Redzel has instantly made his owners $5.8 million richer, taking out The Everest at a wet and overcast Royal Randwick.
The horse, trained by father-son pairing Peter and Paul Snowden, led through a majority of the race to finish ahead of Vega Magic and Brave Smash.
The first running of the 12-horse 1200 metre sprint took place on Saturday, with the largest ever horse racing prize pool awaiting the winner.
‘We’ve got a very special bond me and dad. I’m very happy,’ an emotional Paul said of his father as the two embraced.
Redzel has instantly made his owners $5.8 million richer, taking out The Everest at a wet and overcast Royal Randwick
The first running of the event was a huge success, with thousands pouring in to the Sydney racecourse despite the miserable weather
Vega Magic was the favourite heading into the richest race on turf, but was caught in the middle of the pack during the short sprint.
Redzel, who was orphaned as a foal, jumped well and led through a majority of the 1.2 kilometre race. A strong straight was enough to hold off a very fast finishing Vega Magic.
The $10 million pot meant the Snowdens pocketed $5.8 million in under 70 seconds, with the rest of the money being split among the other competitors.
Redzel’s winning equates to $82,857 per second, more than the average wage in Australia.
The first running of the event was a huge success, with thousands pouring in to the Sydney racecourse despite the miserable weather.
Revellers and punters dressed in their best frocks and suits poured in to Royal Randwick ahead of the world’s richest horse race.
The wet and cold weather did not deterred attendees, with people flocking to the venue creating a sea of bright and tropical colours.
Revellers and punters dressed in their best frocks and suits are pouring in to Royal Randwick ahead of the world’s richest horse race
One particularly confident gentleman was spotted donning a bright blue suit splashed with images of flamingos and palm trees
Samantha Jade (pictured) was just one of the celebrities spotted enjoying a day out at races
Jodi Anasta (left) and Nikki Phillips (right) pictured at Myers Fashions on the Field
The wet and cold weather has not deterred attendees, with people flocking to the venue creating a sea of bright and tropical colours
The gloomy weather didn’t stop race goers as many stocked up on a bottle of bubbles
With the silly season kicking into gear, Randwick and racecourses across Australia become a hotbed for the most daring of outfits and ridiculous of behaviour.
One particularly confident gentleman was spotted donning a bright blue suit splashed with images of flamingos and palm trees.
Bright colours and floral patterns appear to be the theme of this year’s fashion trends, with both women and men turning up in such outfits.
Traditional and elaborate headpieces were also in an abundance, ranging from the simple to the strange.
Bright colours and floral patterns appear to be the theme of this year’s fashion trends, with both women and men turning up in such outfits
Traditional and elaborate headpieces were also in an abundance, ranging from the simple to the strange
The silly season kicked into gear at Randwick and other horse racecourses across Australia
Fascinators didn’t appear to be a popular choice with delicate headbands proving to be a popular replacement to the traditional head piece
One race-goer didn’t let chilly weather affect her outfit, donning bright red with a stylish hat
Bright coloured frocks and matching head pieces brightened up the cloudy Sydney day
The miserable weather blanketing the harbour city has encouraged the most creative to work umbrellas into their ensembles.
Victorian style gowns have been partnered with the matching and necessary means of getting out of the rain, proof you can spin anything into your advantage.
Most, however, have chosen to ignore the forecast and turn up as if it were a typical sunny Sydney day.
The miserable weather blanketing the harbour city has encouraged creative dressers to work umbrellas into their ensembles
Most have chosen to ignore the forecast and turn up as if it were a typical sunny Sydney day
While many opted for a floral ensemble, some people added a simple touch of the trend to their outfits
Thousands of racegoers watched the richest race in the country, including The Bachelor 2017 contestant Luke McLeod (pictured)
Racing fans were even treated to free hair touch ups at one marquee throughout the day
The Everest features the fastest horses from around Australia for the largest prize money of any race in the world.
Vega Magic is the bookies favourite for the 1.2 kilometre sprint, with Chautauqua and She Will Reign also receive heavy backing.
The big race begins at 4:15pm local time.
Thousands of men and women wore vibrant colours, brightening up the wintery day
A race day attendee flashes a peace sign as she walks through the Randwick Racecourse
Vega Magic is the bookies favourite for the 1.2 kilometre sprint, with Chautauqua and She Will Reign also receive heavy backing
Girls dressed up in their race day best, with white and pale colours popular this Spring season
Friends and family gathered in corporate boxes to watch the races on Saturday and Sunday
Woman rocked their best looks and most daring outfits in bright red and yellow on race day
Josh Parr on Legend of Condor wins race two during The Everest Day at Randwick Racecourse
Randwick racecourse become a hotbed for the most daring of outfits and ridiculous behaviour