Definition of Magic Million in English:

Magic Million

(also Magic Millions)

noun

  • (A trademark in Australia for) an annual horse race instituted in 1986 in Queensland, with a total prize money of A$1 million; (also) a yearling sale preceding the race, horses bought at which are eligible for race-entry; (in later use) any of a series of associated thoroughbred sales and races held annually in Australasia and the Pacific; frequently attributive.

Origin

1980s; earliest use found in Daily Sun (Brisbane).