This year's Ballarat Cup will be worth a record $500,000.
The huge $150,000 increase makes the cup the richest race in regional Victoria.
Ballarat Cup Day on Saturday, November 23, will also become the richest race meeting on a regional track in the state as part of significant stakemoney increases across the spring carnival.
Cup Day will offer $1,803,700 in stakes - an increase of $620,000 or 52% on last year.
Each of the 10 races programmed has increased prizemoney,
Ballarat Turf Club chief executive officer Lachlan McKenzie said the club was absolutely thrilled to confirm the "remarkable" increase
"This is an enormous boost for our big day, and will ensure the very best horses, jockeys and trainers will come to Ballarat to compete for the riches on offer."
He said the club was extremely fortunate to be able to offer the most prizemoney ever for a regional race day in Victoria - an achievement made possible in partnership with the State Government, Racing Victoria, Country Racing Victoria and Magic Millions.
In another significant change for Cup Day, the Sportsbet Ballarat Cup will be run over the shorter distance of 2000m, trimmed from 2200m owing the removal of the inner turf track to make way for the synthetic circuit.
Magic Millions 2yo Clockwise Classic, 1000m: $252,200 (up from $202,200)
Magic Millions 3yo and 4yo Classic, 1100m: $151,500 ($101,500.00)
VOBIS Gold Eureka Stockade, 1400m: $175,000 ($150,000)
Benchmark70 handicap, 1100m: $75,000 ($60,000)
McKellar Mile (benchmark78) 1600m: $125,000 ($60,000)
Benchmark78 handicap, 2300m: $125,000 ($60,000)
Benchmark84 handicap, 1400m: $125,000 ($70,000)
Open handicap, 1200m: $150,000 ($70,000)
Ballarat Cup, 2000m: $500,000 ($350,000)
Benchmark78 for mares, 1200m: $125,000 ($60,000)