9 December 2022

Melbourne Cup Prize Money 2022: How Much Will The Winner Earn?


The Melbourne Cup is undoubtedly one of the most popular sporting events in Australia and is often regarded as “the race that stops the nation.” The Melbourne Cup takes place on the first Tuesday of November, which in 2022 means it will take place on Tuesday 1st November.

With it being the richest “two-mile” handicap horse race in the world, naturally, prize money for the winning horse at Melbourne Cup is high. In 2022, the total prize money purse stands at $8 million, which is shared between the first 12 horses past the post.

But how much prize money does the winning horse get at Melbourne Cup? Read on to find out.

How much does the Melbourne Cup winner earn?

Melbourne Cup 2021 winning horse, Verry Elleegant. Image: @flemingtonvrc

Total prize money for Melbourne Cup in 2022 is $8 million. This has been the total amount of prize money available since 2019. Prize money is broken down as follows:

  • Winner – $4.4 million
  • Second place – $1.1 million
  • Third place – $550,000
  • Fourth place – $350,000
  • Fifth place – $230,000
  • Sixth to twelfth place – $160,000

Officially, 85 percent of the prize money goes to the owner of the winning horse ($3,740,000), 10 percent goes to the trainer ($440,000) and 5 percent goes to the winning jockey ($220,000).

Melbourne Cup trophies

$250,000 worth of trophies are also presented to the winning horse. The winning owner gets their own trophy and the winning jockey receives a trophy and the Harry White whip. Trophies are also presented to the winning trainer, winning strapper (known as the Tommy Woodcock trophy) and the breeder also receives a trophy.

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The trophy presented to the winning owner is known as the Loving Cup and is made from 18-carat gold. A new winning trophy is produced each year, and a second is also made in case the Melbourne Cup finishes in a dead heat.

When is the Melbourne Cup 2022?

The 2022 Lexus Melbourne Cup will take place on Tuesday 1st November, 2022.

Where is the Melbourne Cup 2022?

Flemington racecourse has hosted the Melbourne Cup every year since 1861.

The 2022 Melbourne Cup takes place at the Flemington Racecourse in Melbourne, Victoria. It has been held at Flemington Racecourse since the first race took place in 1861.

Has the Melbourne Cup ever been cancelled?

No, the Melbourne Cup has never been cancelled in its entire 162 year history (including 2022). There have been occasions where the race could have been cancelled due to heavy rain flooding the course, but this has never happened.

Even during the Covid-19 pandemic in Australia, the Melbourne Cup wasn’t cancelled. The Melbourne Cup 2020 race did still go ahead during the pandemic, but the public and horse owners weren’t allowed to attend.

The Melbourne Cup has been postponed on just two occasions. Once in 1870, where it was postponed by a week and again in 1916 when it was postponed until the following Saturday.

Who won Melbourne Cup 2021?

2021 Melbourne Cup winning jockey James McDonald. Image: @flemingtonvrc

The 2021 Melbourne Cup was won by the New Zealand-bred Australian-trained Thoroughbred Verry Elleegant, ridden by James McDonald and trained by Chris Waller.

Verry Elleegant also won the 2020 Caulfield Cup.

Melbourne Cup fashion

Part of the Melbourne Cup’s appeal is it gives Australians the chance to dress all fancy. For men, it’s a chance for their group of guys to suit up, whether it be using separates – a blazer and trousers – or a fully-fledged two-piece suit.

Be sure to read our complete guide on what to wear to the races in 2022.

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