A notable $1 million increase in prize money for the key race on the Melbourne Cup Carnival’s opening day has been revealed by Racing Victoria and the Victoria Racing Club.

This year, the Group 1 Victoria Derby, run over 2500 metres at Flemington on October 31, will carry a total prize pool of $3 million.

The enhanced prizemoney comes after the Asian Pattern Committee recently considered the Derby’s Group 1 status. The committee ultimately decided to maintain the Derby as a Group 1 contest, with further discussions on its ‘Black Type’ status to take place later in the season.

The additional $1 million in prize money brings the Derby into line with the Group 1 Caulfield Guineas, a 1600m race for three-year-olds held on October 10.

RV chief executive Aaron Morrison commented on the significance of the Derby’s placement 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 said. “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.”

The Victoria Derby was won last year by Godolphin runner Observer, who had previously finished an unfortunate third in the Caulfield Guineas.

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