Redzel wins world's richest turf race The Everest

Redzel beat Vega Magic in a thrilling inaugural Everest race in Sydney on Saturday, the world's richest on turf that organisers hope will one day rival the prestigious Melbourne Cup.

With Kerrin McEvoy in the saddle, the five-year-old gelding hit the lead with 100 metres to go at Royal Randwick to collect Aus$5.8 million (US$4.6 million) in winnings.

The Craig Williams-ridden Vega Magic was second with Brave Smash third and the world's top-rated sprinter and favourite, seven-year-old Chautauqua, fourth.

"So privileged to be riding this horse. He's so patient this fella," said an elated McEvoy. "It's still early in his career and he's paying the dividends now."

"It couldn’t have worked out any better in the run, we had a dream run outside of the leader. I am over the moon," he said.

The race over 1200 metres (3/4 mile or six furlongs) brought together the 12 best sprinters in Australia, angling for a slice of a whopping Aus$10 million in prize money.

The winnings eclipsed that offered in Australia's iconic Melbourne Cup, where tens of thousands of punters gather in November to watch world champion thoroughbreds race for Aus$6.2 million.

The Dubai World Cup and newly-introduced Pegasus World Cup in the United States carry more prize money, but they are raced on dirt.

Despite the lure of so much cash, the race failed to attract any overseas entrants, controversially clashing with Melbourne's Caulfield carnival, which a host of internationals opted for instead.

But it was still a cracking field with the runners boosting countless titles.

(AFP)