The prize pool for the Melbourne Cup is AUD$8.075 million.
This includes AUD$7.75 million in cash and a number of trophies worth a total of AUD$325,000.
abc.net.au reports that these include the famous main "Loving Cup" for the winning owner, and trophies for the winning jockey, the winning trainer, the strapper who prepares the winning horse and to the breeder.
The first 12 horses across the line will earn prize money.
The breakdown: 1st AUD$4.4 million, 2nd AUD$1.1 million, 3rd AUD$550,000, 4th AUD$350,000, 5th AUD$230,000, 6th-12th AUD$160,000.
Three per cent of all prize money is deducted and directed to equine and jockey welfare.
Meanwhile two of the top three horses in the market for today’s Melbourne Cup are a bit of a mystery, as they have not raced in Australia prior to the race.
The favourite is English thoroughbred Deauville Legend, training in England by James Ferguson. Deauville Legend won the Great Voltigeur Stakes over 2,385m at York in August.
Behind him is another English galloper, the Irish-bred Without A Fight, trained by Simon Balding for owner Sheikh Mohammed bin Rashid Al Maktoum, the vice-president and prime minister of the United Arab Emirates.
Without a Fight has won two races over a 2,787m distance this year, but like Deauville Legend has not run over 3,200m.
Splitting the pair is the David Payne-trained local galloper Montefilia, who was a flashing fourth in the Caulfield Cup.
The Chris Waller-trained Caulfield Cup winner Durston was high in the Melbourne Cup betting market until he was withdrawn from the race last Thursday on Racing Victoria vets advice.
Then-second favourite, Loft, was withdrawn on Friday after scans found an issue with the German horse trained by Marcel Weiss. Other remaining chances include the runner-up in the Caulfield Cup, Gold Trip, one of five horses in the Cup trained by Ciaron Maher and David Eustace; Realm of Flowers, trained by Anthony and Sam Freedman; and multiple Group One winner Duais who has been set for this race by trainer Ed Cummings, the grandson of legendary "Cups King" Bart Cummings.
The 2019 Melbourne Cup winner Vow and Declare, trained by Danny O'Brien, is also back for a third crack at the race after a sixth place finish in the Caulfield Cup.
Cup Day itself is predicted to have cool conditions, with a shower or two — up to 15mm of rain — and a top temperature of 14 degrees Celsius.
Given the amount of rain that has already fallen in Melbourne in recent weeks, these top-ups will mean the track is unlikely to be dry for the race.
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