Melbourne Cup Prize Money now $5.5 Million
This year, the Melbourne Cup will have much more at stake than in 2007, a staggering $500 000 more. As one of Australia’s most respected and richest races, being second in the world to the Prix de l’Arc de Triomphe in France, it is the first increase since 2005, when the prize money was raised from $4.5 million, to $5 million. The increase has raised the stakes for all top ten positions in the Melbourne Cup, with the winner walking away with $3.3 million.
The increase in prize money in 2005 was brought about because of it being the first year that the Melbourne Cup was sponsored by Emirates Airlines. The motivation behind the VRC approving the ten percent increase for this year is due to their determination and dedication to the Melbourne Cup remaining on the international stage. Even the gold trophies that are to be handed out this year, have increased in value due to the rising gold prices, making the 2008 Melbourne Cup a richer racing event all round. On the heels of the Melbourne Cup, are two other spectacular Australian racing events. The Cox Plate comes in with a purse of $3.14 million and the Golden Slipper has a purse of $3.5 million.
It is hoped that the disappointment of last year, with the outbreak of equine influenza, will be forgotten and that the magnificent international horses that were absent at the 2007 Melbourne Cup, will return this year. The increased purse and the anticipated declaration that the equine influenza is no longer a threat in Australia, is expected to attract horses from America and Japan, back to this prestigious horse racing extravaganza.
No other suggestions have been discussed in regard to the anticipated increase of purse money for the hundred and fiftieth running of the Melbourne Cup, which takes place in 2010. Many in the horse racing community speculate that there will be a surprise in store for everyone, but for now, the Melbourne Cup remains on top of the international racing community, with its history of spectacular racing and a handsomely increased purse amount. Once again, it is predicted that the best horses will be seen in live racing action, and that the Melbourne Cup will again thrill and entertain spectators across the globe.