Prizemoney increase to enhance Derby

Racing Victoria (RV), in conjunction with the Victoria Racing Club (VRC), has today announced that prizemoney for the 2026 Howden Victoria Derby has been increased to a record $3 million.

The 173rd Victoria Derby will be run over 2500 metres for three-year-olds on Saturday, 31 October – the opening meeting of the four-day Melbourne Cup Carnival at Flemington Racecourse.

The decision to increase the prizemoney by $1 million comes following the Asian Pattern Committee’s (APC) recent considerations on whether to downgrade the Derby from its prized Group 1 status. 

The APC ultimately determined the race would remain a Group 1 for the 2026-27 season. A decision on its black type status for the 2027-28 season won’t be made by the APC until after this year’s edition is run.

The increase in Derby prizemoney is part of an ongoing review by RV of Victoria’s feature three-year-old and staying programs to ensure they retain their prestige and attractiveness for owners, breeders and trainers.

Victoria Derby Day at Flemington was the highest attended race meeting in Australia in 2025 and the Victoria Derby attracts the fourth highest wagering hold in Victoria behind only the Lexus Melbourne Cup, Sportsbet Caulfield Cup and Ladbrokes Cox Plate, underlining its ongoing importance to the state.

The increase to $3 million brings the Victoria Derby into line with the $3 million Group 1 Sportsbet Caulfield Guineas (1600m) for three-year-olds at Caulfield Racecourse on Saturday, 10 October 2026. The first prize cheque for both races will be $1.8 million.

The Derby boost follows other key prizemoney increases over the past 15 months with the Melbourne Cup, Caulfield Cup and Cox Plate all raised to record levels, whilst an additional $7 million has been invested into maiden races with 1400 country maidens all increased by $5,000 each.

Quotes attributable to RV Chief Executive, Aaron Morrison

“The Howden 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 racedays in world racing. 

“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.” 

Quotes attributable to VRC Chief Executive, Kylie Rogers

“The Howden Victoria Derby is undoubtedly one of Australia's most prestigious races and a cornerstone of the Melbourne Cup Carnival. Increasing prizemoney recognises the significance of one of the country's great races and helps ensure it continues to attract the best horses, connections and competition.

“This investment reflects our commitment to continuing and enhancing the race's legacy, ensuring the Howden Victoria Derby remains one of the sport's most important, aspirational and prestigious contests, and the VRC thanks Racing Victoria for their partnership and support.”