Changes announced today increased this year's Melbourne Cup prizepool to $8mil from $7.3mil:

First - $4,000,000 $4,400,000 and trophies valued at $200,000, $20,000, $15,000, $7,500 & $7,500 to owner, rider, trainer, strapper and breeder respectively
Second - $1,000,000 $1,100,000
Third - $500,000 $550,000
Fourth - $300,000 $350,000
Fifth - $200,000 $230,000
Sixth - $150,000 $160,000
Seventh - $150,000 $160,000
Eighth - $150,000 $160,000
Ninth - $150,000 $160,000
Tenth - $150,000 $160,000
Eleventh - $150,000 $160,000
Twelfth - $150,000 $160,000

For horses earning prizemoney for being placed 1st – 12th inclusive, respective prizemonies payable shall be distributed as follows:
Owner - 85%; Trainer - 10%; Rider - 5%