Twilight Payment wins the Melbourne Cup

Jockey Jye McNeil settled Twilight Payment into the lead early on and was never bettered over the 3200 metres.

It was Irish trainer Joseph O'Brien's second Cup win, on top of his 2017 salute with Rekindling - his father Aidan O'Brien's still chasing his first victory in the race that stops a nation.

Tiger Moth was second, with Prince Of Arran again running a place in the Cup.

McNeil was riding in his first Melbourne Cup and became a father earlier in the year.

"There's too many emotions. It's a very good moment," an emotional McNeil said.

"[Partner Jess Payne] and my boy Oakley will be watching from home today and unfortunately they couldn't be here, but I'm sure them, along with a lot of other people will be very proud.

"I've got goosebumps ... I'm absolutely stoked I pulled it off."

It was an eerily unusual Melbourne Cup, with no crowds allowed at Flemington - where normally 100,000 racegoers cram into the grandstands.

But McNeil couldn't care less.

"I'm not worried about the grandstand at all," he said.

"To be able to get the opportunity from the Williams family to partner Twilight Payment today, not only them, but also Joseph O'Brien, who has done a fantastic job preparing him. It's very overwhelming."

But once again tragedy has struck the Cup with one of the favourites, Anthony Van Dyck, breaking down heading into the home straight and needing to be put down.

He's the seventh horse to break down in the Melbourne Cup since 2013.

Melbourne Cup placings: 1. Twilight Payment, 2. Tiger Moth, 3. Prince Of Arran, 4. The Chosen One, 5. Persan, 6. Sir Dragonet, 7. Verry Elleegant, 8. Russian Camelot, 9. Finche, 10. Ashrun, 11. Oceanex, 12. Warning, 13. Surprise Baby, 14. Miami Bound, 15. Master Of Reality, 16. Steel Prince, 17. Etah James, 18. Vow And Declare, 19. Mustajeer, 20. Stratum Albion, 21. Dashing Willoughby, 22. Avilius. Failed to finish: Anthony Van Dyck.