Betting on this year's Melbourne Cup set a fresh record, says the TAB.
New Zealanders bet $8.7 million on this year's race, 10 per cent up on last year's take.
Across the Tasman, more than $100m was placed in Victoria alone.
TAB racing manager Michael Dore says the boom in betting was partly because of the popularity of favourite So You Think.
The race was won by the American-bred and French-trained horse Americain. Maluckyday was second, So You Think third.
Americain passed So You Think on the home straight to win the $6 million race.
Jockey Gerald Mosse hit the front 100 metres from home to beat Maluckyday by more than a length.
So You Think gave Australian champion trainer Bart Cummings hope of a 13th triumph by taking the lead 250 metres from the line.
More than 100,000 people packed the course for the 150th running of the Melbourne Cup.