Pre-race favourite Admire Rakti, who finished last, has collapsed after the Melbourne Cup and died.
Racing Victoria chief steward Terry Bailey confirmed the death.
The Japanese stallion was widely predicted to win the cup and took to the front of the field early, however in the final stages of the 3200 metre gallop fell off the pace to finish last.
Mr Bailey told Australia's Channel 7 that when a horse shows such an unexpectedly poor result vets are automatically rushed over to check its condition.
Vets were unable to save the favourite and he died in his stall.
Meanwhile, Mike Moroney's Araldo is reportedly fighting for its life after shattering a leg.
German horse Protectionist won the race, with Red Cadeaux coming in second and Kiwi horse Who Shot Thebarman third.
Source: ONE News
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