Tabcorp has announced it is major sponsor to Racing NSW’s first ever running of The TAB Everest – touted as the “world’s richest turf race” with $10 million prize money.
For many years Racing Victoria’s Spring Racing Carnival, culminating with the legendary Melbourne Cup, has dominated the Australian racing scene and beyond.
Racing NSW, formerly the Australian Jockey Club (AJC), in association with the NSW State Government, has created The Everest $10m 1200-metre sprint, to capture some of the excitement and interest in racing.
Tabcorp was announced as major partner at an event at The Star on Friday, and is backing its commitment with a horse in the race, English, trained by Gai Waterhouse. Ten TAB customers stand a chance to win $100k each if English wins the inaugural The Everest.
“The Everest is an exciting concept and we’re thrilled to support Racing NSW through our sponsorship of the big race,” said Tabcorp chief marketing officer Claire Murphy. “It is such a great opportunity for our brand.
“For us, the sponsorship and our TAB slot are about taking the excitement of a $10 million race to our punters.
“This investment is not just about our brand, it’s about our customers, and we want them to share in the unique experience The TAB Everest brings.”
The Everest is cleverly marketed as the ‘World’s richest turf race’ – being run on a grassy Royal Randwick. The annual Dubai World Cup offers US$10m (AU$12.6m), but is run on a dirt track.
The $10m prize money being offered in The Everest is made up of the 12 entry slots, each paying $600k to race, with the remaining $2.8m coming through other revenues and sponsorship. All slots for the 2017 race were sold well in advance, with purchase requiring a three-year commitment to attend.
Australia’s previous biggest prize pool will this year put up $6m, split between the first ten place-getters. Run over 3,200 metres, it is a ‘stayers’ race, as opposed to the hand-and-heels sprint that will be The Everest.
Pub industry stalwart Max Hitchins is the world’s foremost authority on the Melbourne Cup, able to cite every winner and placegetter since the famous race began. A celebrated analyst and predictor of upcoming Cup winners, Hitchins’ favourite 2016 pick Heartbreak City was pipped at the line by his other choice, winner Almandin.
PubTIC asked the venerated Melbourne Cup Max his thoughts on the big new event for Sydney.
“I commend Peter V’landys and his team at Racing NSW for initiating ‘The Everest’ concept.
“It’s an exciting idea at an already exciting time of year … Spring Carnival time … wow! Congratulations,” offered Max.
Hitchins spends hundreds of hours each year researching everything to do with the Melbourne Cup contenders, and runs a subscriber service that produces an extensive assessment and best advice for punters.
The TAB Everest will be run at Royal Randwick on Saturday 14 October.
The Everest Prize Money – Full Breakdown
| Placing | Prize $ |
| 1st | $5,800,000 |
| 2nd | $1,425,000 |
| 3rd | $800,000 |
| 4th | $400,000 |
| 5th | $250,000 |
| 6th-12th | $175,000 |
*$100,000 to Equine Welfare Fund
Melbourne Cup Prize Money – Full Breakdown
| Placing | Prize $ |
| 1st | $3,600,000 |
| 2nd | $900,000 |
| 3rd | $450,000 |
| 4th | $250,000 |
| 5th | $175,000 |
| 6th | $125,000 |
| 7th | $125,000 |
| 8th | $125,000 |
| 9th | $125,000 |
| 10th | $125,000 |