Kiwi horse Verry Elleegant has won the Melbourne Cup in a massive boilover. 

It is a famous day in Australian racing with the 160-year Barrier 18 curse finally coming to an end. 

It is the only barrier in the great weight-for-age race to never produce a winner. 

No longer. 

The victory gives New Zealand trainer Chris Waller his first ever Cup after fellow Kiwi jockey James McDonald piloted the six-year-old mare to a perfect position before she exploded down the final straight to blow the field away. 

"I just can't believe what's just happened," an emotional McDonald said after the race. 

It is an astonishing 10th Group 1 career victory for the Kiwi horse. 

From 400m to run, she made her move and never looked like being challenged from there. 

James Mcdonald riding #4 Verry Elleegant wins the 2021 Melbourne Cup. (Photo / Getty) 

The race unfolded with a series of dramatic shuffles at the front of the field. 

Incentivise was six-deep as they crossed the post for the first time, but pushed up into second behind Persan on the back straight. Floating Artist sat fourth as they made the turn onto the straight. 

But Very Elleegant was positioned perfectly to make her run down the straight past the grandstand, shooting past race favourite Incentivise with more than 200m to run. 

Incentivise finished a very distant second with Verry Elleegant humiliating the rest of the field as she left them in her wake. 

Spanish Mission finished third, with Floating Artist fourth. 

A maximum of 10,000 fully vaccinated spectators were on hand to cheer home the field down the famous Flemington straight this afternoon. 

Melbourne Cup final results: 

1st: 4-VERRY ELLEEGANT (NZ). 
2nd: 2-INCENTIVISE. 
3rd: 3-SPANISH MISSION (USA). 
4th: 22-FLOATING ARTIST 
5th: 6-THE CHOSEN ONE (NZ) 
6th: 16-GRAND PROMENADE (GB) 
7th: 7-DELPHI (IRE) 
8th: 9-SELINO (GB) 
9th: 21-TRALEE ROSE (NZ) 
10th: 19-SHE'S IDEEL 
11th: 1-TWILIGHT PAYMENT (IRE) 
12th: 17-MIAMI BOUND (NZ) 
13th: 23-GREAT HOUSE 
14th: 24-SIR LUCAN (IRE) 
15th: 5-EXPLOSIVE JACK (NZ) 
16th: 14-MASTER OF WINE (GER) 
17th: 15-PONDUS (GB) 
18th: 13-CARIF 
19th: 11-KNIGHTS ORDER (IRE) 
20th: 12-PERSAN 
21st: 18-PORT GUILLAUME (FRA) 
22nd: 10-JOHNNY GET ANGRY (NZ) 
23rd: 8-OCEAN BILLY (NZ)