<P> Weights were theoretically calculated to give each horse an equal winning chance in the past, but in recent years the rules were adjusted to a "quality handicap" formula where superior horses are given less severe weight penalties than under pure handicap rules . </P> <P> After the declaration of weights for the Melbourne Cup, the winner of any handicap flat race of the advertised value of A $55,000 or over to the winner, or an internationally recognised Listed, Group, or Graded handicap flat race, shall carry such additional weight (if any), for each win, as the VRC Handicapper shall determine . </P> <P> Entries for the Melbourne Cup usually close during the first week of August . The initial entry fee is $600 per horse . Around 300 to 400 horses are nominated each year, but the final field is limited to 24 starters . Following the allocation of weights, the owner of each horse must on four occasions before the race in November, declare the horse as an acceptor and pay a fee . First acceptance is $960, second acceptance is $1,450 and third acceptance is $2,420 . The final acceptance fee, on the Saturday prior to the race, is $45,375 . Should a horse be balloted out of the final field, the final declaration fee is refunded . </P> <P> The race directors retain the absolute discretion to exclude any horse from the race, or exempt any horse from the ballot on the race, but in order to reduce the field to the safety limit of 24, horses are balloted out based on a number of factors which include: </P>

Cost to enter a horse in the melbourne cup
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