For ten million dollars and a place in Australian sporting folklore, 24 horses lined up at Flemington on the first Tuesday of November. What followed was a result nobody saw coming — or maybe everyone quietly hoped for. Half Yours, a 53-kilogram runner with a barrier-8 draw, thundered home by three lengths to give jockey Jamie Melham a piece of history she shared with just one other woman in 165 runnings of the race.
Date: 4 November 2025 · Venue: Flemington Racecourse · Prize Money: A$10 million · Starters: 24 horses · Field Declared: 1 November 2025
Quick snapshot
- 165th running at Flemington Racecourse on 4 Nov 2025 (Wikipedia)
- 24 starters declared 1 Nov 2025 (Wikipedia)
- Half Yours won by 3 lengths — first female jockey winner since 2015 (Wikipedia)
- Exact margin between 2nd and 3rd place finishers beyond winner’s 3-length margin
- Full set of weight penalties and acceptances pre-final declaration
- Official post-race veterinary report status for individual horses
- Final field declared 1 Nov 2025 (Wikipedia)
- Barrier draw and final confirmations published 1–3 Nov 2025 (Sporting News)
- Race start at 3:00 PM AEDT, 4 Nov 2025 (Sporting News)
- Analysis of 2026 autumn preparation for winning connections
- Handicapper review of weight-for-age implications
- 2026 nominations and early entries cycle begins
The table below consolidates the core facts from the 165th Melbourne Cup at Flemington Racecourse.
Key figures from the 165th Melbourne Cup
| Detail |
Value |
| Race Date |
4 November 2025 |
| Edition |
165th |
| Distance |
3200m |
| Venue |
Flemington Racecourse |
| Prize Pool |
A$10 million |
| Field Size |
24 starters |
| Winner |
Half Yours |
| Winning Jockey |
Jamie Melham |
| Winning Trainer |
Tony & Calvin McEvoy |
| Winning Margin |
3 lengths |
| Pre-race Favourite |
Al Riffa ($7–$8.50) |
| Final Field Declaration |
1 November 2025 |
Who is the favourite for the Melbourne Cup 2025?
Going into race day, Al Riffa was the public’s pick. The Joseph O’Brien-trained entire started at $7–$8.50 with both Unibet and TAB, drawing barrier 19 under jockey Mark Zahra carrying 59 kilograms — one of the heaviest weights in the field (Sporting News). That heavy impost told. Al Riffa ultimately finished seventh, three lengths behind the winner.
Current odds leaders
The TAB market had Al Riffa and Buckaroo as the joint elect in early markets. Buckaroo, trained by Chris Waller and ridden by Craig Williams from barrier 12, carried 57 kilograms and started at $11–$12 — but the race unravelled badly for the five-runner Waller team. Buckaroo finished last of the 24 starters (ESPN). The winner, Half Yours, had been available at around $8 — a price that looked generous in hindsight.
Form analysis
Half Yours came into the Cup with solid lead-up form, though few would have predicted the authority of the victory. The McEvoy-trained runner broke from barrier 8 under 53 kilograms — one of the lightest weights in the race — and sat midfield before improving sharply around the turn. The three-length win margin was decisive by any measure. Goodie Two Shoes, also from the Joseph O’Brien yard, finished second and attracted plenty of late each-way support at $31 (Wikipedia).
Why this matters
The favourite has a patchy record in recent Cups — but the 2025 result shows how weight-for-age form and a favourable barrier can outweigh market sentiment. Al Riffa’s 59-kilogram impost was the obvious counterargument to his odds, and it played out exactly as the form suggested it might.
What is the Melbourne Cup 2025 final field?
The final 24-horse field was locked in on November 1, 2025, with the barrier draw confirming positions for every runner (Wikipedia). The list featured a mix of established Cup performers, international raiders, and a handful of horses stepping up in trip for the first time.
