The Everest tomorrow at Royal Randwick is the richest horse race on turf — with A$10 million up for grabs.

It's only surpassed by Florida’s Pegasus World Cup (US$16 million purse in January, 2018) and the Dubai World Cup (US$10 million — with plans to raise it to US$20 million by 2020).

Those two races are run on dirt though, hence why tomorrow's Tabcorp-sponsored race is being promoted as the richest race of its kind. It is also the richest sprint in the world, as the two headline races of the World Cup meets are run over middle-distances.

The newest addition to Sydney’s Spring Carnival, The Everest is a weight-for-age race over 1200 metres, that will feature sprinting guns like Chautauqua, She Will Reign and Vega Magic.

Modelled on the Pegasus concept, an investor can purchase an entry slot in the field, of which there are 12, for $1.8 million over three years, and then the slot-owners can trade their position or alternatively partner with owners not holding a slot to enter a horse in the final field for the race.

Owners include Chinese billionaire Yuesheng Zhang, racing training businesses such as Coolmore and Aquis Farm, Tabcorp and The Star Entertainment Group.

The prizemoney pool — which is fully-funded from entry fees and additional revenues generated from the event — will see $5.8 million go to the winning connections.

It is a much-needed boost to Racing NSW, which is annually overshadowed by Melbourne spring races like the Cox Plate and Melbourne Cup.

With helicopter arrivals and Jason Derulo performing a free concert at the conclusion of the meeting, it has well and truly established itself as a must-attend on Sydney’s social calendar.

Indeed, so anticipated is the race-day that Royal Randwick is preparing for its biggest crowd this century. More than 35,000 are expected to roll through the gates, which would eclipse every attendance high since 50,000 people watched on as Octagonal won a thrilling 1996 AJC (now ATC) Australian Derby over fellow champions Saintly and Filante.

You can win $10 million too

The TAB is offering customers the chance to take home more prizemoney than The Everest’s winning connections.

In a special promotion, customers can pick up a cool $10 million if they successfully pick the top-10 horses in the race in the correct order.

Of course, the winnings will be shared if more than one customer can achieve the unthinkable.

Total betting on The Everest is expected to exceed that of the Golden Slipper, which has traditionally attract the most money from NSW punters.

The barrier stalls will open for The Everest at 4.15pm on Saturday — this year’s Golden Slipper winner She Will Reign is the favourite.