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The Everest trophy

The Everest trophy

The Cup is history – the Everest owns today

When I was a kid, the Melbourne Cup was everything. Fast forward to now, and the Cup certainly doesn’t loom as large over the spring.

Matt Welsh by Matt Welsh
September 17, 2025
in Analysis, News
Reading Time: 3 mins read
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The Cup Is History – The Everest Owns Today

When I was a kid, the Melbourne Cup was everything. My first two bets? Both Cup winners: Empire Rose in 1988 and Tawrrific in 1989. That’s how much the race mattered.

Back then, the Cup didn’t just sit on the first Tuesday in November – it framed the entire spring. Cups doubles boards were a feature at the track. You’d sling a couple of doubles on before leaving, walking out with a ticket that could deliver a life-changing payout.

Leading into spring, everyone knew the Cup winners. Their return the next autumn, and again the following spring, was eagerly anticipated. The Aurie’s Star and Liston Stakes were their traditional launching pads, the first steps on arduous Cup journeys. The Cup wasn’t just a race – it was a storyline that spanned seasons, with champions followed every step of the way.

For weeks, every conversation was about the Cup. Who’s weighted well? Who has Bart got that is going to emerge? Who’s the smokey from overseas?

That was the rhythm of spring.

Today? Not Even Close

Fast forward to now, and the Cup certainly doesn’t loom as large over the spring. The 2025 weights came out yesterday and no one batted an eyelid. Once upon a time they were dissected front to back in the papers, but racing rated behind AFL, Cricket, Athletics and Basketball in the Herald Sun – now the biggest reaction was a shrug about whether Al Riffa could carry 59kg. Most punters wouldn’t even know who he is.

On Saturday, Revelare booked his place in the Cup with an Archer win that turned into a glorified sit-sprint. That used to be news. Now it’s filler.

And when young trainer Reece Goodwin – who is born and bred into Victorian racing – says on SEN, “I’d rather win The Everest than the Cup”, he’s only saying out loud what a whole generation already thinks.

Our best horses are sprinters. Have been for decades. And then we have the middle-distance WFA stars, such as Winx. Those who like to follow good horses, ultimately follow those headed to The Everest or Cox Plate.

The Two Races That Matter

The two best races of spring are The Everest and the Cox Plate. Full stop.

An emerging beast is the Golden Eagle, but it’s still got to prove itself.

The Everest has pulled off a marketing miracle. In under a decade it’s gone from gimmick to juggernaut. Twelve horses, six furlongs, $20 million on the table – it’s simple, fast and sexy. It’s exactly what modern punters and casual sports fans want, and it has the country’s best sprinters to match.

Add in a Hong Kong megastar and you’ve got one of the best races that will be run anywhere in the world this year.

The Cox Plate is the other. Forget the rest – this is the race for the purists. The Valley, 2040m, the best horses at weight-for-age, no hiding spots. It produces the great contests, the great rivalries, the great theatre. From Winx to Bonecrusher, it’s the race that tells you who the best horse really is.

With a host of WFA stars set to do battle, the race has been the topic of much debate and discussion for months.

Where Does That Leave the Cup?

The Cup still gets the crowd, the eyeballs and the turnover. It commands the attention of the once-a-year punters. It always will. It’s our public holiday race and it will always have the folklore – Phar Lap, Makybe Diva, Vintage Crop. But it no longer defines the spring.

The Everest and the Cox Plate do. They’re where the best horses go, they’re the races racing people most talk about, they’re the contests that stop punters in their tracks. The Cup? It’s become the race that stops office sweep participants.

That might sound harsh, but it’s the truth. Unless something drastic changes, the Melbourne Cup will remain a great race, but not the race. It’s been overtaken – and the younger generation aren’t even pretending otherwise.

For me, the two most exciting and anticipated races this spring are the Everest and Cox Plate. Not something I thought I’d be saying as a 6yo cheering on Empire Rose, thinking the Melbourne Cup was the greatest thing ever invented.

 

Tags: Bart CummingsCox PlateMelbourne CupSpring CarnivalThe Everest
Matt Welsh

Matt Welsh

Matt Welsh is the founder of Betsy and one of Australia’s most respected form analysts. A former executive at Racing.com and Racing Victoria, Matt has built a reputation for market-leading analysis, clear communication, and a deep understanding of both racing and wagering. With Betsy, he has assembled a team of trusted, high-quality form analysts dedicated to delivering expert analysis that will arm Betsy punters for a winning day at the races.

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