MELBOURNE (AFP) - Irish raider Twilight Payment won the coveted A$8 million (S$7.7 million) Melbourne Cup at an eerily quiet Flemington on Tuesday (Nov 2) with the "race that stops a nation" run behind closed doors for the first time.

With Jye McNeil in the saddle, the eight-year-old held off Tiger Moth and Prince of Arran in a thrilling finish to the gruelling 3,200m handicap, considered the ultimate test of stamina and staying power.

"There's so many emotions, it's such a big moment," said an emotional McNeil. "It's very overwhelming."

Local trainer Danny O'Brien still has three runners, including last year's winner Vow and Declare, Russian Camelot and Miami Bound.

Aidan O'Brien-trained Tiger Moth was an 11-2 favourite among bookmakers to win "the race that stops the nation".