Melbourne Cup 2020: Prize Money, Trophies & Wagers

Last Updated 12 Aug 2020 | Commercial content | 18+

The Melbourne Cup is appropriately known as ‘The Race That Stops A Nation’. With such great influence throughout Victoria, it’s been declared a public holiday throughout the province.

The Melbourne Cup brings in the high rollers annually to claim their part of the stake that Lady Luck shares by predicting the winners. Punters from all over the world follow every news article and horse report – all in preparation for placing a successful bet.

Most Recent Prizes at the Melbourne Cup

You’ll be happy to know that everybody can share in the magic. You can place smaller bets at thousands of booking sites from wherever you are in the world. The biggest win at the 2019 Cup was a $20,000 bet that paid out an unbelievable $290,000.

But it’s not only gamblers that have a lot to gain at the Melbourne Cup 2020. This year’s prize money has marked this event once again as the world’s richest handicap race, and placing it 5th overall as the highest paying horse race on the planet. The top-paying horse race is the Pegasus World Cup at a staggering $12 million.

Racing Victoria has managed to gather together a whopping $8 million in total prize money. Before July, it was still standing at $7.3 million. We give you a glimpse of what’s at stake this year.

Placing:Prize Money:
First$4,400,000
Second$1,100,000
Third$550,000
Fourth$350,000
Fifth$230,000
Sixth$160,000
Seventh$160,000
Eight$160,000
Ninth$160,000
Tenth$160,000
Eleventh$160,000
Twelfth$160,000

Division of the Melbourne Cup Prize Money

The winner receives $250,000 in prize money for everybody that’s involved in getting the thoroughbred over the winning line. That includes the owner, jockey, trainer, strapper, and the breeder.

The jockey is entitled to 5% of the winning sum. So the winner for the Melbourne Cup 2020 will receive a paycheck of $220,000 for a day’s work. That’s not a small sum for a few minutes in the saddle, but it takes years of dedication to stand a chance.

Prizes at the Melbourne Cup 2020

The trainer will receive double that amount, and their paycheck for the day will be $440,000. Understandably, they get more as the higher level of input and time spent with the horse is considerable.

The other connections to the winning horse take home the remaining 85% of the prize money, which amounts to $3,740,000. While this term typically refers to the owner and the trainer, it can include the various other parties involved in the horse’s race career. Sometimes the veterinarian responsible for the thoroughbred’s health and well-being also gets a cut.

Whether you’re placing your bet from a different country, or from the side of the racetrack on the 3rd of November, the Melbourne Cup 2020 is what makes dreams come true for horse racing fans.

Final Words

Horse racing is a different form and art of gambling that can’t be compared to sitting around a high stakes poker table. It’s the tradition, the history, and the mystery surrounding those majestic thoroughbreds that are at the forefront of it all.

If you’re not a regular at the races, don’t let it hold you back. Read what the pros are saying and place a few smaller bets on different favourites and horses you fancy. You’ll never know until you try, so happy betting at the next Melbourne Cup.