Rank outsider Knight's Choice has won the Melbourne Cup in a photo finish from Warp Speed, with Okita Soushi third in the $8.5 million feature at Flemington.

The Australia-trained gelding Knight’s Choice has won the US$5.6 million Melbourne Cup, Australia’s premier horse race at odds of 80-1.

When Knight's Choice was born in northern New South Wales five years ago, 76-year-old breeder Norm Bazeley never dreamed he would become a stayer in the race that stops the nation.