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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 10^th.

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.

At the time of writing, Royal Ascot is still a few weeks away, so the first premier juvenile races of 2022, including the Coventry Stakes, Queen Mary Stakes and Norfolk Stakes, are yet to be run. However, the opening two-year-old race of the season, the Brocklesby Stakes, run over 5 furlongs at Doncaster in late March, has already produced the highest rated winner this century, according to Timeform.

That winner was Persian Force (100p), trained by Richard Hannon, who looked a class apart from his rivals, quickening clear in the closing stages to win impressively by 4¾ lengths. The son of Mehmas was well touted before making his debut and, having justified even-money favouritism, winning jockey Rossa Ryan said of him, ‘He didn’t even look at the crowd, he just did his job. I never had a moment’s worry. We were going a good gallop and I was always cantering all over them.’ Persian Force did not to improve to win a small conditions race at Newbury in mid-May, but has already been favourably compared with multiple Group 1 winner Canford Cliffs by his trainer.

Joint second-best at this early stage, according to Timeform, are the Kessaar colt Tajalla (99p) and the Showcasing filly Dramatised (99p). Both are trained in Newmarket, the former by Roger Varian and the latter by Karl Burke. Tajalla made an unusually early racecourse debut for Varian, winning a novice stakes race at the Newmarket Craven Meeting. Varian said afterwards, ‘He’s an exciting juvenile and I hope he’s the type of horse that gets us to Royal Ascot.’ Dramatised was no less impressive when winning a maiden fillies’ stakes race, also over 5 furlongs on the Rowley Mile at Newmarket, by 4 lengths two weeks later.

Selecting which horse to back in the majority of races is usually pretty straightforward. We look through the list of names, maybe do a little research about the horse and their trainers, glance at their form in races and which jockey is going to be in the saddle, then consider whether there is good value in the betting odds available.

But what happens when there are two horses with exactly the same name? Interestingly, this is actually an extremely rare occurrence, although it can and very occasionally does happen, as proven by a recent race at Irish track Gowran Park in June 2022. When the list of starters was announced, there were two horses named ‘Sierra Nevada’ competing.

Understandably, this caused considerable confusion amongst the viewing public, although thankfully, the race commentator had a suitable solution. Every time he mentioned either of the horses, he also added the name of their trainer. Indeed, “Jessica Harringtons’ Sierra Nevada” and “Charles O’Brien’s Sierra Nevada” was how he referred to either horse, as they sped around the track.

According to the BBC, this was the first time since 1994 in Britain or Ireland, that two horses bearing the same name had competed in the same race. This was when two horses named Averti were racing at Great Yarmouth. But how can such a rare circumstance as this occur in horse racing, especially given that Britain and Ireland share a joint stud book?

Well, the answer is actually quite simple. On this occasion for the race at Gowran Park, the two horses came from opposite sides of the Atlantic ocean. Sierra Nevada trained by Harrington was bred and registered in the United States, while Sierra Nevada trained by O’Brien was registered in Great Britain and Ireland. However, there was probably an oversight somewhere down the line when both horses were named by their owners.

To name a race horse in Great Britain and Ireland, owners must apply to Weatherbys, the racing administration company founded back in 1770, which provides a variety of services to the racing industry in both countries. One of these is the registration of names, which includes numerous restrictions. For example, more than 3,000 horse names are internationally protected, such as legendary Red Rum, which means they cannot be reused.

There is also a character restriction, which means that horse names can be no longer than 18 characters and including spaces. Tasteful naming is also a consideration, therefore no foul or distasteful language can be used, while copyright is also an important consideration, which means that brand or company names cannot be given to horses.

Other limitations are considered whenever naming horses after people, alive or dead for less than fifty years, unless owners have permission from said person or their estates. Likewise, the names of previous horses cannot be reused until five years after they have retired, unless of course they are internationally protected or under copyright restriction, as previously mentioned.

? “I knew there were two of them. The other filly kept getting entered and I kept thinking that I hadn’t put that filly in that race!”

Jessica Harrington’s Sierra Nevada strolled home to victory at Gowran Park

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— Racing Post (@RacingPost) June 12, 2022

Interestingly, the current Weatherbys register contains the names of more than 250,000 horses. Yet somehow, these two horses named Sierra Nevada managed to slip through the habitual naming process, most likely because one was named and registered in the United States, without that name being added to the Weatherbys list in Great Britain and Ireland.

What makes this rarity all the more confusing is that for many punters, the name of a horse can often be one of the considerations whenever they’re backing a horse in any given race. Although the name alone is no indication as to form or potential success, the appearance of two horses carrying the same name in one race can obviously create uncertainty.

Whenever we are wagering on horse races, no two bookmakers are ever the same, as odds available can vary and market options can also be presented in different ways, therefore making well informed comparisons is always recommended. This why the best advice is always to find top betting sites based upon your own preferences, making the latest SBO guide a great place to start.

Just like this rare occurrence of two horses bearing the same name, there can often be many similarities between different online betting sites. Comparing them in more detail can help us to make informed choices, weighing up those which offer the most competitive odds and offers, whilst also being recognised for quality customer care and reliable betting services.