Gold Trip won the A$8 million Melbourne Cup at Flemington Racecourse, thundering home in the final straight to win Australia's "race that stops the nation" by a length and a half from Emissary.
The six-year-old stallion trained by Ciaron Maher and David Eustace, rated an 18/1 chance by bookmakers, charged in front at the 300m mark and won a thrilling sprint to the final post in the gruelling two-mile handicap.
High Emocean, also trained by Maher and Eustace, placed third on a rain-softened track.
"I feel like crying. It's unbelievable. What a day," said Gold Trip's jockey Mark Zahra, who claimed his first Cup triumph.
"He's a horse that when you go, you don't give him a chance to think about it. I was hoping no one would come near me. It's just elation when I crossed the line."
British stayer and strong pre-race favourite Deauville Legend challenged Gold Trip in the final straight but the four-year-old gelding prepared by James Ferguson faded to fourth.
Without a Fight, the only other international entrant, finished 13th.
The field of 24 was reduced to 22 after Point Nepean was scratched on Monday and Lunar Flare failed a veterinarian inspection on the morning of the race.
Gold Trip and High Emocean were among five entrants trained by Maher and Eustace, the local stable's contingent comprising nearly a quarter of the field.
However, one of the five, Interpretation, failed to finish.
Interpretation was passed fit by a vet inspection in the morning after it was discovered to be lame by stewards on Monday.
Knights Order (ninth) went for broke from the 1,000m mark but was reeled in at the final turn as Smokin' Romans (seventh) and Deauville Legend challenged.
Having jumped at barrier 13, Gold Trip stormed down the outside to kick clear before holding off the Michael Moroney-trained Emissary in a dash to the finish.
After COVID-19 restrictions saw last year's attendance capped below 10,000, and the 2020 race run at a closed racetrack, a buzzing crowd turned out at Flemington despite rain showers and gloomy weather.
The Cup went ahead after police were called to investigate alleged vandalism at Flemington in the early hours of Tuesday, with video on social media showing a hand-held hose discharging an oily, black substance onto the track.
The Nine Network said an unnamed person contacted the broadcaster and claimed responsibility for pouring the sludge on the track as a "problem gambler" making a protest against the Victorian Racing Club.
The Victorian Racing Club runs the Melbourne Cup and other race meetings at Flemington.
Racecourse staff cleaned up the sludge around the 1,500m mark of the track and the Cup day races proceeded without incident.
-Reuters