Record Melbourne Cup wagering fuels VRC carnival growth
Betting on the Melbourne Cup hit a record $247.4 million, up 16.4 per cent, to be a key driver in Melbourne Cup carnival performance metrics in recent years.
Wagering on the Melbourne Cup grew 16.4 per cent year-on-year in an increase the Victoria Racing Club says underlines the enduring appeal of the famous race.
According to VRC figures, a record $247.4 million was gambled on the Melbourne Cup, won by the Jamie Melham-ridden Half Yours.
Melbourne Cup betting accounted for more than 64 per cent of total wagering receipts across the 10-race meeting, with $382.5 million invested during the day contributing to an 11 per cent increase on 2024.
The VRC also reported growth across other key indicators, including attendance, broadcast reach, digital engagement and corporate demand.
VRC chief executive Kylie Rogers said the figures reflected a renewed enthusiasm for the Melbourne Cup – and racing in general.
“The success of the 2025 Melbourne Cup carnival has emphatically demonstrated that racing is back and thriving,” she said.
“With our largest crowd since 2018, record-breaking wagering turnover on Melbourne Cup Day, and significant uplift in broadcast figures, the momentum and energy throughout the week was infectious.”
More than 286,000 people attended the four-day carnival, the highest since 2018.
The Melbourne Cup meeting attracted 84,376 people through the gates, while 86,112 took part in Victoria Derby day.
Despite unfavourable weather, 65,021 were on course for Champions day, following a crowd of 51,239 for VRC Oaks day.
The VRC said the crowd skewed towards a younger demographic more than ever, with 53 per cent of general admission tickets purchased by people under 35, a 17 per cent increase on 2024.
Enhanced entertainment offerings and digital storytelling were cited as factors for broadening the event’s appeal to new generations.
VRC chairman Neil Wilson said the results underscored the club’s post-pandemic strategy of transformation and reinvestment in its signature carnival.
“The 2025 Melbourne Cup carnival has been an outstanding success on any measure,” he said.
“This is a clear endorsement of our commitment to ongoing innovation and investment post the COVID-19 period.”
Television audiences also surged, with 2.3 million Australians tuning in to watch the Melbourne Cup, a 9 per cent increase year-on-year.
For the first time since 2018, the broadcast attracted more than two million viewers.
Across the full week, 5.5 million people tuned in via the Nine Network.
Streaming on the 9Now outlet rose 25 per cent to 463,000 viewers, reflecting a continued shift toward digital consumption.
On social media, the VRC’s digital platforms reached new heights, delivering more than 36 million video views, up 63 per cent year-on-year, including more than 10 million on TikTok.
Across Meta and TikTok, Melbourne Cup carnival promotional material reached 31.6 million people, a figure the VRC says confirms the event’s global reach.
Elsewhere, corporate demand soared, with hospitality revenue climbing 10 per cent year-on-year as all premium venues were sold out.
New offerings such as the 350 Collective and Birdcage’s Marmont marquee operated at full capacity, highlighting the carnival’s continuing allure for corporate Australia and premium event clients.
The broader economic impact was equally strong, with 66 per cent of Cup day ticket sales coming from interstate or international visitors, providing a major boost to Victoria’s tourism and hospitality sectors.
More than 1150 performance hours of entertainment were provided across the four days, featuring 12 interstate and international acts among 200 artists.
A philanthropic and community impact was estimated to contribute more than $1 million to charity and equine well-being partners.
The VRC said the results would strengthen its financial position, enabling continued debt reduction and fresh investment in racing, member and community facilities, and the long-term Flemington 2024 Master Plan.
“The Melbourne Cup carnival continues to captivate audiences of all ages,” Rogers said.
“The wagering growth, crowd energy and broadcast reach we’ve seen this year give us tremendous confidence for the future of Australian racing.”
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