Punter wins $1 million as $90 million splurged on Melbourne Cup

Betting turnover on the Melbourne Cup was down 5 per cent on last year but wagering on the meeting increased by 4 per cent as punters splurged on Tuesday's races.

One Victorian punter won $1 million in a TAB promotion after picking Rekindling to win the Melbourne Cup, as nearly $90 million was wagered on the Melbourne Cup alone through the Victorian, NSW and ACT TABs.

The punter, described as "Dominic from Mill Park", was chosen at random to select a horse in the Cup that would give him the chance to win $1 million and he chose Rekindling, which stormed home to win the race.

He gained the opportunity after he had a $5 each-way bet on Land of Plenty through his account in race three at Flemington.

The horse ran second but when Rekindling won the Cup, "Dominic"

was a million dollars richer.

In a wide-open betting race, the English-trained Marmelo started favourite at 7-1 but faded to finish ninth, with last year's winner Almandin being well supported late to almost move to equal terms with Marmelo in betting markets.

Ridden by Frankie Dettori, Almandin sat three wide for much of the run and finished 12th.

The biggest payout from the TAB on Rekindling from a bet taken on Tuesday was $48,000, which one punter earned when he had $3000 on Rekindling to win at 16-1.

Another lucky punter also backed Rekindling in late September at 51-1, the $500 bet yielding $25,500.

Rekindling opened at $14 before drifting to $17 and then he started at $15 and paid $17.10 on the Victorian TAB.

The TAB also took a bet of $10,000 at 11-1 on the runner-up Johannes Vermeer just two hours before the jump but the horse was pipped at the post.

Rekindling was installed as favourite for next year's Melbourne Cup.

This story Punter wins $1 million as $90 million splurged on Melbourne Cup first appeared on The Sydney Morning Herald.