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Well Written is a dominant favourite for the 3yo Karaka Millions

Well Written is a dominant favourite for the 3yo Karaka Millions

Well Written proves she’s NZ’s best. Australasia is next

Five from five, a five-length romp, and still learning - Well Written is a star on the rise.

Matt Welsh by Matt Welsh
January 24, 2026
in News
Reading Time: 3 mins read
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There are wins, and then there are statements.

Well Written’s demolition job in the 3YO Karaka Millions was the latter. Sent out a $1.25 favourite on the World Pool after being crunched in betting late, the Stephen Marsh-trained filly didn’t just justify the quote, she made a mockery of it.

She did it the hard way, too. Settling in the second half of the field, Well Written was held up approaching the home bend while others were already building momentum. For a few strides, her backers had to be patient. Once the gap came, the race was over in a matter of seconds.

Ridden with confidence by in-form Australian jockey Matt Cartwright, who continues to build a strong reputation in New Zealand, Well Written quickly set out after leader He Who Dares. By the 200m mark she had put that rival away, and from there it was a procession. She coasted to the line to score by five lengths, eased down late, with plenty left in the tank.

A CHAMPION EMERGES IN NZ🥝

Well Written with an early contender for win of the year in the 3YO Karaka Millions, she is five from five with the world at her feet💥 pic.twitter.com/bck8E6QnfE

— 7HorseRacing 🐎 (@7horseracing) January 24, 2026

The scary part for her rivals is that she is still learning. She was not perfectly balanced in the straight and still showed signs of greenness, yet she was able to produce a withering turn of foot that instantly ended the contest. It was the performance of a filly with a serious engine and an even higher ceiling.

That victory takes her record to five wins from five starts, and there has been a common theme throughout her short but explosive career. She does not just beat horses. She buries them. Margins, ease of victory, and the way she travels in her races all point to a filly with genuine star quality.

Saturday may well have answered the question of whether she is the best horse in New Zealand right now. The cold light of day will allow the numbers to be crunched and the ratings to be confirmed, but on first glance it is hard not to be excited.

The more intriguing question now sits across the Tasman. Where does Well Written rank in the broader Australasian landscape?

The depth of elite three-year-olds in Australia is always strong, but history tells us one thing clearly: high-class New Zealand three-year-olds more often than not measure up when they cross the Tasman. One suspects Well Written will do just that when she makes the trip.

Stephen Marsh is no stranger to bringing horses across to Australia, and he was quoted pre-race as suggesting a trip west was on the cards. His stable understands what it takes to compete on the bigger stages, and that experience only strengthens the case that Well Written will not just make the trip, but be set for the right races when she does.

The immediate target is the $4 million NZB Kiwi over 1500m in March, which shapes as her grand final for the season. Yulong owns 50 per cent of Well Written, and racing manager Troy Stephens believes there is still more to come from the filly.

“There’s a bit of time between that race and the $4 million NZB Kiwi over 1500m and that will be her grand final,” Stephens said.

Looking further ahead, an Australian campaign is firmly in the conversation.

“After that it will be a matter of sitting down with Stephen Marsh and the ownership group because we don’t own her outright. Whether she stays in New Zealand or comes over here because there are some pretty big targets for her. I do think she can measure up over here.”

For now, she is New Zealand’s headline act. The unbeaten record, the arrogance of her wins and the ease with which she handled Karaka Millions night have stamped her as a genuine star.

The next step is proving it on the biggest stages in Australasia. On what we have seen so far, that is a challenge she looks more than ready to take.

 

Tags: EllerslieKaraka MillionsNZ RacingWell Written
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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