But there was sadness among the 100,000-strong crowd with Irish five-year-old The CliffsofMoher, ridden by champion jockey Ryan Moore, euthanised after suffering a fractured right shoulder early in the race.
"Coming into today, this horse ticked a lot of boxes".
It was later revealed the horse had suffered a broken right shoulder and couldn't be saved.
The British-bred horse saw off rivals in a field of 24 to take the Cup, the annual blockbuster event at Flemington Racecourse that this year was drenched by heavy rain that soaked spectators and the 3200-meter (two mile) track.
McEvoy's great triumph was also Cathy's first time seeing him win the Melbourne Cup, which he has managed to achieve on three occasions.
"That piece of work cemented that the horse was well on track", Appleby said.
McEvoy said: "What a thrill - to do it for Sheikh Mohammed and Charlie Appleby".
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Cross Counter started at a $9 chance and initially settled in the second half of the field, but came through for victory, overtaking Marmelo, another British horse, in the last seconds of the race. "And if you didn't have Winx, I mean, crikey, just think how you'd be crying!"
Sportsbet said it had experienced technical issues due to "unprecedented demand and we fixed these issues as a priority".
He said he had spoken to Sheikh Mohammed, the ruler of Dubai, who was "over the moon" with the result.
Viewers reacted in horror after the Melbourne Cup hopeful pulled up lame in a mid-race mishap.
History shows that betting markets may not be the best guide; only eight favorites have won the race in the last 30 years and nine of the past 12 winners have been at better than 10-1.
Sheikh Mohammed's personal Melbourne Cup drought had stretched three decades back to 1988 when he was first represented in the Cup by Authaal, trained by the late Colin Hayes, which finished 19th.
"The Chairmen and Directors of the Victoria Racing Club (VRC) extend their sympathies to the Williams family and the connections of The CliffsofMoher, which was euthanised after he went amiss in the Lexus Melbourne Cup", a statement read.