Racing Victoria and the Victoria Racing Club have confirmed a significant $1 million increase in prize money for the headline race on the opening day of the Melbourne Cup Carnival.

The prestigious Group 1 Victoria Derby, run over 2500m at Flemington on October 31, will now boast a total purse of $3 million.

This enhanced prizemoney follows recent deliberations by the Asian Pattern Committee regarding the Derby’s Group 1 standing. Ultimately, the committee opted to maintain its Group 1 status, with further discussions on its ‘Black Type’ classification scheduled for later in the season.

The additional $1 million elevates the Derby’s prize money to match that of the Group 1 Caulfield Guineas, a 1600m event for three-year-olds held on October 10.

RV chief executive Aaron Morrison highlighted the importance of the Derby on the opening day of Melbourne Cup week.

“The Victoria Derby is integral to the success of Victorian racing, in terms of its rich heritage and its role in headlining one of the biggest race days in world racing,” Morrison stated. “We believe the retention of Group 1 status for the Victoria Derby is vital given the day’s importance to our industry and the fabric of Australian racing more broadly. We must be proactive to ensure that is preserved. This prizemoney boost is an important first step. Beyond this, we’re continuing to review our feature three-year-old and staying programs, including conditions, pattern and prizemoney, to determine what is best for the industry in 2027 and beyond.”

Last year’s Victoria Derby was won by Godolphin galloper Observer, who had previously secured an unlucky third place in the Caulfield Guineas.

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