Racing Victoria has unveiled a revamped prize money structure for the 2025/26 season, headlined by record purses for its two marquee races—the Melbourne Cup and the Cox Plate—as well as a significant boost to grassroots maiden events.
In spite of recent commercial pressures caused by a sustained downturn in wagering turnover, RV has confirmed that prize money levels will not be reduced, instead announcing a bold reallocation strategy.
Under the new structure, the Melbourne Cup will rise to an unprecedented $10 million, while the Cox Plate will be run for $6 million in 2025—both becoming the richest editions in their storied histories.
The increases come alongside a $7 million uplift across maiden races, with $5000 added to every 1400 maiden event held at country tracks across Victoria as part of a bid to support the grassroots level of the industry.
Racing Victoria labelled the changes a “strategic re-alignment,” focused on maintaining the state’s leadership in feature racing while ensuring owners at the lower levels are also rewarded for their ongoing investment.