Another record-breaking Melbourne Cup for the TAB.

Kiwi punters placed a record 1.4 million bets on the Melbourne Cup this year - a good 400,000 up on last year.

The TAB's reporting a turnover of about $10.3 million.

It's being put down to the strong interest in New Zealand's superstar jockey James McDonald, who was atop the pre-race favourite, Hartnell.

The horse drew 25 percent of all bets, amounting to $2.5 million.

It ran third, with European horse Almandin taking the win, just ahead of Irish-trained Heartbreak City.

One New Zealand punter put $12,000 dollars on Almandin. They've been handed $168,000 for their efforts.

But they won't be the only one celebrating - with $2.4 million being paid out to punters who picked the winner.