Racing Victoria sustains prize money, boosts features and maidens amid ‘realignment’

A $10 million Melbourne Cup, a $6 million Cox Plate and an additional $7 million for maidens highlight Racing Victoria’s revamped prize money structure for the 2025/26 season.

Commercial challenges driven by an ongoing downturn in wagering has put significant pressure on Racing Victoria’s bottom line over the past two years, but while there was an expectation that would impact overall prize money levels, returns to owners have been sustained in the upcoming season.

Described by RV as a “strategic re-alignment”, the Victorian regulator has put more money into both the top and bottom end of the racing calendar, with the headline moves to increase its two best races, the Melbourne Cup and the Cox Plate to record-high levels, complemented by a commitment to $5000 per race boost to 1400 country maidens.

There has also been a boost for a slew of feature races, including the Newmarket Handicap. the Underwood Stakes, the CF Orr Stakes, the Thoroughbred Club Stakes and the Sandown Guineas, while minimum prize money will be increased throughout spring for all Listed and Group 3 races.

It has been able to save money by reducing the overall number of meetings by 18, while also reducing prize money at meetings transferred from Moonee Valley as it undergoes reconstruction.

There have also been tweaks to the contribution it makes through prize money levies to trainer WorkCover costs and overall welfare contributions, which will help fund the headline prize money changes. The Australian Cup and the All-Star Mile have also had $500,000 reductions.

“The prizemoney model for 2025-26 reflects a broad range of valuable submissions from our clubs and stakeholder groups whom we thank for their insights. We also acknowledge the commitments from the MRC, VRC and MVRC to increase their contributions to lift prizemoney for key races next season,” RV chief executive Aaron Morrison said.

“Prize money is the lifeblood for participants and owners and provides confidence to continue to invest in Victorian racing. That is why we’ve worked hard to maintain the total prize money on offer at current levels despite broader economic challenges.”

“At the heart of next season’s prize money model is a strategic realignment to primarily turbo-charge country maidens and to invest in flagship races that deliver maximum returns to the industry.”

The maiden boost will be structured as follows:

– Country Premier Maidens – $55,000 (up from $50,000)

– Country Premium Night Maidens – $45,000 (up from $40,000)

– Country Premium Day Maidens – $42,500 (up from $37,500)

– Country Standard Maidens – $32,000 (up from $27,000)

– Country SKY 2 Maidens – $25,000 (up from $20,000)

– Country Non-TAB Maidens – $20,000 (up from $15,000)

There will also be $55,000 (day/twilight) and $60,000 (night) maidens programmed at midweek metro meetings, while a series of $75,000 maidens will double as feature race qualifiers.

“Maidens make up a third of our races and are hard to win. That’s why we’re delighted to increase all professional country maidens by $5,000 to provide a greater initial return for those investing in our sport,” Morrison said.

The Melbourne Cup remains by far Australia’s biggest betting race, according to RV it generates six times as much as the second highest turnover event, the Cox Plate. Its rise to $10 million will see all 24 runners receive a minimum $100,000 prize money.

The final Cox Plate run at the current Moonee Valley has also been boosted from its current $5 million.

Valley closure at centre of major changes to 2025/26 Victorian racing schedule

Racing Victoria will stage 503 meetings across the state in the 2025/26 racing season with 32 reallocated as Moonee Valley shuts for a major redevelopment.

The StraightWarwick Barr

Other notable changes include a change in the race ratings system at the lower end.

The new categories will be introduced from September 1 and trialled throughout the remainder of the 2025/26 season and will see benchmark 66 / 0-66 races worth $27,000, benchmark 62 / 0-62, $27,000, benchmark 56 / 0-56, $22,000 and benchmark 52 / 0-52, $22,000.

The closure of Moonee Valley for refurbishment has allowed Racing Victoria to adjust prize money levels in the 16 meetings moved elsewhere, in a reflection of anticipated lower wagering returns.

The two relocated Saturday metropolitan meetings will have their prize money levels sustained, while Friday night meetings at Cranbourne and Pakenham and other meetings at Geelong have had their minimums reduced.