With the National Hunt season clicking through the gears on home soil, the wider racing world turned its attention Down Under for last week’s highlight. While the British and Irish raiders came up short in the 2026 Melbourne Cup, winner Point Of Law boasted strong ties to the UK Royal Family. Elsewhere, Billy Loughnane’s star continued to rise as he was confirmed as Godolphin’s new retained rider, and the fallout from the latest budget led to Betfred ending a historic sponsorship deal.
Easy as 1-2-3: Ciaron Maher Makes Melbourne Cup History
| Pos | Horse | SP | Trainer | Jockey |
|---|---|---|---|---|
| 1st | Point Of Law | 6/1F | Ciaron Maher | Ethan Brown |
| 2nd | Zahrann | 25/1 | Ciaron Maher | Ben Melham |
| 3rd | Juja Kibo | 13/1 | Ciaron Maher | Sam Clipperton |
| 4th | Sons And Lovers | 25/1 | Joseph Patrick O’Brien | Dylan Browne McMonagle |
| 5th | Royal Supremacy | 50/1 | Ciaron Maher | Ben Allen |
| 6th | Shockletz | 9/1 | Ciaron Maher | Harry Coffey |
The 2026 Melbourne Cup went under starter’s orders at the ungodly UK time of 4 am on Tuesday, 3 November. No doubt many slept through it, but those who set their alarms or settled in for an all-nighter were rewarded with a truly historic edition. Despite a strong squad, the British and Irish raiders failed to land a meaningful blow in a race dominated by Victoria-based handler Ciaron Maher.
Previously successful in the 2022 edition, when training in partnership with David Eustace, Maher saddled seven of the 23-runner field. Of that septet, the market favoured Point Of Law – a horse familiar to UK racing fans.
Bred by King Charles III and Queen Camilla, this Frankel colt raced four times in the royal silks when based with John & Thady Gosden in Newmarket. His time in Britain ended on a high when he stayed on strongly to claim the Group 3 Bahrain Trophy over 1m5f at HQ. Subsequently sold to race in the colours of Deg Racing, A R E Investments Et Al., Point Of Law made a winning Australian debut in the Geelong Cup to tee up his Melbourne Cup challenge.
The exact sum paid for Point Of Law remains undisclosed. However, he has wasted little time repaying his new owners. £148,514.85 for that Geelong Cup success was a good start but was dwarfed by his Melbourne Cup payday. Travelling nicely into the Flemington straight, his biggest obstacle was securing a clear run. Once the gap opened, the response was electric. Producing a sizzling turn of foot, Point Of Law shot between rivals to score by a widening 3¾l and claim over £2 million in first place prize money. Thankfully the King is not short of cash.
This represented Maher’s first Melbourne Cup success entirely in his own name, but he wasn’t done there. With Zahrann taking second and Juja Kibo third, Maher became the first trainer in history to saddle the 1-2-3 in Australia’s most famous race. Looking further down the finishing order, five of the first six hailed from the Maher yard, making it a truly astonishing feat of training. While the victorious trainer hogged the headlines, this was also a notable success for jockey Ethan Brown, coming three years after a fall at Flemington left him in an induced coma with life-threatening injuries.
Loughnane Joins Buick in Blue: Godolphin Sign Champion Jockey
This year has witnessed its share of equine excellence, with Ombudsman, Blue Bolt, and Sun Goddess all boasting legitimate claims for Cartier Horse of the Year honours. The human star of the season is more concrete, with Billy Loughnane the name on everyone’s lips. Recently crowned the youngest Champion Jockey in over a century, the 20-year-old has agreed to become Godolphin’s new retained rider.
Godolphin announces appointment of Billy Loughnane as a retained jockey – full story at https://t.co/dKqX9zcXqz
— Godolphin (@godolphin) November 4, 2026
This latest news caps a truly memorable campaign for the son of trainer Mark Loughnane. Having finished second in the 2025 Flat Championship, a relentless march to 159 winners saw Billy dethrone defending champion Oisin Murphy. That 159-winner haul included six top-level triumphs, kicking off with Bow Echo in the 2,000 Guineas at Newmarket and ending with Libertango in the Breeders’ Cup Juvenile Turf Sprint.
Billy is no stranger to the royal blue silks, having already ridden over 40 winners for Godolphin as a freelance rider. When formally beginning his new role at the Dubai Carnival in December, he will follow in the footsteps of former Godolphin retained riders Frankie Dettori, Silvestre De Sousa, and James Doyle. Current retained rider William Buick remains in his role, giving Godolphin arguably the strongest two-man jockey team in racing.
Budget Blow Sees Betfred Bow Out of British Classics Sponsorship
Racing expected a blow when the UK Budget was delivered on 28 October 2026, and a blow duly arrived. While General Betting Duty on horse racing remained at 15%, the Budget announced an increase in Machine Games Duty from 20% to 25% for higher-stake and higher-prize machines. Overall, that increase fell towards the lower end of pre-budget predictions. Nevertheless, the first direct impact upon racing came just over a week after the announcement.
Betfred co-founder Fred Done had suggested the bookmaker would walk away from racing sponsorship if the Machine Games Duty increased. As such, the following Betfred statement, released on Thursday 5 November, came as no great surprise.
“Following successive tax rises for the betting industry – and in particular the increase to machine games duty at the most recent budget – it is with great sadness that we have taken the difficult decision not to proceed with a three-year renewal of our sponsorship of the British Classics.”
With this announcement, one of the highest-profile sponsorship arrangements in racing comes to an end. Betfred first sponsored the Epsom Derby and Oaks and the Doncaster St Leger in 2023. When adding the 1,000 and 2,000 Guineas in 2025, Betfred became the first brand to sponsor all five British Classics and earned praise for introducing a new £2 million Triple Crown Bonus.
This development represents a blow to racing, although discussions with potential replacement sponsors are already under way. Looking ahead to the future of the Epsom events, Amy Starkey, Managing Director of The Jockey Club’s London Hub, stated:
“We are currently in conversations with a number of interested prospective partners that share our ambitions for the future of both events, and look forward to sharing more details in due course.”
