Some of the world’s most famous horse races have seen their prize purses slashed over the past couple of years.
The Covid-19 pandemic and an uncertain economic outlook have led to some belt tightening among organisers. However, there are still eye-watering sums up for grabs at the world’s richest races.
Based on the current exchange rates, these are the top 10 richest horse races in the world right now:
10. Japan Cup
The Group 1 Japan Cup boasts prize money of JPY 648 million. A couple of years ago, that was enough to see it comfortably nestled in the top five richest races in the world. However, the Japanese yen has plunged against the U.S. dollar in 2022, as the Bank of Japan’s ultra-loose monetary policy stands in stark contrast to the Federal Reserve’s aggressive moves to stamp out inflation. As such, JPY 648 million is only worth $4.8 million now, compared to $6.4 million in 2022, causing the Japan Cup to drop to 10th.
9. Dubai Turf
Prize money for the Dubai Turf has dropped from $6 million to $5 million, meaning it is now the ninth richest race in the world. It was initially run on dirt when the race was inaugurated in 1996, but it was transferred to turf after a few years. The Dubai Turf achieved Group 1 status in 2002. Recent winners include Benbatl and Almond Eye. Lord North won the race in 2021, with Frankie Dettori in the saddle. The following year witnessed a dead heat between Lord North and Japanese horse Panthalassa.
8. Prix de l’Arc de Triomphe
The Arc is Europe’s richest horse race, with a prize purse of €5 million ($5.3 million). It is named after the famous monument in Paris, and it has been running since 1920. The Prix de l’Arc de Triomphe attracts the world’s best horses, who arrive to pit their wits against the leading French runners featured at Race Sharp throughout the season. Dettori is the most successful jockey in the race’s history, having won it six times.
7. Melbourne Cup
The Melbourne Cup is known as “the race that stops a nation”. It causes Australia to come to a virtual standstill each November, but it is also very popular around the world. Organisers at Racing Victoria claim it is watched by more than 750 million people across 163 territories globally. It has prize money of A$8 million (US$5.6 million), which leaves it ahead of the Prix de l’Arc de Triomphe. This race is a staying test, taking place over 3,200m at Flemington Racecourse, and Irish and British raiders have a strong recent record of upstaging local heroes.
5.= Dubai Sheema Classic
The Sheema Classic takes place on Dubai World Cup night, along with the Dubai Turf. It is the richest single day of racing in the world, with $30.5 million in prize money spread across nine races. The Dubai Sheema Classic and the Dubai Turf previously had identical prize money, but the Dubai Turf has now dropped to $5 million, while the Sheema Classic still offers $6 million. It is a Group 1 race that takes place over a distance of 2410m at Meydan Racecourse.
5. Breeders’ Cup Classic
America’s most prestigious race also carries a prize purse of $6 million. This Grade 1 weight for age race is run over a distance of 11⁄4 miles at a different racetrack in late October or early November each year. Some consider it to the be fourth leg of the Grand Slam of thoroughbred racing in the U.S., following the Kentucky Derby, the Preakness and the Belmont, but it has a larger purse than those races. The Breeders’ Cup Classic is open to three-year-olds and older. Famous recent winners include American Pharaoh, Gun Runner and Authentic.
4. Golden Eagle
Prize money for the Golden Eagle has been bumped up to A$10million (US$7 million), which has seen it overtake the Melbourne Cup to become Australia’s second richest horse race. It was inaugurated in 2019, when Kolding saluted. Colette won in 2020, followed by I’m Thunderstruck in 2021. The race is for four-year-olds and run over 1,500m at Rosehill Racecourse in Sydney.
3. The Everest
The Everest made a splash when it launched with prize money of A$10 million in 2017. The prize money has crept up on an annual basis, and it now stands at A$15 million (US$10.4 million), making it the third richest race in the world. There are 12 slots available, and an entry fee of A$600,000 is required to claim a place. It follows a similar format to the Pegasus World Cup in Florida, which once boasted prize money of $12 million, although it has since dropped to just $3 million. The Everest is a spring race, run over 1,200m, and recent winners include Classique Legend and Nature Strip.
2. Dubai World Cup
The Dubai World Cup remains the second richest race in the world, with prize money of $12 million. It is the centrepiece of Dubai World Cup Night at Meydan, which also includes the Dubai Turf and the Dubai Sheema Classic. The race was first held back in 1996, when Cigar won. Famous winners since then have included California Chrome, Arrogate and Tunder Snow. In 2022, Bob Baffert’s Country Grammer won the race. Dettori was the rider, making him the joint most successful jockey in the race’s history, as he and Jerry Bailey now have four wins apiece. Godolphin’s Saeed bin Suroor is the race’s most successful trainer, with nine wins.
1. Saudi Cup
The Saudi Cup is the world’s richest race, with prize money of $20 million. It launched in 2020, when Maximum Security won the race. However, his purse was withheld over doping allegations. There were no such concerns for John Gosden’s Mishriff, who won the 1,800m race in 1:49.59 in 2021. Emblem Road was the 2022 winner. The Saudis are making controversial inroads into golf and boxing, and they currently occupy a lofty position in the sport of kings.