(CNN) In horse racing, the rich tend to get richer. Prize funds are growing, and in a select handful of uber-rich races the pot can be eye-popping.

In 2020, the Saudi Cup will boast the highest prize money in the world with a bounty of $20 million.

Simply put, the sport of kings can yield a king's ransom.

Here is a look at some of the richest events on the horse racing calendar.

The Pegasus World Cup was the richest horse race in 2018.

Saudi Cup

Just when you thought prize money in horse racing couldn't get any more lucrative, the Saudi Cup has come along.

Announced by Prince Bandar bin Khalid Al Faisal, the race will have a $20 million pot and will be run at the King Abdulaziz Racetrack in Riyadh in February 2020.

The winning horse will win a staggering $10 million, with horses down to 10th place earning a diminishing share of the remaining$10M.

The race will be held over nine furlongs (1800 meters) on dirt and will include a maximum field of 14 starters.

In an already packed racing schedule, the new race slots in between the Pegasus World Cup and the Dubai World Cup at Meydan, giving horses and riders the opportunity to compete in all three of the most valuable dirt races in the world.

The race will be free to enter and free to run in, and the Jockey Club of Saudi Arabia have agreed to arrange and fund the shipment of all invited horses.

Pegasus World Cup

Introduced in 2017 as the richest race on the planet , the Pegasus World Cup is the epitome of American lavishness. The nine-furlong (1⅛ miles ) race is run over a dirt track at Gulfstream Park, Florida and is intended as a showdown for experienced racers of four years old or above.

For its second running in 2018, the prize pot was boosted by $4 million to $16 million with an entry fee for each of the 12 slots of $1 million. The organizer added the rest.

The winner, Gun Runner, collected an astonishing $7 million in 2018.

However, for 2019 the prize pot was split across two Grade 1 races -- the Pegasus World Cup Invitational and the new Pegasus World Cup Turf Invitational over 1 3/16 miles.

The revamped Pegasus World Cup Invitational commands a prize fund of $9 million with $4 million going to the winner, while the turf race offers a pot of $7 million with the winner bagging $3 million.

Entry to each race costs $500,000 with an owner scooping a bonus $1 million if they win both events.

Photos: Horse racing's new powerplay Belinda Stronach is the brains behind Saturday's Pegasus World Cup, which was the world's richest horse race last year -- with a $16 million prize purse. Hide Caption 1 of 7 Photos: Horse racing's new powerplay A former politician, Stronach ran to become leader of the Canada's Conservative Party in 2004. She served as an MP from 2004-2008, switching her allegiance to join the Liberal Party in 2005. Hide Caption 2 of 7 Photos: Horse racing's new powerplay Now she is immersed in the racing industry, running her family's Stronach Group empire. Here she is pictured at the 2016 Breeders' Cup in California with actress and model Emily Ratajkowski. Hide Caption 3 of 7 Photos: Horse racing's new powerplay Arrogate -- named World's Best Racehorse in 2016 -- beat California Chrome in a classic final duel to win the inaugural 2017 Pegasus World Cup, then worth $12 million in total. Hide Caption 4 of 7 Photos: Horse racing's new powerplay Gun Runner, winner of the Breeders' Cup Classic in November 2017, won the second running of the Pegasus World Cup last year. Hide Caption 5 of 7 Photos: Horse racing's new powerplay The 2019 edition will include a new turf-race, which hopes to attract a more international field. The $16 million purse will not be split between the two Grade 1 races. Hide Caption 6 of 7 Photos: Horse racing's new powerplay The Pegasus World Cup combines racing with popular culture. Many top musicians have performed at the event, with Snoop Dog scheduled to headline this year. Hide Caption 7 of 7

The Dubai World Cup

Held at the Meydan Racecourse, United Arab Emirates (UAE), the Grade 1 race has been run every year since 1996, marking the end of the UAE racing season.

The prize fund has been boosted to $12M and the winner of the 2019 edition will take home an eye-watering $7.2 million.

Godolphin, the racing stable of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, has particularly enjoyed the event. It celebrated its record seventh victory in 2018 as Thunder Snow, trained by Saeed bin Suroor, set a new dirt-track record.

Run over mile-and-a-quarter (10 furlongs), the race invites four-year-olds or above from the Northern Hemisphere and three-year-olds or above from the Southern Hemisphere.

Photos: Thunder Snow strides to victory Thunder Snow recorded a stunning victory in Saturday's $10 million Dubai World Cup at the Meydan racecourse. Hide Caption 1 of 5 Photos: Thunder Snow strides to victory It was Belgian jockey Christophe Soumillon's first win in the race, which was formerly the richest in the world. Hide Caption 2 of 5 Photos: Thunder Snow strides to victory It was a seventh win in the race for the Godolphin stable and a sixth for trainer Saeed Bin Suroor. Hide Caption 3 of 5 Photos: Thunder Snow strides to victory Last May, Thunder Snow bucked before pulling up early in the Kentucky Derby. On Saturday, the Irish thoroughbred looked far more assured. Hide Caption 4 of 5 Photos: Thunder Snow strides to victory The race takes place in front of the enormous grandstand at the Meydan track. Hide Caption 5 of 5

The Everest

Australia hosts the world's richest race on turf.

