The Melbourne Cup is Australia’s second richest race each year with the introduction of The Everest now holding the title as the richest race with prize money for the race totalling $14 million dollars.
The prize pool is split into ten different sums for the first ten horses to cross the finish line in the race.
Read more about Australia’s Richest Race The Everest
The amount on prize money is so great in the Melbourne Cup that finishing tenth gets connections, jockey and trainer $160,000 which is as good as winning many Listed or Group races during the year.
On top of the prize purse on offer the winning connections will collect a 18ct solid gold Hardy Brothers trophy valued at $250,000. If you wan’t to know more about the Melbourne Cup checkout our dedicated Cup page.
Melbourne Cup Prize Money Breakdown
| Finishing Position | Prize Money |
|---|---|
| 1st | $4,400,000 |
| 2nd | $1,10,000 |
| 3rd | $550,000 |
| 4th | $350,000 |
| 5th | $230,000 |
| 6th | $160,000 |
| 7th | $160,000 |
| 8th | $160,000 |
| 9th | $160,000 |
| 10th | $160,000 |
| 11th | $160,000 |
| 12th | $160,000 |
Melbourne Cup Jockeys Prize Money
Have you ever wondered how much the jockey earns after winning the Melbourne Cup? You might be surprised to learn that Cup winning jockeys will earn over $200,000 for their winning ride.
Jockeys are entitled to 5% of the prize money earned and will usually also receive a small amount for booking the ride.
While the race horse owners are entitled to keep the Melbourne Cup trophy, jockeys are presented with a miniature cup which is worth $10,000.
Melbourne Cup Trainers Prize Money
Melbourne Cup trainers are entitled to 10% of the prize money won by the horse. This means a winning trainer will earn a remarkable $320,000 for hard work preparing the horse to be in the best shape possible.
On top of their prize money a winning trainer will also receive a miniature Melbourne Cup trophy worth $10,000.
How much is the Melbourne Cup Trophy worth?
The Melbourne Cup trophy is one of the most prestigious and recognisable trophy’s in world sport. The trophy is made from 18-carat gold and is awarded to the winning owner first placed horse.
The Melbourne Cup Trophy is worth a staggering $250,000 on top of the other $14 million in prize money.
The winning trainer and jockey are presented with smaller versions of the Melbourne Cup which are valued at $10,000 each. The strapper of the winning horse also receives a trophy worth $5,000.
Melbourne Cup Prize Money History
While the Melbourne Cup has always been a prestigious event it hasn’t always been as rich as it is today. It’s commonly reported that the very first Melbourne Cup, won by Archer in 1861, was worth £710 which was paid in the form of 710 gold sovereigns. The prize also included a gold watch for the winner.
You may think that the value of the Melbourne Cup has only grown over it’s long history but that hasn’t always been the case. During WWII the prize was reduced and winning owners reportedly received war bonds valued at 200 pounds.
In 1985 the race became the first in Australia total $1 million in prize money. By the time 2001 came around the Cup offered a massive $4 million in prizes and the trophy itself was changed from 9-carat gold to 18-carat gold.
In 2019 the total prize money exceeded a staggering $8 million.
What is first prize in the Melbourne Cup?
First prize for the Melbourne Cup in 2024 is $4,400,000.
How much prize money does the jockey get for winning the Melbourne Cup?
Jockeys are entitled to 5% of the prize money earned and will usually also receive a small amount for booking the ride.
