The Australia-trained gelding Knight's Choice has won the US$5.6 million Melbourne Cup, Australia's premier horse race at odds of 80-1.

Knight's Choice has won Australia's famous Melbourne Cup, in a dramatically close race which went to a photo finish. It was winning Irish jockey Robbie Dolan's first ride in the event, but a second victory for New Zealand trainer Sheila Laxon.

Rank outsider Knight's Choice has won the Melbourne Cup in a photo finish from Warp Speed, with Okita Soushi third in the $8.5 million feature at Flemington.

Previously, the closest Queensland may have come to claiming a Melbourne Cup winner was in 1943 when Dark Felt was born and bred on the Darling Downs before being trained to Cup glory by Victorian Ray Webster. History-maker Knight’s Choice hardly comes from a regal background.

Despite Willie Mullins' wait for a win in "the race that stops a nation" gong on, there was still Irish joy as Kildare rider Dolan guided Knight’s Choice to victory at Flemington for joint-trainers John Symons and Sheila Laxon.

Knight’s Choice has pulled off one of the Melbourne Cup’s most stunning upsets, leaving punters reeling and bookies licking their wounds in the wake of the race that stops the nation.

Knight's Choice has won Australia's famous Melbourne Cup, in a dramatically close race which went down to the final few metres. It was Irish jockey Robbie Dolan's first time in the event, but the second win for New Zealand horse trainer Sheila Laxon.