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Dubai ruler increases cash prize for horse racing World Cup

Dubai ruler increases cash prize for horse racing World Cup

Dubai has lost its title as ‘the world’s richest horse race’ to international rivals in recent years

UAE Vice President and Prime Minister and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has announced plans to increase the award for the Dubai World Cup to more than Dhs44m ($12m).

The new prize represents a $2m increase on this year’s $10m top prize won by Thunder Snow, part of Sheikh Mohammed’s Godolphin stable.

Read: Godolphin’s Thunder Snow wins $10m Dubai World Cup

The overall cash prize pool will also be increased to about Dhs129m ($35m).

The decision to increase the prize pool comes amid increasing competition among international horse racing events.

In 2017, Austrian-born Canadian businessman Frank Stronach’s company opened the inaugural Pegasus World Cup, a new thoroughbred race held at Gulfstream Park in Florida, US, with a $12m cash prize.

The prize money was increased further to $16m at this year’s event.

Read: Dubai to lose world’s richest horse race crown?

Earlier this year, Saudi Arabia also announced plans for a horse racing competition with prizes totalling more than $17m.

Read: Saudi to rival Dubai with $17m horse racing championship

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