All horses, jockeys, trainers
The full grid below shows every runner alongside their barrier, jockey, trainer, weight, and result.
Complete 2025 Melbourne Cup final field with barrier, jockey, trainer, and weight
| Horse |
Barrier |
Jockey |
Trainer |
Weight |
Result |
| Half Yours |
8 |
Jamie Melham |
Tony & Calvin McEvoy |
53kg |
1st |
| Goodie Two Shoes |
20 |
Wayne Lordan |
Joseph O’Brien |
— |
2nd |
| Middle Earth |
13 |
Ethan Brown |
Ciaron Maher |
— |
3rd |
| Vauban |
2 |
Blake Shinn |
Gai Waterhouse & Adrian Bott |
56.5kg |
6th |
| Al Riffa |
19 |
Mark Zahra |
Joseph O’Brien |
59kg |
7th |
| Arapaho |
15 |
Rachel King |
Bjorn Baker |
56.5kg |
12th |
| Buckaroo |
12 |
Craig Williams |
Chris Waller |
57kg |
24th |
| Chevalier Rose |
5 |
Damian Lane |
Hisashi Shimizu |
55.5kg |
— |
| Presage Nocturne |
9 |
Stephane Pasquier |
Alessandro Botti |
55.5kg |
— |
| Meydaan |
22 |
James McDonald |
Simon & Ed Crisford |
— |
— |
| Absurde |
4 |
Kerrin McEvoy |
Willie Mullins |
— |
— |
| Land Legend |
16 |
Joao Moreira |
Chris Waller |
— |
— |
| Smokin’ Romans |
11 |
Ben Melham |
Ciaron Maher |
— |
— |
| Changingoftheguard |
24 |
Tim Clark |
Kris Lees |
53kg |
— |
| More Felons |
23 |
Tommy Berry |
Chris Waller |
53kg |
— |
| Onesmoothoperator |
6 |
Harry Coffey |
Brian Ellison |
— |
— |
| Furthur |
7 |
Michael Dee |
Andrew Balding |
— |
— |
| Parchment Party |
3 |
John Velazquez |
William Mott |
— |
— |
| Athabascan |
1 |
Declan Bates |
John O’Shea & Tom Charlton |
— |
— |
| River Of Stars |
14 |
Beau Mertens |
Chris Waller |
— |
— |
| Royal Supremacy |
21 |
Robbie Dolan |
Ciaron Maher |
51kg |
— |
| Torranzino |
18 |
Celine Gaudray |
Paul Preusker |
51kg |
— |
| Valiant King |
10 |
Jye McNeil |
Chris Waller |
51kg |
— |
Barriers drawn
The barrier draw threw up several talking points. Vauban drew the favourable barrier 2 — always a sought-after position at Flemington — but the Gai Waterhouse and Adrian Bott runner finished sixth. Athabascan landed barrier 1 under Declan Bates with the John O’Shea and Tom Charlton partnership, while Changingoftheguard had to contend with the widest draw at barrier 24 under Tim Clark (Races.com.au).
Editor’s note
Chris Waller was the dominant trainer by representation with five runners — Buckaroo, Land Legend, More Felons, River Of Stars, and Valiant King — yet none finished in the first four. Ciaron Maher had three runners including the third-place getter Middle Earth (Sporting News).
Is there an Irish horse in the Melbourne Cup 2025?
Ireland had a strong presence in the 2025 field. Joseph O’Brien — whose yard has a proven Melbourne Cup record — trained two runners: the favourite Al Riffa and Goodie Two Shoes. Both horses arrived with solid European form, and the yard’s ability to target the Australian spring was evident in the pre-race buildup.
Irish contenders
Al Riffa represented the primary Irish challenge, carrying 59 kilograms with Mark Zahra aboard — a substantial weight that made the favourite’s task harder than the price suggested. Goodie Two Shoes, drawn barrier 20 under Wayne Lordan, ran a storming second at $31 odds, proving the Irish raid was far from a one-horse show (Sporting News).
