<p>Prize money in horse racing has exploded over the past decade, and what used to be dominated by European races like the Arc has been completely transformed by Middle Eastern oil money and booming Asian racing markets.</p> <p>The numbers are staggering, with the two richest races now offering $20 million - double what the top prize was just a few years ago. In these events, even finishing tenth can net hundreds of thousands of dollars.</p> <p>British and Irish racing doesn't feature at all in this top 10, which tells you everything about where the money has shifted in the last two decades or so. These days, if you want the really big paydays, you're heading to Saudi Arabia, Dubai, Australia, or Japan.</p> <p>In this new article we are taking a break from our usual <a href="https://www.sportsbet.com.au/racing-tips">daily horse racing tips</a>, to explore the 10 most lucrative horse races on the planet, ranked by their total prize purses.</p> <h2>Saudi Cup: $20 Million</h2> <p>Leading the global rankings is the <strong>Saudi Cup</strong>, the world's richest horse race with a staggering <strong>$20 million</strong> total purse.</p> <p>Since its inaugural running in 2020, this race immediately claimed the top spot in world racing, offering the winner an incredible $10 million payday. Even the horse finishing tenth receives $200,000, which makes every position in the field highly valuable.</p> <p>Held annually in February at King Abdulaziz Racecourse in Riyadh, Saudi Arabia, the Saudi Cup is run over 1 mile 1 furlong (9 furlongs) on a dirt track. The race represents Saudi Arabia's ambitious entry into elite international racing and has attracted some of the world's finest dirt track specialists since its inception.</p> <p>The timing of the Saudi Cup is strategically positioned between other major dirt races, allowing top horses to target multiple high-value events during the winter season. Entry and transportation are provided by the Jockey Club of Saudi Arabia, removing financial barriers for international participants and ensuring a world-class competitive field.</p> <h2>The Everest: $20 Million</h2> <p>Australia's premier sprint race, <strong><a href="https://www.sportsbet.com.au/events/the-everest">The Everest</a></strong>, now shares the top ranking with a <strong>$20 million</strong> prize purse, making it officially the richest turf horse race in the world together with the Dubai Cup.</p> <p>This six-furlong sprint showcases the world's fastest thoroughbreds at Royal Randwick Racecourse in Sydney each October.</p> <p>First contested in 2017, The Everest quickly established itself as Australia's most valuable race, surpassing even the legendary <a href="https://www.sportsbet.com.au/events/melbourne-cup">Melbourne Cup</a>. The prize money increased from $15 million (2018-2022) to $20 million in 2023, solidifying its position at the pinnacle of sprint racing worldwide.</p> <p>The innovative slot system requires owners to purchase one of 12 starting positions for approximately $600,000, but the potential rewards are immense. The winner collects a substantial portion of the $20 million purse, making it a lucrative investment for connections with championship-caliber sprinters. The race has become a must-watch event on the global racing calendar, combining Australian racing culture with world-class competition.</p> <h2>Dubai World Cup: $12 Million</h2> <p>The <strong>Dubai World Cup</strong> was the gold standard of horse racing wealth for nearly a quarter-century. With a current prize purse of <strong>$12 million</strong>, including $7.2 million to the winner, this iconic race maintains its position among the world's elite despite being surpassed by newer events.</p> <p>Staged at the magnificent Meydan Racecourse in Dubai at the end of March, the race runs over 1 mile 2 furlongs (10 furlongs) on dirt. First contested in 1996, it held the title of the world's richest horse race until 2020, when the Saudi Cup claimed that distinction.</p> <p>The Dubai World Cup is the marquee event of an extraordinary race day featuring multiple Grade 1 events and a combined card worth over $30 million.</p> <p>Godolphin, the racing operation of Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum, has dominated the event with seven victories, including Thunder Snow's record-breaking dirt track performance in 2018.</p> <h2>The Golden Eagle: $10 Million</h2> <p>Uniquely restricted to four-year-old horses, <strong><a href="https://www.sportsbet.com.au/events/the-golden-eagle">The Golden Eagle</a> </strong>offers a <strong>$10 million</strong> prize purse and features an extraordinary charitable component. Each horse nominates a charity and 10% of prize money goes to that cause. The winner's charity gets $525,000.</p> <p>Run at Rosehill Racecourse in Sydney on the last Saturday of October, this 1,500-meter race doesn't have the profile of The Everest, but the money attracts top four-year-olds.</p> <p>The race only started in 2019, but it's already a key target for trainers with talented horses at that age. The four-year-old restriction means owners have to weigh up whether to race on for the big payday or send their horse to stud.</p> <h2>Melbourne Cup: $8 Million</h2> <p>The <strong>Melbourne Cup</strong> is worth <strong>$8 million</strong> ($4.4 million to the winner) and it's genuinely a big deal here in Australia - to the point it became "the race that stops a nation" and Melbourne actually gets a public holiday for it every November.</p> <p>It's run over 2 miles at Flemington Racecourse - a proper stamina test. The race dates back to 1861, making it one of the oldest major races going.</p> <p>European trainers have been targeting the Melbourne Cup for decades, sending their best stayers down under for a crack at the prize money. It's a long way to travel and a tough race to win, but the combination of history, prestige, and a $4.4 million winner's cheque makes it worth the trip.