Build-up to 2010 Melbourne Cup already underway

The build-up to the 2010 Melbourne Cup has already begun after officials announced the prize money for next year's event was increasing to a record $6 million.

Victoria Racing Club (VRC) announced the hike as it outlined how it aims to promote the race ahead of its 150th appearance.

The club has worked with race sponsors Emirates to produce the $500,000 increase in the pot, and a plan is in place to promote the 2010 cup at home and overseas.

VRC chairman Rod Fitzroy said: "This will see the Emirates Melbourne Cup retain its position as the richest handicap race and the most iconic 'two mile' race in the world, and ensure its impact continues to be felt around the globe."

The news is sure to keep horse racing betting fans interested in the race that stops a nation, with a record amount of cash bet on this year's event.

Other changes already announced include alterations for the design of the cup itself, with a return to the style of the trophy won in 1930 by Phar Lap.

The Melbourne Cup Carnival comes to an end at Flemington on Saturday, with nine races on the card, including the highlight of the group 1 Emirates Stakes.

Tuesday's 2009 Melbourne Cup was won by Mark Kavanagh-trained Shocking, who denied master trainer Bart Cummings a 13th Cup.