As prize money continues to increase, more money has been pumped into reducing the slot holders’ risk. But there will still be losers on Saturday.
On the first day of the final week before The Everest, word filtered through the last remaining slot-holder had finally chosen their horse for the $20 million race, ending a year-long marathon to assemble the field.
“You can be left holding the baby if you leave it too late,” warned Arrowfield Stud supremo and slot-holder John Messara, who ironically parachuted Mazu into the race more than a year ago. The Everest slot-holders Yuesheng Zhang, Sheikh Mohammed bin Rashid Al Maktoum, Henry Field and John Messara. The beauty of The Everest in its formative years, from a neutral point of view, was the massive risk undertaken by the uber-wealthy slot-holders, a combination of corporate giants such as the ASX-listed Tabcorp and The Star, and global racing behemoths such as Coolmore Stud and Zhang. If your horse finished sixth or worse in the inaugural race in 2017, the prizemoney was only $175,000 for a $600,000 investment.
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