Plenty would have been celebrating big paydays after Robbie Dolan rode 80-1 chance Knight's Choice to glory, with one punter scooping over $3 million by nailing the quinella. But for many more they were probably drowning their sorrows after bets that didn't pay off.

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.

When Knight's Choice was born in the hills of northern New South Wales five years ago, 76-year-old breeder Norm Bazeley never dreamed he would become a stayer in the race that stops the nation.

Robbie Dolan fulfilled a lifelong dream when he took out Australian racing's biggest prize on Tuesday in a photo finish from Warp Speed - but he had a nervous wait before the result was confirmed.

Melbourne Cup winning jockey Robbie Dolan isn't just a talented hoop - he can also sing. Dolan, 28, won plenty of admirers when he appeared on one of Australia's favourite TV shows in 2022.