Melbourne Cup live updates: Payne changes tip after billionaire’s curious $1m bet

It's absolute pandemonium in the mounting yard area right now.

The connections of Sabaj erupt as the favourite hits the front in the final furlong and holds on for a brilliant win.

They'll be partying hard tonight!

WINNER: Sabaj ($2.50)

2nd: Darkbonee

3rd: Magnaspin

She’s the belle of the ball and the woman of the hour, and Jules Neale’s ‘Tap Tap’ champagne moment has arrived.

The highly anticipated, theatrical tradition is hosted by French Champagne house G.H. Mumm.

Crowds gathered outside Mumm’s exclusive marquee in Flemington’s VIP Birdcage enclosure as Jules struck the neck of a three-litre bottle of champagne with a ceremonial sabre.

Receiving the honour to perform the ‘Tap Tap’ is a major status symbol and without a doubt Jules has earned it this year.

In her signature elegant style, the sabre strike went off easily and bubbles shot straight through the air. We’ll toast to that!

Sabaj is the money horse heading into race six here.

The Eliminator is being as brutal as ever.

Melbourne Cup winning jockey Michelle Payne has changed her tip at the last minute.

The 2015 winner, who was the first female jockey to win the great race, is with James McDonald’s ride Trustyourinstinct this afternoon, having first tipped Hopewell Rock.

She was initially wary given some rain was forecast, but is keener now there are clear skies over Flemington.

And the fact the horse’s billionaire owner put $1m on Hopewell Rock makes her think he is trying to distract punters from Trustyourinsintinct.

“I’ve changed my selection last minute just because of the rain forecast,” she told NOVA this morning.

“I think it’s funny [that] the owner, he’s had a bet to win $10 million on another runner… I thought he could have been steering people away from one of his main chances... I think he’s in with a really good shot.”

Watch Beach Pad finish off the best in race five.

WINNER: Beach Pad ($11)

2nd: Highland Bling

3rd: After Summer

We are set for race five.

The Chris Waller stable staffer who applied cream to the legs of Asterix is reportedly devastated after the horse was withdrawn from the Melbourne Cup.

The horse had treatment to its legs, which is illegal on race day.

“It was applied this morning accidentally,” chief steward Rob Montgomery tells Nine.

“It’s just an honest mistake, but unfortunately big consequences.”

Connections had flown over from New Zealand for today.

Joseph O’Brien is still only 33 years old.

Today he can become the first international trainer to win the Cup three times. He did it in 2017 with Rekindling and in 2020 with Twilight Payment.

He has five runners in today’s feature race and Francesca Cumani says her friend is here to do a job.

“He has come with a mission to prove these Irish horses as the best in the world,” she says on Nine.

“The way this guy has gone through his career, succeeding at every level, is unbelievable. He is absolutely killing it.”