There will be 23 runners trying to win the Melbourne Cup prize money in 2024 – but just how much is on offer, how many of the finishers end up with a share of the purse and what will the winning jockey and trainer get?
The 2024 Melbourne Cup Prize Money Stands at $8m
As you can see from the Melbourne Cup prize money table for 2024 there is a staggering £2,352,941.18 on offer to the winning horse – which equates to around AUS$4,400,000.
With the difference between winning and losing Australia’s biggest horse racing contest a cool £1.764m with the second horse getting £588,235,000.
This means the 2024 Melbourne Cup horse will win almost as much as City Of Troy has during his whole career – he’s won £2.4m.
While the Melbourne Cup prize money for 2024 stands at £1.47m MORE than what’s on offer in the Epsom Derby (£882,000).
The third horse will take home £294,117.65, the fourth £187,165.78 and the fifth £122,994.65.
This year’s Melbourne Cup favourites with the best horse racing betting sites in the UK are the Willie Mullins-trained Vauban and the Chris Waller runner Buckaroo.
Melbourne Cup Prize Money Breakdown 2024
| Position |
Prize Money (£) |
Prize Money (AUS$) |
| 1st | £2,352,941.18 | $4,400,000 |
| 2nd | £588,235.29 | $1,100,000 |
| 3rd | £294,117.65 | $550,000 |
| 4th | £187,165.78 | $350,000 |
| 5th | £122,994.65 | $230,000 |
| 6th-12th | £85,561.50 | $160,000 |
If viewing the Melbourne Cup in the UK or Ireland the race time will be 4am on Tuesday 5th November.
The Melbourne Cup Prize Money Goes Right Down To The 12th Placed Horse
The good news for any owner of a Melbourne Cup runner in 2024, is that the prize money goes right down to 12th place.
With the horses that finish 6th to 12th all getting £85k – not bad for a race that will take just over three minutes to run.
Melbourne Cup 2024 Details and Date?
📅Date: Tuesday 5th November 2024
⌚Time: 4:00am (GMT)
🏇Racecourse: Flemington Park (2m)
💰Winning Purse: £2,352,941
📺 TV: Sky Sports Racing
How Much Will The Melbourne Cup Winning Jockey Get?
In addition to their riding fee, winning the Melbourne Cup will also mean a mega-payout for the winning jockey.
The jockey that guides home the first past the post can expect to take around 5% of the winning purse – which would equate to approx. £117k.
While riders will also win a percentage of the place money, should they finish in the top 12.
How Much Will The Melbourne Cup Winning Trainer Get?
The Melbourne Cup winning trainer will also be laughing all the way to the bank – as they will take a 10% cut of the prize money too.
This means the winning stable will be looking at a cool £234k for training the 2024 Melbourne Cup winner.
2023 Melbourne Cup Winner Without A Fight Won £2.4m
12 months ago in 2023, the Anthony & Sam Freedman-trained Without A Fight won the ‘Race That Stops A Nation’ and in the process landed £2,485,875.71 in Melbourne Cup prize money – which is slightly more than what’s on offer to the winner in 2024.