Punter's incredible $500,000 Melbourne Cup payday

One lucky punter has bagged half a million dollars after a gutsy bet on Cross Counter to win the Melbourne Cup.

Yucatan remained the favourite despite going out from $5.50 to $7 at the jump, but Cross Counter stormed home to make one racing fan $450,000 richer.

TAB revealed that on Monday morning, a racing fan – seemingly very content with their selection – laid down $50,000 on Cross Counter to win at $10 for a potential payout of $500,000.

TRAGEDY: The Cliffsofmoher euthanised after Melbourne Cup injury

That was despite the English-trained four-year-old – a three-year-old by northern hemisphere time – suffering a major setback with a cut to the leg just over three weeks ago.

But after riding him in a gallop last week, jockey Kerrin McEvoy said the horse seemed really well on the back of a good form line – two wins and a second in July and August – and time spent recovering from the wound.

Cross Counter went on to end two decades of Melbourne Cup frustration for the powerful global stable Godolphin by winning Australia’s greatest horse race.

On a rain-affected track and ridden by Kerrin McEvoy for trainer Charlie Appleby, Cross Counter defeated Marmelo and A Prince Of Arran in an all-northern hemisphere finish.

One of the most influential racing operations in the world, the Sheikh Mohammed-backed Godolphin stable has been trying to win the Melbourne Cup since 1998.

Starting a $9 chance, Cross Counter settled in the second half of the field but producing a stirring finish to overhaul Marmelo ($12) who was initially being hailed the winner for Hugh Bowman.

McEvoy now has three Melbourne Cups after winning the race on Brew as an apprentice in 2000 and Almandin in 2016.

“I was back a bit further than what I wanted,” McEvoy said.

“I had to go my own way and we were full of running. I thought mate, is this happening again? And yeah look, I’m just lucky I can ride light on these lovely stayers prepared unbelievably well by Godolphin and Charlie Appleby.”

The race was marred by the Aidan O’Brien-trained The Cliffsofmoher breaking down with a reported fractured shoulder as the field passed the winning post the first time.

The horse was euthanised after the race.

Race-winning jockey Kerrin McEvoy was a stable rider for Godolphin before parting ways to ride freelance in 2014.

Two of his three Cup wins have come since that move.

Appleby said it was every trainer’s dream to win the Melbourne Cup.

“This is all down to Sheikh Mohammad. He’s the one that’s given us the encouragement to take the chances in what we do,” he said.

“We have campaigned over here the last three years now and have been competitive but we have always learnt each trip what horse we felt was going to be needed on the big day.”

with AAP