The Magic Millions Classic and a lucrative bonus is in the sights of Change Of Honour's owners after the two-year-old held on to win at Caulfield on Saturday.

The only youngster with race experience in the Sportingbet Plate (1000m), Change Of Honour sat outside the leader before taking over shortly after straightening.

Despite tiring, Change Of Honour, equal favourite at $4.20, held on to defeat Register ($8) by three-quarters of a length with well-backed Seriously Happy ($4.20) a head away third.

Change Of Honour sports the colours of BC3 Thoroughbreds and the gelding is raced by a syndicate of women who are now eyeing a bonus on Magic Millions day at the Gold Coast next month.

A $500,000 bonus will be distributed to connections of the first four all female-owned or leased horses across the line in the $2 million Magic Millions Classic (1200m) with the first one earning an extra $325,000.

Trained by Kevin Newby who celebrated his first city win since taking out his licence about a year ago, Change Of Honour had made his debut with a fourth in a Magic Millions event at Ballarat which was run in the clockwise direction.

"The goal was to get this horse to the Magic Millions and we had the get earnings to get there," Newby said.

"We knew we had to win today to get there.

"He'll go to the Gold Coast now and he'll thrive there."

Jockey Michael Rodd said race experience was telling.

"He definitely got tired but they are going to have a lot of fun with him," Rodd said.