The tournament, held at a Malaghans Rd facility, has been several years in the making.
Four teams competed in the event, coming from Sydney, Auckland and Christchurch to join the local Queenstown riders.
Queenstown Polo developer Jonathan Gabler said while it was not "the most ideal" polo weather, it was an outdoor sport.
"Horses are used to playing in these kinds of conditions, certainly this is like an English summer so there’s no reason to not play."
In polo players on horses score goals by driving a small ball into the opposing team’s goal using a long-handled mallet. Games last about two hours, and are divided into periods called chukkas.
Mr Gabler said there had been "amazing support" from the community, as well as from the players who had travelled to Queenstown to take part.
A good crowd turned out despite the rain, taking shelter under the large marquee while the players braved the elements.
Sydney took out the title, beating Christchurch in the final by four and a half to three. Queenstown claimed third place, beating Auckland four to two and a-half.