The Pegasus Cup is awarded annually to the most successful college boat club competing in the Cambridge May Bumping Races. The points system is as follows.
To get a score for each club, calculate the total number of places gained or lost so far by all the boats of that club, multiply these by 12, and divide by the number of boats. A night rowing over as head crew in the 1st division is counted as a gain of one place. In the event of a tie, the club with more boats wins, else the tie stands.
To be eligible a club must have at least one men's and one women's boat (except in the case of single sex colleges where two boats of the same sex may be permitted).
The 2016 Pegasus Cup was won by Corpus Christi College. This was the first time this small college has won the cup after a couple of near misses in previous years.