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Flemington Five: Closest Lexus Melbourne Cups

2 November 2025 • Written by VRC

Every fan of racing – indeed, most Australians – has their own favourite Melbourne Cup win, but certain finishes are just unforgettable.

The Melbourne Cup has seen some of the closest finishes in horse racing history, delivering heart-stopping moments that live on in racing lore. While there has never been a dead heat in the history of the race, there have been many times mere millimetres have separated the winners. Each of these finishes has added to the race’s  reputation for delivering edge-of-your-seat excitement, so relive the nail-biting moments here as we count down the top five closest finishes. 

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