International runners
Beyond the Irish contingent, Willie Mullins — one of jump racing’s most successful conditioners — sent Absurde (barrier 4, Kerrin McEvoy) to Flemington, while British handler Andrew Balding was represented by Furthur (barrier 7, Michael Dee). The Simon and Ed Crisford-trained Meydaan (barrier 22, James McDonald) added further international depth. American-based William Mott also had a runner in Parchment Party (barrier 3, John Velazquez), drawing on his extensive experience with Cup performers.
The upshot
Irish and international runners have long been a feature of the Melbourne Cup, but 2025 showed the depth of foreign participation. Three nations — Ireland, Britain, and the United States — all had runners in a race won by an Australian-bred mare carrying just 53 kilograms.
Who is performing at the Melbourne Cup 2025?
Beyond the track action, the Melbourne Cup carnival is a major entertainment event. Flemington’s four-day carnival combines racing with live performances, corporate hospitality, and cultural programming that draws hundreds of thousands of spectators to the venue and broadcasts to millions nationally.
Entertainment lineup
The Victoria Racing Club coordinates the carnival entertainment schedule across the four days of the spring meeting at Flemington. The race-day entertainment typically includes live music, celebrity appearances, and curated dining experiences. While specific performer lineups shift annually, the Carnival is positioned as one of Melbourne’s premier social and sporting occasions, attracting both racing enthusiasts and first-time attendees drawn by the event’s broader cultural profile.
Carnival events
The Melbourne Cup Carnival spans four days: Derby Day, Melbourne Cup Day, Oaks Day, and Stakes Day. Each day carries its own identity — Derby Day focuses on feature racing with a black-tie dress code tradition, while Oaks Day has become synonymous with fashion and hats. Melbourne Cup Day itself centres on the feature race, with the highest attendance of the four days focused on the 3:00 PM AEDT start.
Why has Jamie Melham been suspended?
Jamie Melham has served race-day suspensions throughout her career, consistent with the standard disciplinary framework administered by Racing Victoria. The 10-meeting suspension mentioned in racing coverage is part of the standard penalty structure for code of conduct breaches in Australian thoroughbred racing, applied equally across jockey ranks regardless of achievement.
Suspension details
The specifics of any suspension are determined through the Racing Victoria stewards’ process, which includes a formal inquiry, evidence presentation, and opportunity for the jockey to respond. Penalties scale based on the nature and severity of the breach, with jockeys typically eligible to appeal decisions through the VR Appeal Panel.
Impact on field
Despite the distraction of suspension proceedings, Melham delivered a perfectly timed run aboard Half Yours. Her performance under pressure — navigating a midfield position, improving around the turn, and quickening decisively — suggested the Cup victory was no accident. The win silenced whatever doubts lingered about her ability to perform on the biggest stage (Wikipedia).
The paradox
Jamie Melham’s Melbourne Cup win landed almost exactly ten years after Michelle Payne broke through as the first female jockey to win the race in 2015 — and yet, in that decade, only one other woman had managed the feat. The milestone that felt like a door opening in 2015 turned out to be more of a crack. That context makes the 2025 result both a personal triumph and a quieter statement about the pace of change in Australian racing.
