The 2026 Melbourne Cup is worth $10.2 million, with $4.5 million in prize money and more than $1 million in trophies going to the winner at Flemington on Tuesday, 3 November.
The Victoria Racing Club’s official race conditions list the 3200m handicap as $9,090,000 in prize money plus $1,110,000 in trophies.
The total is up from $10 million in 2025, Nine reported, keeping the Cup as the world’s richest handicap.
Melbourne Cup prize money by finishing position
- 1st: $4,500,000 plus trophies valued at $1,110,000
- 2nd: $1,110,000
- 3rd: $560,000
- 4th: $360,000
- 5th: $240,000
- 6th to 12th: $160,000 each
- 13th to 24th: $100,000 each
That means every horse in a full field of 24 that finishes the race earns at least $100,000.
The VRC also pays $100,000 to the connections of a horse that starts but does not finish, is scratched at the barriers or declared a non-runner by the stewards, or is withdrawn on veterinary advice after the final field is declared.
Read more: Melbourne Cup Winners: Every Winner Since 1861 and Race Records
How the winner’s share is split
The $4.5 million first prize is shared between the winning owners, trainer and jockey. According to Nine, the owners take 85 per cent ($3.825 million), the trainer 10 per cent ($450,000) and the jockey 5 per cent ($225,000).
The trophies are valued at $1,020,000 for the owner, $34,500 for the rider (including the Harry White Whip), $25,500 for the trainer, $15,000 for the strapper (the Tommy Woodcock Trophy) and $15,000 for the breeder, according to the VRC conditions.
Field still taking shape
Final acceptances for the Cup close at 4.30pm AEDT on Saturday, 31 October, with the barrier draw to follow at Flemington after the last race on Victoria Derby Day.
Read more: Melbourne Cup Vet Checks: Defiantly, Vauban Among Five Not Cleared
Japanese stayer Stinger Glass and Ciaron Maher’s Saint George have already been withdrawn on veterinary advice, while 2025 winning jockey Jamie Melham will ride Future History as she bids to win back-to-back Cups.
Gamble responsibly. For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au.
More News
