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 $20 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
There has never been a more rewarding time to contest the Melbourne Cup, with connections of all 24 runners now guaranteed a minimum of $100,000 under the 2026 race conditions.
On top of the prize purse on offer the winning connections will collect the owner trophy, valued at A$1.02 million under the 2026 race conditions. 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 | $4,500,000 |
| 2nd | $1,110,000 |
| 3rd | $560,000 |
| 4th | $360,000 |
| 5th | $240,000 |
| 6th | $160,000 |
| 7th | $160,000 |
| 8th | $160,000 |
| 9th | $160,000 |
| 10th | $160,000 |
| 11th | $160,000 |
| 12th | $160,000 |
| 13th-24th | $100,000 |
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 trophy package valued at A$34,500, including the Harry White Whip.
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 $450,000 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 trainer trophy valued at A$25,500.
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.
For 2026, the owner trophy is valued at A$1.02 million on top of the A$4.5 million first prize. The rider trophy package is valued at A$34,500, the trainer trophy at A$25,500, and the strapper and breeder trophies at A$15,000 each.
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 2026 the race offers A$9.09 million in prize money and A$1.11 million in trophies.
What is first prize in the Melbourne Cup?
First prize for the Melbourne Cup in 2025 is $4,500,000.
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.
