What is the highest prize money in Australian Horse Racing?

The highest prize money in Australian horse racing is associated with the Melbourne Cup, which is often referred to as "the race that stops a nation." As of 2023, the total prize pool for the Melbourne Cup is AUD 8 million, with the winner receiving AUD 4.4 million. This prestigious race, held annually on the first Tuesday in November, attracts top horses from around the world and is a significant event in the Australian sporting calendar.