Melbourne Cup season is officially upon us, with 24 of the best horses set to compete in the famous race on the first Tuesday of November.
In the midst of a blockbuster spring carnival in both Victoria and NSW, all eyes are turning towards Flemington Racecourse, with the running of the annual 3200m event on November 7th.
Gold Trip will be back to defend its crowd and looks in tremendous touch, but will be facing stiff competition from the likes of Soulcombe and overseas galloper Vauban.
The Sporting News has all the prize money information for this year's Melbourne Cup below.
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Melbourne Cup prize money: How much does the winner earn?
The total prize money for the Melbourne Cup sits at $8 million, with the connections of the winning horse set to pocket $4.4 million.
The jockey, trainer and owner of the winning horse will also receive their own version of the Melbourne Cup trophy.
Melbourne Cup prize money breakdown
| 1st | $4.4 million |
| 2nd | $1.1 million |
| 3rd | $550,000 |
| 4th | $350,000 |
| 5th | $230,000 |
| 6th-12th | $160,000 |
When is the Melbourne Cup?
This year's Melbourne Cup will be held on Tuesday, November 7th at Flemington Racecourse.
The feature event on a 10-race card will commence at 3pm AEDT.
What channel is the Melbourne Cup on?
This year's Melbourne Cup Carnival will be broadcast live on Channel 10.
As always, Sky Racing will also show the main race, as well as every other race on Cup day across the country.