Melbourne Cup popularity has surged with a record $247.4m wagered on Australia’s biggest race alone.

Australians punted $382.5m in a domestic betting bonanza to deliver the biggest wagering Melbourne Cup Day of all time.

Exclusive figures obtained by this masthead reveal Melbourne Cup Day wagering surged 11 per cent year-on-year.

The Cup alone spiked 16 per cent year-on-year.

The Melbourne Cup has traditionally generated more than four times the wagering turnover of any other race in Australia.

A renewed appetite in the overall Melbourne race day experience, including fashion and entertainment, especially from younger demographics, most notably, and strong international participation fuelled Cup interest.

Newly-crowned Cups’ queen Jamie Melham’s successful and historic bid to become the first female jockey to complete the Caulfield-Melbourne Cup double, on Tony and Calvin McEvoy-trained Half Yours, attracted interest from casual once-a-year punters too.

The remarkable domestic wagering figures surpassed Melbourne Cup Day records set in 2021 at $375.6m when Verry Elleegant won the race that stops a nation.

The 2022 Melbourne Cup won by Gold Trip held the previous single race record of $225.8m.

The post-Covid years were considered unattainable wagering high water marks as punters had disposable income and limited other sporting options at the time.

The 2025 Melbourne Cup delivered a record wagering result Picture: Michael Klein

This masthead understands the VRC even budgeted for a slight decline in domestic wagering turnover this year, in line with macroeconomic conditions and national trends.

Wagering plummeted from the sugar hit Covid highs but steadied more recently to about 7-10 per cent decline.

Half Yours winning the Cup was a good result for bookmakers generally too despite the rising star being strong in the market.

Irish international Al Riffa and French raider Presage Nocturne were heavily backed in the Cup by big players, along with Valiant King.

The trio were all unplaced in the Melbourne Cup.

Victoria Racing Club chief executive Kylie Rogers welcomed the wagering results and overall Melbourne Cup success.

“The record-breaking wagering turnover and exceptional broadcast reach on Lexus Melbourne Cup Day are two significant examples of the overall success of the 2025 Melbourne Cup Carnival,” Rogers said.

“There was genuine excitement and engagement across the entire week, reflected in strong performances across all key metrics.

“We’re thrilled with the results and now look forward to building on this momentum.”

286,746 patrons attended the four day Melbourne Cup carnival Picture: Vince Caligiuri/Getty Images)

Flemington hosted 286,746 patrons across the Melbourne Cup Carnival, including 84,374 on Melbourne Cup Day.

The VRC hoped to surpass 300,000 patrons for the first time since 2018 but inclement weather Cup week softened the walk-up turnout.

The VRC and Racing Victoria are set to announce Melbourne Cup and Spring Carnival figures, including economic benefits, in coming weeks.

The Cup Carnival broadcast was also well-received this year, with a National Total TV reach of 2.3m – up nine per cent year-on-year.

The total audience was above two million for the first time since 2018.