Lexus Melbourne Cup prizemoney increases to $10 million

The increase recognises the achievements of every starter in the Lexus Melbourne Cup by paying $100,000 from 13th to 24th place and will be complemented by new golden ticket races.

The Group 3 Geelong Cup (2400m) and Group 2 Moonee Valley Gold Cup (2500m) have been added to the list of ballot-exempt races, meaning the winners will earn a guaranteed start in the race that stops a nation®.

Under a new prizemoney structure for the 2025-2026 racing season at Flemington, total prizemoney for the four-day Melbourne Cup Carnival will increase to $32.5 million from $30.6 million after the minimum prizemoney level was lifted for all Group and Listed races to $200,000.

Changes outside of Cup Week include a suite of three, $2 million Group 1 races across the Flemington Autumn Carnival with the Yulong Newmarket Handicap (1200m), The All-Star Mile (1600m) and the TAB Australian Cup (2000m) now all at $2 million prizemoney.

The Victoria Racing Club (VRC) Chief Executive Officer, Kylie Rogers said the prizemoney adjustments were a significant boost for VRC’s racing program at Flemington and important to the industry as a whole.

“The Lexus Melbourne Cup is unrivalled for its history, status and reach and the VRC is proud to be able to now reward every local and international participant in the great race,” Ms Rogers said.

“It reflects the significant effort required to prepare and qualify for the Lexus Melbourne Cup and goes hand-in-hand with a decision to add additional qualifying opportunities through the Geelong Cup and Moonee Valley Gold Cup.

“Cup Week adds more value to the economy and the racing eco-system than any other racing carnival in the country, contributing around 10 per cent of the annual wagering turnover across the state.

We thank Racing Victoria for its support to lift minimum prizemoney across the week, which will continue to attract the best horses, jockeys and trainers from Australia and across the world.

“In line with the club’s significant improvement in its financial position this year together with a forecast to increase again in season 2025-2026, the VRC has made a considered decision to increase its returns to participants.

“Planning for the 2025 Melbourne Cup Carnival is in full swing, and this is just one of a number of exciting announcements that build momentum towards the world’s greatest racing event.”