The Melbourne Cup, also known as “the race that stops a nation”, and This high-stakes horse racing event takes place at Flemington Racecourse in Victoria. In keeping with the status of the race, the Melbourne Cup 2024 will offer an amazing prize fund and the prestigious Melbourne Cup trophy.
How Much do Jockeys get Paid: Melbourne Cup Prize Money Breakdown
Below you’ll find the prize money awarded to the winning horse and runners up of the Melbourne Cup. The total prize money on offer for the upcoming Melbourne Cup 2024 is $8,410,000.
| Melbourne Cup Finishing Position | Amount Won |
|---|---|
| 1st | $4,400,000 |
| 2nd | $1,100,000 |
| 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 |
How is Melbourn Cup Prize Money Distributed?
The Melbourne Cup prize distribution is 85% to the owner, 10% to the trainer and 5% to the jockey. This means that, for the racing event’s winning horse, the owner receives $3,740,000, the trainer receives $440,000 and the jockey receives $220,000.
Melbourne Cup Early history
When the Melbourne Cup was first run in 1861, it was one of the richest races in Australia. In fact, the race was a Cup race in name only because the winning owners did not receive a Cup. In the early years, the prizes included a gold watch and a share of a cash purse. The successful connections first received a cup in 1865. The trophy was given the title of the Flemington Hunt Club Cup.
The race has been incredibly important in Australia since its infancy, which was reflected in the prize fund and the fact that the race day was declared a public holiday in 1877. In 1975, the race date changed to the first Tuesday in November and this is still the case today. Historical records indicate that the first race in 1861 was worth £710 which was paid in the form of gold sovereigns. The prize also included a gold watch for the winning owner.
Top Melbourne Cup Bookmakers
See below our top bookmakers for the Melbourne Cup 2025
| Bookmaker | Review | Visit Site |
|---|---|---|
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Melbourne Cup Prize Money Growth
The Melbourne Cup is a handicap race run over two miles which has become an incredibly important contest both in Australia and around the world. The prizes for the first winner in 1861 made the race one of the richest in Australia. The prize fund has steadily grown over time and kept up with the other main races in Australia. However, other matters in history have previously affected the wealth of the race.
For example, the Melbourne Cup was run during World War II. However, the prizes for the race were reduced to such an extent that the winning owner received just £200 in the form of war bonds.
There have been several significant milestones in the history of the Melbourne Cup and the financial rewards for winning the race. The 1985 Melbourne Cup was the first race in Australian racing history to offer $1,000,000 AUD in total prize money. By the year 2000, the total prize fund had increased to $4,000,000 AUD. The Melbourne Cup trophy has also changed from a 9-carat gold item to one with 18-carats.
Melbourne Cup 2024 Prize Money
The Melbourne Cup 2021 is the second richest race in Australia after The Everest. The prize fund has grown to to $8,410,000 AUD. The winning and placed horse now share in a prize fund that has doubled over couple of decades. There has been a global increase in prize money for elite races and it’s likely this trend will only continue.
In addition to the prize money, the Melbourne Cup 2024 also offers trophies worth $250,000 AUD. The first 12 horses win a portion of prize money, with the winner’s connections bagging $4,400,000 AUD. The horse that finishes in 12th place earns $160,000 AUD for the connections, a prize that’s certainly not to be sniffed at.
In an attempt to attract international runners, the Melbourne Cup also offers a $500,000 AUD bonus for any horse that wins the race and the Irish St Leger in the previous September.
Melbourne Cup Recent Winners
Here is the list of the Melbourne Cup winning horses, trainers and jockeys of each race over the last 10 years.
| Melbourne Cup Year | Winning Horse | Winning Trainer | Winning Jockey |
|---|---|---|---|
| 2023 | Without A Fight | Anthony Freedman | Mark Zahra |
| 2022 | Gold Trip | Ciaron Maher | Mark Zahra |
| 2021 | Verry Elleegant | Jame McDonald | Chris Waller |
| 2020 | Twilight Payment | Joseph O’Brien | Jye McNeil |
| 2019 | Vow And Declare | Danny O’Brien | Craig Williams |
| 2018 | Cross Counter | Charlie Appleby | Kerrin McEvoy |
| 2017 | Rekindling | Joseph O’Brien | Michelle Payne |
| 2016 | Almandin | Rob Hickmott | Ryan Moore |
| 2015 | Prince of Penzance | Darren Weir | Damien Oliver |
| 2014 | Protectionist | Andreas Wohler | Brett Prebble |
Melbourne Cup Prize Money FAQs
Which barrier is most likely to lead to a trophy?
There is no golden barrier to guarantee a win, but two of the last three have come form barrier 2. Here are Melbourne Cup winning barriers of each race over the last 10 years:
| Melbourne Cup Year | Melbourne Cup Barrier |
|---|---|
| 2023 | Barrier 2 |
| 2022 | Barrier 14 |
| 2021 | Barrier 2 |
| 2020 | Barrier 12 |
| 2019 | Barrier 21 |
| 2018 | Barrier 19 |
| 2017 | Barrier 4 |
| 2016 | Barrier 17 |
| 2015 | Barrier 1 |
| 2014 | Barrier 11 |
Other than the Melbourne Cup, what other rich horse races are there?
While the Melbourne Cup is one of the most well-known horse racing events, there are other high-stakes races you might want to check out.
The Saudi Cup, which was run for the first time in 2020, is the richest horse race in the world and in horse racing history. It offers a total prize fund of $20 million, half of which goes to the winner.
The Dubai World Cup was pushed into second place by the Saudi Cup, offering $12 million in prize money.
Despite being the richest turf race in the world, The Everest ranks third in this list.
What has the Melbourne Cup prize money been in recent years?
The amount of money awarded to the winners of the Melbourne Cup in recent years is as follows:
| Melbourne Cup Year | Amount of Money Awarded (AUD) |
|---|---|
| 2023 | $8,410,000 |
| 2022 | $8,000,000 |
| 2021 | $8,000,000 |
| 2020 | $8,000,000 |
| 2019 | $8,000,000 |
| 2018 | $7,300,000 |
| 2017 | $6,200,000 |
| 2016 | $6,200,000 |
| 2015 | $6,200,000 |
| 2014 | $6,200,000 |
| 2013 | $6,200,000 |
| 2012 | $6,200,000 |
| 2011 | $6,175,000 |
Read the latest news about the Melbourne Cup 2024.
