Then there is the huge entry fees paid by owners to actually nominate horses for the race, of which only 24 are finally accepted to start. With assistance from the Emirates Airlines (major sponsor), and others, the Melbourne Cup of 2013 offered winning prize money totaling $6 million AUD plus $175,000 in trophies. To give you some idea of just how much the Melbourne Cup must generate each year, let’s look at a breakdown of the prize money for this years race 2013.
2013 Prize Money
First:$3,600,000, Second:$900,000, Third:$450,000, Fourth:$250,000,Fifth:$175,000, Sixth:$125,000, Seventh:$125,000, Eighth:$125,000, Ninth:$125,000, Tenth:$125,000
To put in context why the organizers and sponsors, Victoria Racing Club, the Victorian and Australian Governments may not want to tarnish the reputation of Australia’s greatest race by publicly making available statistics of Melbourne Cup related deaths one may have to look at the amount of tourism and local dollars it attracts.
This maintains the Melbourne Cup’s status as the world’s richest handicap race, and the single richest held on turf. .
To help appreciate the economics of winning the Melbourne Cup only two races in the world currently offer more prize money, the Dubai World Cup ($10,000,000 US)on a synthetic track, and the Japan Cup ($6,700,000 US)on grass
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