The Belmont Stakes will be worth $1.5 million next year, the first purse increase for the final leg of horse racing's Triple Crown since 1998.
The Preakness Stakes announced earlier this month its purse would increase to $1.5 million. The Kentucky Derby is worth $2 million.
The purse for the Belmont, to be run on June 7, will be shared among the first eight finishers. Previously, it was split between the top five finishers on a percentage basis.
The winner will earn $800,000. The eighth-place finisher will receive $30,000.
The Belmont purse was $1 million.