Ten years on from becoming the first female jockey to win the Lexus Melbourne Cup, Michelle Payne has broken down in tears as history repeated itself.

Star jockey Jamie Melham, riding Half Yours, claimed the 2025 Cup, joining Payne in the history books.

The only Australian horse in the race, Melham came through the field, hit the front in the home straight and bound away clearly to claim the historic race.

Payne was ecstatic in the immediate aftermath of the race.

"I've got tears in my eyes," 2015 winner Michelle Payne said on Nine after the race.

"She has revolutionised racing and she is so beautiful to watch."

After having a moment to take it all in, and to pose for a photo with Melham, Payne spoke of her pride.

"I need to find out where the party is, to be honest," Payne said.

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