Massive Prizemoney Boost For 2019 Melbourne Cup

Giddy up! The Victoria Racing Club (VRC) has announced it will increase prizemoney for the Lexus Melbourne Cup to $8 million in 2019.

That will make the 2019 Melbourne Cup the richest in the 158-year history of Australia’s greatest race.

The total prizemoney, including trophies, will increase to $8 million, up from $7.3 million in 2018. Of that, the winner receives $4.4 million plus $250,000 in trophies, second place $1.1 million and third place $550,000.

Prizemoney will continue to be paid from first place down to 12th. From sixth to 12th place, each runner will now receive $160,000, up from $150,000.

This is the first of a number of significant investments and initiatives the VRC has planned for the 2019 Melbourne Cup Carnival.

VRC Chairman Amanda Elliott said the prizemoney increases reaffirm the VRC’s commitment to the Lexus Melbourne Cup -- the jewel in the crown of Cup week and Australia’s most important race.

"At $8 million, the Lexus Melbourne Cup is the world’s richest handicap and the world’s richest staying race.

"It is the race every Australian owner, trainer and jockey wants to win and internationally, has become one of the most sought after prizes in world racing.

“Connections cannot buy a place in the Lexus Melbourne Cup, it has to be earned," Mrs Elliott added, in a clear dig at Australia's richest race, The Everest in Sydney, in which owners can buy slots for their horses.

Wow! It's increasing HOW MUCH? Image: Getty.

Mrs Elliott also noted the incredible reach of the Lexus Melbourne Cup, pointing out that last year's event was watched by more than 750 million people across 163 territories globally.

"We are excited to see the domestic coverage on Network 10 this spring following last year’s landmark media rights deal of $100 million," she added.

"The five-year agreement is the biggest in the history of the VRC, and we think the biggest in racing worldwide."

The 2019 Cup finis, with Cross Counter beating Marmelo and A Prince Of Arran. (Photo by Graham Denholm/Getty Images for the VRC)

Each year the VRC invests more than $55 million to stage Cup Week. Last year’s event generated a record $447.6 million in gross economic benefit to Victoria, which is unrivalled by any other Australian sporting event.

More than 300,000 attend the four days of the Melbourne Cup Carnival.

The Group 1 Lexus Melbourne Cup will be run at 3pm on Tuesday 5 November 2019, and will be covered on Network 10.

Network 10 is the official broadcaster of the 2019 Melbourne Cup Carnival.