The jockeys competing on Turnbull Stakes day at Flemington will also be vying for $50,000 to be awarded to the best and fairest rider.

Racing Victoria has introduced a 'Star of the Saddle' concept for five of Melbourne's feature spring race days this year, beginning with Saturday's Turnbull meeting.

"The Star of the Saddle seeks to reward those jockeys who support the Victorian Spring Racing Carnival by recognising the best and fairest rider across premier race days at Flemington, Caulfield and The Valley throughout October and November," RV said.

On Turnbull Stakes Day (October 5) and Caulfield Guineas Day (October 12) the Star of the Saddle receives $50,000.

The prize for Caulfield Cup Day (October 19) and also Victoria Derby Day (November 2) is $100,000.

There is also a $100,000 prize for the two-day Cox Plate carnival at The Valley on October 25-26 which comprises 18 races.

Points will be allocated on a three-two-one basis to the placegetters in all races.

If a jockey is suspended throughout the course of the meeting for a breach of the riding or whip rules they will be ineligible for that day's prize.

If there is a pointscore tie, the cash prize will be shared equally among the winning jockeys.

Saturday's Turnbull meeting is on the same day as the Epsom Handicap meeting at Randwick in Sydney.

The Caulfield Cup day program clashes with The $14 million Everest meeting in Sydney on October 19 while the inaugural $7.5 million Golden Eagle for four-year-old horses in Sydney on November 2 is on the same day as the Victoria Derby meeting.