How to Split Prize Money in a Melbourne Cup Sweep
Once all entries are taken and the sweep is drawn, the big question is how to divide the prize pool fairly. There’s no single “correct” way — but there are a few common payout formats that most pubs, clubs and workplaces use.
This guide explains those formats in plain language, so you can pick one that suits your crowd and announce it confidently before the race begins.
Last Updated on October 12, 2025
The Golden Rule — Announce Prize Splits Before the Draw
Prize disputes don’t usually come from the amount — they come from unclear expectations.
Before drawing horses, simply say:
“Entry is $5, and we’re paying 50% for first, 30% for second, 20% for third.”
Once it’s said upfront, there’s nothing to argue about later.
If you’re unsure how to run the draw itself, see the How to Run a Sweep guide first.
Common Prize Split Methods (Popular in Pubs & Workplaces)
Here are the most common payout formats across Australia:
Winner Takes All
All prize money goes to the person with the winning horse. Best for small office sweeps or quick $2 entries.Classic 50/30/20 Split
50% for 1st, 30% for 2nd, 20% for 3rd. This is the most used venue format, especially when the sweep pot is bigger.70/20/10 Heavy First Payout
Heavily weighted to the winner to build excitement, with smaller amounts for 2nd and 3rd.Include a Last Place Prize (Fun Option)
Some sweeps give a prize to the horse that finishes last — e.g. 50% first, 30% second, 20% last. This keeps patrons watching until the end.
If fairness is a concern, the Keep Sweep Fair guide has good tips on handling payouts without drama.
Handling Scratchings and Refunds
If a horse is scratched before the race starts, you have two fair options:
Refund the entry (most common in workplaces)
Redraw a new horse from the unassigned pile (common in pubs)
Make your approach clear upfront. More on this in the Sweep Rules guide.
Leftover Horses — What to Do if You Don’t Have 24 Entries
If your sweep has fewer than 24 entries:
Option 1: Leave the extra horses unused — only drawn entries are valid
Option 2: Redraw the remaining horses among current players (gives extra chances)
Option 3: Run Sweep A and Sweep B if you have 40–60 names in a venue setting
There’s no right or wrong method — just decide early and announce it.
Digital Payout Calculators (Optional Mention)
Some organisers now use digital sweep tools that automatically calculate prize splits based on entry price and number of players — removing mental math at the bar.
If you're comparing paper and digital handling, the Digital vs Paper guide (link: /digital-vs-paper) outlines the difference without trying to sell you on it.
FAQs — Prize Splits & Payouts
Do I have to include 2nd and 3rd place payouts?
No — some sweeps keep it simple with Winner Takes All. Including smaller prizes just makes it feel fairer when more people are involved.
Can I change the prize split after the draw starts?
It’s best not to. Once names are assigned to horses, changing the payout feels unfair — always declare it before drawing.
What if everyone wants a different split?
Pick the split that suits the tone of your group — casual office sweeps work well with Winner Takes All, while pub sweeps feel better with three payouts.
Do I need to write the prize breakdown on the sheet?
It’s not required, but many organisers write it at the top of the sweep sheet for clarity. If you’re unsure how to layout a sheet, see the Paper Sweep Templates Explained guide.
This guide is part of our Melbourne Cup Sweep knowledge base, covering setup, rules, prize payouts, templates and digital sweep tools.