2022 Melbourne Cup Prize Money - Huge $8 million on offer at Flemington

The 2022 Melbourne Cup takes place at Flemington racecourse in Australia, on Tuesday 1st November. The Melbourne Cup is known as "the race that stops a nation" and remains the richest handicap race in all of horse racing.

Twenty-four of the world's best two-mile stayers will enter the stalls at Flemington ahead of Tuesday's main event, ready to battle it out for the staggering prize pool.

A total prize pot of $8,000,000 will be on offer in the 2022 Melbourne Cup. The winning horse will hand connections the first prize of over $4,500,000.

Here's what the top five placers in the 2022 Melbourne Cup will earn their connections...

In the world of horse racing, the winning rider will win a percentage of the first prize money if they guide their horse to victory. That percentage will have been agreed upon before the race started. 

Generally in Australia, the winning jockey will receive around 5% of the prize money, plus certain contractual bonuses. The winning jockey in the Melbourne Cup will receive at least $200,000 in prize money.

The Melbourne Cup was held in Australia back in 1861, making it one of the oldest races in all of horse racing. The race is run at Flemington racecourse over a trip of 3,200 meters (two miles).

While the Melbourne Cup holds Group One status, it's also a handicap race. The highest-rated of the 24 runners will be allotted a weight of 58kg. The lowest-rated horse will carry a weight of 49kg.

Deauville Legend is now the sole favourite for the 2022 Melbourne Cup, after German raider Loft was withdrawn from the race. Montefilia, Gold Trip, Hoo Ya Mal and Duais also sit prominently in the betting.