TL;DR
- * Observer, the favorite, won the $2 million Victoria Derby at Flemington.
- * Jockey Mark Zahra secured his fourth win of the day with this victory.
- * Trainer Ciaron Maher praised Observer's adaptability, suggesting a bright future.
- * The top four finishers were Observer, Arcora, Deal Done Fast, and One Step Closer.
The latest edition of one of Australia's most coveted thoroughbred tests - the Victoria Derby - has been run and won at Flemington.
First run in 1885, the $2 million race is one of the world's premier staying contests for three-year-olds.
Victoria Derby 2025 winner and results
Observer was the odds-on favourite for the Derby and he proved to be far too good for the rest of the field as he cruised to victory.
He strode out from the gates to lead by two lengths at the halfway mark of the race as Mark Zahra controlled the tempo before holding off any and all challengers to romp home.
The win was the jockey's fourth win on the day to continue his brilliant run as rank outsider Arcora
and Deal Done Fast were kept at bay.
"What a day - unbelievable," Zahra told Channel Nine.
The sky's the limit for this colt," trainer Ciaron Maher added. "He's just so adaptable."
From start to finish, simply brilliant 💫
— Victoria Racing Club (@FlemingtonVRC) November 1, 2025
OBSERVER takes out the 2025 Howden Victoria Derby.
🎥 @wwos | #DerbyDay | #MelbCupCarnival pic.twitter.com/G2MeXukpce
Derby's top quartet
1. Observer
2. Arcora
3. Deal Done Fast
4. One Step Closer
Derby 2025 cash payout
The total prize money for the Victoria Derby stands at $2 million for 2025.
The winner will take home $1.2 million, while connections from the bottom two finishers will receive $10,000.
| Place | Prize money (AUD) |
| 1st | $1.2 million |
| 2nd | $360,000 |
| 3rd | $180,000 |
| 4th | $90,000 |
| 5th | $50,000 |
| 6th | $40,000 |
| 7th | $40,000 |
| 8th | $40,000 |
Victoria Derby 2025: field, draw & odds
Odds courtesy of Unibet, correct as of October 31, 2025.
| Runner (Barrier) | Jockey | Trainer | Odds |
| 1. Observer (4) | Mark Zahra | Ciaron Maher | $2.20 |
| 2. Highvol (15) | Jamie Mott | Nick Ryan | $26 |
| 3. Autumn Mystery (17) | Blake Shinn | Rory Hunter | $12 |
| 4. Miewa (8) | Jordan Childs | Nick Ryan | $17 |
| 5. Options (7) | Harry Coffey | T & C McEvoy | $13 |
| 6. Providence (12) | Craig Williams | Chris Waller | $7.50 |
| 7. Azazel (10) | Michael Dee | Mark Walker | $26 |
| 8. Arcora (11) | John Allen | T Busuttin & N Young | $41 |
| 9. O'sheamus (5) | Kerrin McEvoy | J O'Shea & T Charlton | $11 |
| 10. Amazake (6) | Dylan Bates | Ciaron Maher | $51 |
| 11. Engine Of War (9) | Tom Berry | M Price & M Kent Jnr | $23 |
| 12. Matsuda (19) | Tom Stockdale | Ciaron Maher | $51 |
| 13. One Step Closer (2) | Jye McNeil | J O'Shea & T Charlton | $51 |
| 14. Savisanta (3) | Ben Melham | Chris Waller | $23 |
| 15. Mcwoody (16) | Jamie Melham | Mark Walker | $81 |
| 16. Deal Done Fast (1) | Daniel Stackhouse | Matt Cumani | $34 |
| 17. Arabian Prince (20) | Craig Williams | Michael Kent | $23 |
| 18. Freddie Bassett (14) | Ben Allen | Annabel & R Archibald | $91 |
| 19. Crack A Deel (13) | TBC | Henry Dwyer | $151 |
| 20. Super Paradise (18) | TBC | Andrew Forsman | $201 |
Victoria Derby conditions
The Victoria Derby is Group 1 race spring three-year-olds.
It is run over a 2500 metre distance and is a test of speed and endurance.
Derby champs: last 5
| 2024 | Goldrush Guru |
| 2023 | Riff Rocket |
| 2022 | Manzoice |
| 2021 | Hitotsu |
| 2020 | Johnny Get Angry |