Melbourne Cup 2025 Timeline
Early 2025
Nominations open for the 165th Melbourne Cup
1 November 2025
Final 24-horse field declared and barrier draw published
1–3 November 2025
Final acceptances, weight confirmations, and last-minute odds fluctuations
4 November 2025 — 3:00 PM AEDT
165th Melbourne Cup run over 3200m at Flemington Racecourse
Post-race
Results confirmed, winner ceremony, official race replays published
Confirmed facts
- Winner Half Yours, jockey Jamie Melham, trainer Tony & Calvin McEvoy
- Final field of 24 declared 1 November 2025
- 165th edition, 3200m at Flemington, 4 November 2025
- Prize money A$10 million
- Al Riffa pre-race favourite at $7–$8.50, finished 7th
- Buckaroo last of 24 under 57kg from barrier 12
- Three-length winning margin for Half Yours
- Goodie Two Shoes (Joseph O’Brien) runner-up at $31
- Middle Earth (Ciaron Maher) third at $19 pre-race odds
What’s unclear
- Exact 2nd/3rd margin beyond winner’s 3-length advantage
- Post-race veterinary status for individual finishers
- Full weight penalty breakdown for all 24 starters
- Pre-race odds for horses beyond top handful
What they’re saying
Half Yours the history-maker, won the Lexus Melbourne Cup by three lengths!
— Race caller, Wikipedia race coverage
Half Yours is coming clear, for Jamie Melham and the Cups Double.
— Network Ten race commentator, YouTube race replay
The race-day commentary captured both the magnitude and the intimacy of the moment — a horse that had quietly gone about his business, a jockey whose name will now sit alongside Michelle Payne’s in the record books, and a trainer partnership in Tony and Calvin McEvoy that had prepared the runner with evident care.
Bottom line: Half Yours was a genuinely talented horse at the right weight carrying 53 kilograms who got a clean passage from barrier 8 and delivered. Jamie Melham’s historic win says more about the patience of her connections than about racing broadly — but for anyone who watched her coolly position the favourite before the turn, the result wasn’t a surprise. The market got it wrong on Al Riffa at 59 kilograms, and the Waller five-runner strategy backfired spectacularly. For punters who backed the value at $8 and women riding in Australian racing, the 2025 Cup delivered something rarer than a result — a moment worth remembering.
Related reading: 2025 NRL Ladder: Raiders Minor Premiers & Final Standings
Similar to the full field analysis highlighting international runners, Half Yours claimed victory by three lengths from barrier 8 under Jamie Melham.
Frequently asked questions
What are the 2025 Melbourne Cup results?
Half Yours won the 165th Melbourne Cup by three lengths ahead of Goodie Two Shoes and Middle Earth. Jamie Melham became the second female jockey to win the race. Al Riffa finished seventh as the pre-race favourite.
What is the Melbourne Cup 2025 form guide?
The form guide showed Half Yours entering the Cup with solid lead-up performances at 3200m, carrying one of the lightest weights at 53 kilograms from a convenient barrier-8 draw. Al Riffa carried 59 kilograms — the heaviest impost — which compromised his prospects despite strong early-season European form.
Who won the Melbourne Cup 2025?
Half Yours, trained by Tony and Calvin McEvoy and ridden by Jamie Melham, won the 2025 Melbourne Cup. It was the first win in the race for both the McEvoy yard and Melham, and marked a historic milestone as the second female jockey to win in the race’s 165-year history.
What are the barriers for the 2025 field?
The key barrier positions included barrier 2 (Vauban), barrier 8 (winner Half Yours), barrier 12 (Buckaroo), barrier 19 (favourite Al Riffa), and barrier 24 (Changingoftheguard). The barrier draw was conducted on 1 November 2025.
Which trainers dominate the 2025 Melbourne Cup?
Chris Waller had five runners in the 2025 field — the most of any trainer — but none finished in the first four. Ciaron Maher had three runners including third-place getter Middle Earth. Joseph O’Brien trained two runners, with Goodie Two Shoes finishing second and Al Riffa seventh.
What is the prize money for 2025 Melbourne Cup?
Total prize money for the 2025 Melbourne Cup was A$10 million, an increase of $144,000 from the 2024 edition. The winning horse receives approximately A$6 million with the remainder distributed to placed finishers.
How many horses run in the Melbourne Cup?
The maximum field for the Melbourne Cup is 24 starters. The 2025 edition ran with the full complement of 24 horses, declared on November 1, 2025 — two days before the race and one day after the barrier draw.