The winner of the 2018 Lexus Melbourne Cup will receive a cheque for a record $4 million under significant changes announced by the Victoria Racing Club (VRC) today.
The total prizemoney, including trophies, for the 2018 Lexus Melbourne Cup will increase to $7.3 million, up from $6.25 million in 2017.
The winner will receive $4 million (plus $250,000 in trophies), second place $1 million, and third place $500,000.
As part of the prizemoney restructure, prizemoney will be paid from 1st down to 12th. From 6th to 12th place, each will now receive $150,000.
In announcing these changes, VRC Chairman Amanda Elliott said, “The Lexus Melbourne Cup is the race that stops a nation. It is the world’s richest staying handicap and is backed by 158 years of history and tradition.
“The Lexus Melbourne Cup draws competitors from around the world. Winning the great race is on every owner, breeder, trainer and jockey’s bucket list, both locally and globally. This year the ‘holy grail’ not only offers more prizemoney to the winner, but it is now awarding prizemoney all the way down to 12th.
“A $7.3 million Lexus Melbourne Cup is a long way from the £930 winner-takes-all won by Archer in the first Melbourne Cup in 1861, and is a huge advancement on the first $1 million Cup in 1985.”
The VRC and Racing Victoria announced today a $1.05 million boost in prizemoney for the Lexus Melbourne Cup and $500,000 for the AAMI Victoria Derby.
“The AAMI Victoria Derby (2500m), now worth $2 million, is one of Australia’s oldest classic races, and boosting its prizemoney ensures the race will continue to attract the nation’s best staying three-year-olds,” Mrs Elliott said.
“2018 is a milestone year for the VRC. Anticipation builds for the opening of our new world-class Club Stand. We will celebrate the 25th anniversary of the first internationally trained winner of the Cup in Ireland’s Vintage Crop (1993). This year’s Lexus Melbourne Cup will have more eyes on it than ever before with the recent launch of the global digital platform, World Horse Racing, as we continue to expand our reach internationally. We simply can’t wait.”