Green Moon has won the Melbourne Cup at Flemington.
Fiorente was second while Jakkalberry was third.
The race was run under grey skies as the nation paused to watch the 152nd running of the Cup.
3:38pm: If you've been successful on the punt, here's what you've won:
Green Moon: $22.50 win; $7.40 place
Fiorente: $11.80 place
Jakkalberry: $16.00 place
First Four: $969,407
(All prices from the Victorian TAB)
3:32pm: The overall race time was 3 minutes, 20.45 seconds, pointing towards a moderate pace in the middle stages of the race before they sprinted home in just over 34 seconds.
That left the backmarkers with little chance.
Pre-race fancies including past winners Dunaden (14th) and Americain (11th), as well as Red Cadeaux (8th) settled back in the field and never looked winning chances.
The best of the fancied runners was Mount Athos, who stormed to the line in fifth after the race was all over.
GREEN MOON turns around a poor run in the Cox Plate to win a fourth Cup for owner Lloyd Williams and the first for trainer Robert Hickmott.
Brett Prebble, who flew from Hong Kong to take the ride, had Green Moon positioned beautifully at the turn and sprinted clear to defeat Fiorente and Jakkalberry.
The race was expected to be dominated by the international runners, and while two of the lesser-fancied Europeans filled the placings, it was Green Moon, a horse that came from Ireland over a year ago, proved too good to win by a length.
There was a gap of 1-1/4 lengths back to third.
For rolling coverage, including reactions and footage of the race, access the ABC's live blog here.
|GREEN MOON WINS THE MELBOURNE CUP
3:03pm: They're off!
2:54pm: Good money for both Dunaden and Mount Athos around $7 and $8 and it looks like last year's Melbourne Cup winner will start a slight favourite.
Americain and Red Cadeaux are both around the $9 mark.
Another international runner, the Irish stayer Galileo's Choice has continued to shorten into around $15, while top local hope Maluckyday is $16.
2:52pm: The jockeys have been legged-up and will soon be heading out onto the track.
The Cup is less than 10 minutes away.
2:49pm: In non-Cup news, stewards have ordered the scratching of Beesech in race 10.
2:42pm: The runners for the Cup are making their way into the mounting yard ... less than 20 minutes now till the big race.
2:34pm: Advance Australia Fair!
2:30pm: Cup Day disappointment for punters, with the RBA leaving rates on hold.
2:28pm: It's time to meet the 24 jockeys who'll ride in this year's Cup.
2:27pm: The skies around Flemington are looking pretty threatening.
Those not undercover on course have everything crossed the rain will hold off until after the big race.
2.24pm: The pre-race ceremony begins as the Cup is brought into the racing enclosure.
Dunaden and Mount Athos are vying for favouritism... Americain is drifting while Red Cadeaux remains solid.
2:02pm: The man everyone's talking about, Damien Oliver, rides Walk With Attitude to victory in the last race before the Cup.
He rode the filly to victory for owner Gerry Ryan, who also has a share in Oliver's Cup ride Americain.
"I'm sure he'll go into the Cup with great confidence and hopefully I can make it back-to-back wins," Oliver said.
Oliver says the track is racing well and none of the Cup runners will have have any excuses today.
"The track is spot on. It's a Good 3 and racing well."
The Cup has threatened to be overshadowed by reports that Oliver has admitted to breaching racing rules by betting $AU10,000 a rival horse in a race in which he was riding two years ago.
Walk With Attitude