Melbourne Cup, The Everest approved for Japanese betting market

The Melbourne Cup and The Everest have both been added to the list of races that Japanese punters are allowed to bet on in what could prove a boost for both the Australian Turf Club and the Victoria Racing Club.

Japan’s Minister of Agriculture, Forestry and Fisheries, who oversees racing and betting in the country, confirmed this week that an additional 84 foreign races were approved for Japan Racing Association (JRA) tote operations, effective from September 2026.

There is a catch, however; a Japanese runner will be required to participate in the race.

That could trigger a fresh drive from the ATC and Racing NSW to recruit the first Japanese-trained runner for Australia’s richest race, The Everest.

Last year, there was a push to secure Australian-bred sprinter Invincible Papa for the Randwick feature, but it fell short. Satono Reve had been on Newgate’s radar for a slot this year but that approach was rebuffed, with the sprinter remaining active in Europe across the summer.

Race clubs receive a direct fee on races that are bet on internationally as part of a broader rights agreement. It is usually a percentage of turnover and can provide an additional source of revenue.

Any revenue from the JRA would be in addition to money received by the clubs as part of World Pool agreements.  

The Melbourne Cup has been reinstated as an approved JRA race, having held that status from 2016 to 2019.

Japanese participation in the famous Flemington race has been consistent over recent years. Warp Speed finished a narrow second behind Knight’s Choice in the 2024 edition, while Shimizu Rose was 23rd last year and Breakup finished 16th in 2023.

In recent years, the Cox Plate has remained as the only Australian race that Japanese punters are allowed to bet on. In the 2024 edition, where Japanese-trained Prognosis ran second, the weight-for-age race turned over 409 million yen, or AU$3.5 million, on the JRA.

In that year, Japanese punters turned over 29 billion yen, or AU$260 million on international races via the JRA. The highest-turnover race was the Prix de l’Arc De Triomphe, which generated 4.6 billion yen, more than 10 times the Cox Plate, despite the unfavourable time zone.

The Ministry has now decided to add a swathe of international races given Japan’s growing participation on the global stage.

Also included are races such as the Irish Derby, the French Derby, British Champion Stakes and a host of other European Classics.

As one of only four sports on which Japanese are legally allowed to bet, horse racing holds massive betting interest in Japan.  

In 2025, 3.5 trillion yen, the equivalent of $AU30.7 billion, was turned over on JRA races domestically, plus 1.15 trillion yen (AU$10 billion) via the local government-run National Association of Racing authority.