Run over six furlongs, The Everest brings the world's top sprinters together at Royal Randwick, Sydney. It's only been in existence for two years but has already surpassed the Melbourne Cup as the country's richest race.

There's only been one winner of the race since its inauguration in 2017, with Redzel clinching back-to-back titles.

There are 12 places up for grabs, each costing the owners about $400,000, but the payoff can be huge. Race organizers hiked up the prize money in 2018 with the winner swiping $4.5 million.

The Everest's prize pot is set to rise to $10 million in 2019 and higher again in 2020.

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The Breeders' Cup Classic

Back to the United States for another giant in the world of sprint racing. The Breeders' Cup Classic attracts the best thoroughbreds, with the winner being treated to just over half of the $6 million prize pot.

Restricted to three-year-olds or above, the race is considered the unofficial fourth leg of the prestigious Triple Crown and is often a big factor in deciding Horse of the Year.

The mile-and-a-quarter event run on dirt has been in existence since 1984, and the latest edition was won by the aptly named Accelerate.

Uniquely, the race is held at a different location each year and has only once been hosted outside of the USA -- the 1996 edition was held in Ontario, Canada.

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Prix de l'Arc de Triomphe

The glitz and glamor of the European racing world unite once a year for the continent's richest horse race.

The Prix de l'Arc de Triomphe is a mile-and-a-half test of speed and stamina for three-year-olds and above, with the winner earning $3.2 million out of a fund of $5.6M.

After a $145 million facelift , Paris' Longchamp Racecourse once again hosts the iconic race after a two-year residency at Chantilly.

The "Arc" has been held at leafy Longchamp for more than 150 years and brings in the very best Europe has to offer.

Legendary jockey Frankie Dettori holds the record for most race wins, securing his sixth on defending champion Enable in 2018. The pair are set to return to attempt a "three-peat" in 2019.

Photos: Longchamp welcomes back Prix de l'Arc de Triomphe Longchamp racecourse is back with a bang ... Hide Caption 1 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe Longchamp Racecourse – An aerial photograph of Longchamp showing Paris and the Eiffel Tower in the distance. The racecourse has undergone a $145M revamp. Hide Caption 2 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe The new grandstand was designed by architect Dominique Perrault, who took his inspiration from galloping horses. Hide Caption 3 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe It now offers "transparent" views both east towards Paris and the Eiffel Tower, and west across the River Seine. Hide Caption 4 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe Perrault is the architect who is working on the athletes village for the Paris 2024. Hide Caption 5 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe It is hoped that the grandstand will attract business when racing events aren't being staged. Hide Caption 6 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe Longchamp's redevelopment began in October 2015. Hide Caption 7 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe The Prix de l'Arc de Triomphe moved to Chantilly for two years while upgrades at Longchamp were carried out. This year's Arc meeting, on October 6 and 7, will feature 16 flat races, including nine of Group 1 status. Hide Caption 8 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe Longchamp Racecourse first opened in 1857 -- Napoleon III and Empress Eugénie attended. Hide Caption 9 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe Longchamp Racecourse became home to the prestigious Prix de l'Arc de Triomphe in 1920, when horses would compete equally without any handicapping from previous results. Hide Caption 10 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe The name "Prix de l'Arc de Triomphe" was chosen to pay tribute to the French soldiers who served in WWI. Hide Caption 11 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe Britain's Queen Elizabeth II and her husband Prince Philip, Duke of Edinburgh, visited Longchamp Racecourse in 1972 during an official visit to France. Hide Caption 12 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe Each year the grandstands at Longchamp Racecourse fill with the "crème de la crème" of European society. Hide Caption 13 of 14 Photos: Longchamp welcomes back Prix de l'Arc de Triomphe Frankie Dettori celebrates after riding Enable to win the Prix de l'Arc de Triomphe at Chantilly Racecourse on October 1, 2017 in Chantilly, France. Hide Caption 14 of 14

Japan Cup

Japan's richest race is held every year at Tokyo Racecourse, with the world's best three-year-olds and above descending on the country's capital.

It's an invitational contest, limited to 18 places, offering participants a share of the $5.8 million prize pot.

The mile-and-a-half race began in 1981 and has been run every year since.

Home-grown talent has flourished at the event, with every winning trainer and owner coming from Japan since 2008.

Almond Eye is the reigning champion, clinching $2.7 million in the process.

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Honorable mentions

The Melbourne Cup had long been the richest race in Australia before being overtaken by The Everest. The prize pot still sits at about $5.3 million with this year's winner collecting $2.8 million.

The Breeders' Cup Turf is the US showpiece for turf horses, carrying a prize fund of $4 million with winning connections earning $2.2 million.

The Kentucky Derby is one of the world's most iconic races, held every May at Churchill Downs, Kentucky. The mile-and-a-quarter dash on dirt, dubbed "the most exciting two minutes in sports," carries a first prize of $1.425 million.

The Epsom Derby has long been regarded as the richest and most prestigious flat race in the British racing calendar. Run over a mile-and-a-half, it carries a prize fund of at least $1.9 million, with the winner claiming just north of $1 million.