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Green Moon wins the Melbourne Cup

Lloyd Williams-owned Green Moon, ridden by Brett Prebble, wins the Melbourne Cup by a length and a half.

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The Melbourne Cup first four has paid the biggest dividend ever, $1.4 million in NSW.

Betting agency Tabcorp said the first four, Green Moon, Fiorente, Jakkalberry and Kelinni, paid $1,467,099 and the trifecta paid $51,117.

The first four broke the 2007 Stakes Day record of $1.05 million.

They're away ... the start of the Melbourne Cup. Click for more photos

Green Moon races to victory in Melbourne Cup

They're away ... the start of the Melbourne Cup. Photo: Eddie Jim

The Victorian dividend on the first four was also reached lofty heights but narrowly falling short of the million dollar mark ($969,406).

Such large pay-out figures came about after not one of the seven pre-race favourites managed to crack a spot in the first four.

Race winner Green Moon started the race at $20.80, Fiorente $43.60, Jakkalberry $56.20 and Kelinni $18.40.

The resulting first four dividend was more than 66 times last year's Melbourne Cup first four payout in NSW, which was $22,717, and $21,593 in Victoria.

"It's massive," Tabcorp spokesman Matt Jenkins said.

NSW punters put $4.1 million into the first four pool, Mr Jenkins said.

He said smaller bets under flexi betting continued to grow in popularity.

"Flexi-betting was introduced in 2001. Punters love that because before that you had to spend a certain amount, but now you can bet any amount."