The Victorian Gambling and Casino Control Commission has issued guidelines for running Melbourne Cup sweeps legally, emphasizing two main rules: the total prize pool must not exceed $5,000, and all collected money must be returned as prize money with no deductions for costs or administration. Sweeps, a popular tradition on Cup Day, involve randomly assigning each participant one of the 24 horses, with prizes typically awarded to the first, second, third, and last place finishers. Organizers must clearly communicate terms regarding horse withdrawals and can choose to run sweeps on an “all-in” basis or offer refunds and adjust prizes accordingly.

These sweeps can be held anywhere, from workplaces to pubs, with no set entry fee limits. However, they differ from Calcutta Sweepstakes, which require a permit from the Minister for Racing and must go through an approval process via the Department of Racing. This regulatory framework ensures that Melbourne Cup sweeps remain a fun, lawful activity for participants across Victoria.