The Victoria Racing Club (VRC) has announced a boost of A$7.52 million dollars in prizemoney and bonuses for Australia’s most celebrated week of racing, the 2019 Melbourne Cup Carnival and Turnbull Stakes Day.
This prize pool boost is made up of funds from the VRC, Racing Victoria and the Victorian Government.
The VRC’s annual contribution to prizemoney and bonuses, in addition to industry allocations, now stands at $10.5 million. In June an uplift in prizemoney for the Lexus Melbourne Cup was announced. It will increase to A$8 million.
The broader injection of funds into the entire Melbourne Cup Carnival sees 16 races across all four days of Cup Week receiving additional prizemoney.
VRC Chairman Amanda Elliott said the prizemoney increases reaffirm the VRC’s commitment to the Melbourne Cup Carnival.
“Melbourne Cup Week is Australia’s premier social and sporting event. It is globally recognised and attracts the world’s best horses, trainers and jockeys.” Mrs Elliott added, “The significant prizemoney increases, which now sees the total prize pool reach A$27.6 million, underline the status of this world-class event. AAMI Victoria Derby Day is Australia’s greatest day of racing with nine Gr races including four Gr1s now worth A$1 million or more.”