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Rugby union competition between Australia and New Zealand

The Bledisloe Cup is an annual rugby union competition between the national teams of Australia's Wallabies and New Zealand's All Blacks that has been contested since the 1930s. The frequency that the competition is held has varied, as has the number of matches played in each tournament, but it currently consists of an annual three match series, reduced to a two match series in World Cup years, with two of the matches counting towards The Rugby Championship. New Zealand have had the most success, winning the trophy in 2023 for the 51st time and 21st in succession (excluding the disputed inaugural competition in 1931), while Australia have won the trophy 12 times.

In 2008 the Bledisloe Cup was contested over an unprecedented four matches, with three games each played in Australia and New Zealand, followed by a fourth (and potentially deciding) game in Hong Kong, in an effort to promote the game in Asia. This was the first time Australia and New Zealand had played in a third country outside the Rugby World Cup. The Hong Kong match drew a crowd of 39,000 to see the All Blacks defeat the Wallabies 19–14 (despite New Zealand having already won the Bledisloe Cup for 2008), generating a reported £5.5 million and proving to be a financial success for the two unions. A fourth match was again set in Hong Kong in 2010, but failed to attract sufficient ticket sales.

The capital Tokyo hosted a fourth Bledisloe Test match on 31 October 2009. Each team expected to clear at least A$3.8 million/NZ$5 million from the Tokyo match. On 27 October 2018, Bledisloe Cup returned to Japan for the second time and was hosted in Yokohama with the purpose of promoting and preparing for 2019 Rugby World Cup. All Blacks beating Wallabies 37–20 in the third test to sweep the series. The attendance figures was around 46,000 which became the record for a rugby test match in Japan. The relatively poor ticket sales included about 10% arrived via giveaways because of clashing with the fixture between Japan and World XV a day before in Osaka and lack of competitiveness of Wallabies contributing to dead rubber match of the series.

Before the first match in Hong Kong, the two countries' rugby federations were considering taking Cup matches to the United States and Japan in 2009 and 2010. However, the proposed match in the United States did not come to fruition.

Behind the push from World Rugby with their League of Nations concept, only one match result would count for League of Nations points but the new season schedule must be able to accommodate a second Test each year in the new format. The gate receipts from Bledisloe Cup match ups are critical to both Rugby Australia and New Zealand Rugby Union and both nations are firm in their belief that one home match is mandatory. The third Bledisloe, which has long been a cash cow for both nations, could cease to exist. Any cash lost from forfeiting that match would be compensated by A$18 million per year in League of Nations broadcast revenue.

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In Australia, the Bledisloe Cup was televised between 1992 and 1995 by Network Ten. Since 1996, paid service Fox Sports has televised it jointly with (free to air) Seven Network between 1996 and 2010, Nine Network (2011–2012), Network Ten (2013–2020) and since 2021 the Nine Network has held full broadcast rights alongside its paid streaming arm Stan Sport.