Protectionist has won the 2014 Melbourne Cup from Red Cadeaux and Who Shot TheBarman.
Protectionist, paying $8 at the start, romped home after the final turn and crossed the line several lengths ahead of the field.
Red Cadeaux became the first horse to run second three times in the race after also being runner-up in 2011 and 2013.
The favourite, Admire Rakti, finished last – and in a tragic twist, collapsed after the race.
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