The total prize pool for the 2020 Melbourne Cup is $8 million, with the winner receiving $4.4 million.
The top 12 finishers all receive prize money, with sixth to 12th all taking home $160,000.
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The winner of the Melbourne Cup is also entitled to $250,000 worth of trophies, including to the owner, the jockey, the trainer, breeder and strapper.
HOW MUCH MONEY DOES THE MELBOURNE CUP WINNER MAKE?
The winner of the Melbourne Cup takes home a cool $4,400,000.
In 2020, that's Twilight Payment.
HOW MUCH PRIZE MONEY DO MELBOURNE CUP PLACE GETTERS MAKE?
Second place in the Melbourne Cup earns $1,100,000 and third place takes home $550,000.
Here's a breakdown of the prize money for the top 12 finishers.
| Place | Prize Money |
|---|---|
| 1st | $4,400,000 |
| 2nd | $1,100,000 |
| 3rd | $550,000 |
| 4th | $350,000 |
| 5th | $230,000 |
| 6th | $160,000 |
| 7th | $160,000 |
| 8th | $160,000 |
| 9th | $160,000 |
| 10th | $160,000 |
| 11th | $160,000 |
| 12th | $160,000 |
HOW IS MELBOURNE CUP PRIZE MONEY AWARDED?
The connections of the winning Melbourne Cup horse are entitled to 85% of the total prize money.
That leaves 5% for the jockey and 10% for the trainer.
HOW MUCH MONEY DOES A MELBOURNE CUP JOCKEY MAKE?
Jockeys are paid 5% of the total prize money of a horse for each race.
In 2020, that means the winner - Jye McNeil - pockets $220,000.
The second placed jockey makes $55,000 from the prize money, with third place taking home $27,500.
HOW MUCH MONEY DOES THE WINNING TRAINER MAKE?
The winning trainer of the 2020 Melbourne Cup will make $440,000, which is 10% of the $4.4million cheque.
The second place trainer will make $110,000 and the third placed trainer earns $55,000.
WHAT ARE THE RICHEST HORSE RACES IN THE WORLD?
The Melbourne Cup is right up there with the richest horse races on the planet, but it's not at the top.
In terms of total prize pools, here are the richest horse races in the world.
| Race | Prize Pool | |
|---|---|---|
| 1 | Dubai World Cup | $17.62million |
| 2 | The Everest | $12million |
| 3 | The Breeders' Cup Classic | $8.81million |
| 4 | Prix de l’Arc de Triomphe | $8.26million |
| 5 | Melbourne Cup | $8million |
| 6 | Kentucky Derby | $4.41million |
| 7 | Epsom Derby | $2.94million |