</p> <p>Since we know how readers love this event, here are some additional readings we are sure you will find interesting:</p> <ul> <li><a href="https://www.sportsbet.com.au/huddle/horse-racing/melbourne-cup/how-to-stream-melbourne-cup">How to watch the 2025 Melbourne Cup</a></li> <li><a href="https://www.sportsbet.com.au/huddle/horse-racing/melbourne-cup/how-to-run-a-melbourne-cup-sweepstakes">How to run a Melbourne Cup sweepstake</a></li> <li><a href="https://www.sportsbet.com.au/huddle/horse-racing/melbourne-cup/how-to-pick-a-horse">How to pick a horse for the Melbourne Cup</a></li> </ul> <h2>Breeders' Cup Classic: $6 Million</h2> <p>The <strong><a href="https://www.sportsbet.com.au/futures/horse/breeders-cup-classic-antepost--9185325">Breeders' Cup Classic</a></strong> commands a<strong> $6 million</strong> prize purse and represents the pinnacle of North American racing. Run over 1 mile 2 furlongs (10 furlongs) on dirt, this Grade 1 event often determines the Horse of the Year in the United States.</p> <p>Established in 1984, the Classic was briefly the world's richest race before being overtaken by more recent mega-events. The race is held at a different track each year as the Breeders' Cup meeting rotates around North America, with the 2024 edition taking place at Del Mar, California.</p> <p>The Classic is restricted to three-year-olds and above and is considered the unofficial fourth leg of American racing's Triple Crown.</p> <p>The race attracts significant international interest, with British and Irish trainers regularly sending representatives to compete.</p> <p>As the grand finale of the Breeders' Cup World Championships (a two-day meeting featuring over $33 million in total prize money) the Classic provides a spectacular conclusion to the autumn racing season.</p> <h2>Dubai Sheema Classic: $6 Million</h2> <p>The second Dubai race to feature in this ranking, the <strong>Dubai Sheema Classic</strong> offers a <strong>$6 million</strong> prize fund for this prestigious Grade 1 turf event.</p> <p>Run at Meydan Racecourse in March as part of the spectacular Dubai World Cup card, the race showcases the world's finest turf horses over 1 mile 4 furlongs (12 furlongs).</p> <p>First held in 1998, the Dubai Sheema Classic has become a premier target for middle-distance turf specialists from around the globe. Godolphin has an exceptional record in the event, with multiple victories demonstrating Sheikh Mohammed's breeding and training excellence.</p> <h2>Arima Kinen</h2> <p>Japan's richest race, the <strong>Arima Kinen</strong>, is worth <strong>$5.9 million</strong>. Run at Nakayama Racecourse in late December, it's absolutely massive for <a href="https://www.sportsbet.com.au/racing-schedule/horse/today">betting on horses</a> - bigger than anything in Europe.</p> <p>The race has been run since 1956 over 1 mile 4.5 furlongs. What makes it different is the public vote to help select the field, which you don't see in other major races.</p> <p>It's the finale of Japan's racing season and draws huge crowds. Japanese horses have dominated recently, with international runners rarely making the trip.</p> <h2>Japan Cup</h2> <p>The <strong><a href="https://www.sportsbet.com.au/horse-racing/futures-international/japan-cup">Japan Cup</a></strong>, also valued at <strong>$5.9 million</strong> and runs in late November at Tokyo Racecourse. It's an invitational race limited to 18 runners over 1 mile 4 furlongs.</p> <p>When it started in 1981, the whole point was to get international horses competing in Japan. That worked for a while, but since 2008 every winner has been Japanese-trained.</p> <p>The winner takes home about $2.7 million, which is decent money, but not many international trainers bother with the long trip to Tokyo anymore.</p> <h2>Prix de l'Arc de Triomphe: $5 Million</h2> <p>Europe's richest and most prestigious horse race, the <strong><a href="https://www.sportsbet.com.au/futures/horse/prix-de-larc-de-triomphe-8699266">Prix de l'Arc de Triomphe</a></strong>, offers a <strong>$5 million</strong> prize purse ($3.2 million to the winner). Held on the first Sunday of October at the historic Longchamp Racecourse in Paris, the "Arc" has been a fixture in European racing since its inaugural running in 1920.</p> <p>Run over 1 mile 4 furlongs (2,400 meters), the Arc is the ultimate test for middle-distance horses aged three and above. Any Group 1-winning horse at this trip in Britain, Ireland, or France inevitably has the Arc as its ultimate goal. The race represents the championship of European turf racing.</p> <p>Legendary jockey Frankie Dettori holds the record for most Arc victories with six wins, while trainer Andre Fabre has saddled eight winners. After a $145 million renovation of Longchamp, completed in 2018, the racecourse now provides a stunning backdrop for what is probably Europe's most glamorous racing event.</p> <h2>The Global Racing Circuit</h2> <p>These 10 extraordinary races represent the very best of international horse racing, combining staggering prize money with unmatched prestige.</p> <p>Together, the events in our list offer over $100 million in total prize money and attract the world's finest thoroughbreds. In terms of sporting excellence, these are the events to keep an eye on as these are the events where legends (and millionaires) are made.</p> <p>As we’ve mentioned in the introduction, you may have also noticed that no British race currently makes the top 10 (with the Epsom Derby and Royal Ascot events falling just short) - and I am sure that sounds somehow surprising.</p> <p>Yet, the global nature of modern racing means these events draw British and Irish horses regularly. Trainers from the UK and Ireland frequently target races like the Dubai World Cup, Breeders' Cup Classic, and Melbourne Cup, adding their own ‘British touch’ to those international competitions.</p>