03How Cup prizemoney has grown
The inaugural 1861 Cup offered 710 gold sovereigns and a hand-beaten gold watch. The purse reached $100,000 in 1985 (What a Nuisance's Cup), $1 million by 1989, $3.3 million when Vintage Crop won in 1993, $5 million in 2005, $6.2 million in 2010, $7.3 million in 2018, $8 million from 2019, $8.56 million in 2024, and the current $10 million tier arrived in 2025. The 2025 increase also guaranteed every runner $100,000, and added the Geelong Cup and Moonee Valley Gold Cup as golden-ticket qualifiers. Even adjusting for inflation, the Cup's growth tracks the race's transformation from a local handicap into a global championship.
04The Cup versus the world's richest races
Globally, the Melbourne Cup's $10 million places it among the ten richest races in the world. Ahead of it: Saudi Arabia's Saudi Cup (US$20m), the Dubai World Cup (US$12m), and The Everest and Golden Eagle at A$20m and A$10m. But the Cup remains the world's richest handicap and the richest two-mile race on turf, and uniquely, all of it is offered on a single race with a 24-horse field, which is why the international staying division targets it every spring.
05Why Cup prizemoney matters for the breeding industry
A Melbourne Cup win is worth far more than the cheque. A stallion who wins or places in the Cup commands premium service fees for life; a Cup-winning broodmare's foals sell for multiples of their siblings' prices. The staying bloodlines the Cup rewards β the European Derby and Cup form lines β have reshaped Australian breeding, with shuttle stallions from Europe and Japan now cornerstones of the national sire roster. The $10 million is the headline, but the real prize is generational.
Frequently Asked Questions
How much does the Melbourne Cup winner get?βΊ
The winning connections share $4.5 million of the $10 million total purse, plus $910,000 in trophies. The owner takes 85% ($3.825 million), the trainer 10% ($450,000) and the jockey 5% ($225,000).
How much does a Melbourne Cup jockey earn?βΊ
The winning jockey receives 5% of the winner's prizemoney β $225,000 β plus a $25,000 replica trophy and the race-day riding fee, before percentages to their manager and valet.
What is the richest horse race in Australia?βΊ
The Everest at Randwick, with $20 million in prizemoney, is Australia's richest race and the world's richest turf race. The Melbourne Cup ($10 million since 2025) is the world's richest handicap and Australia's most famous race overall.
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