Almandin, ridden by Australian Kerrin McEvoy, won the 156th running of the Melbourne Cup, Australia’s most popular horse race.
It was McEvoy’s second Melbourne Cup success, after first winning with Brew in 2000. The 36-year-old said it was “a dream come true”.
Known as the “race that stops a nation”, the event is the world’s richest two-mile handicap.
Heartbreak City was second, with pre-race favourite Hartnell in third.
A crowd of more than 100,000 was expected to be at the Flemington Racecourse for the race.
The race is Australia’s richest, drawing a deep field of talent from home and abroad to compete for the A$3.6m (£2.25m; $2.75m) prize.
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