The Dubai World Cup purse has been increased to US$12 million (S$16.3 million), maintaining its status as one of the world's richest horse races.
The Cup, once the richest race with a purse of US$10 million, was eclipsed last year by the Pegasus World Cup Invitational in Florida, which now offers US$16 million.
Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum also issued a directive to increase total prize money of all races held during the Cup to US$35 million, the government media office said on Twitter.
Total prize money for the March 2018 races was US$30 million, according to the Dubai World Cup website www.dubaiworldcup.com.
The increases go into effect for the 2018-2019 season.
The next Dubai World Cup is scheduled for March next year.
This year, Thunder Snow stormed to a shock victory in the Group 1 Dubai World Cup to give Godolphin their seventh win in the race, after holding off favourite West Coast.
Under Belgian jockey Christophe Soumillon, the four-year-old colt led from West Coast and cruised to victory by 53/4 lengths at odds of 8-1 in a track-record time of 2min 1.38sec for 2,000m on dirt.
It gave trainer Saeed bin Suroor an incredible eighth Dubai World Cup win and first since Prince Bishop in 2015, as Godolphin took four of the Group 1 races on the richest day in international racing.
REUTERS, AGENCE FRANCE PRESSE