Elation over the first German victory in Australia's Melbourne Cup has been dampened by the sudden death of the race favorite.

The Japanese-trained Admire Rakti collapsed and died in his stall, minutes after crossing the post in last place.

The stallion had struggled despite being widely tipped to take the race after an impressive win in the Caulfield Cup in October.

First past the post in prestigious race 7 of the Melbourne Cup was Protectionist, a five year old trained by Andreas Wohler, and ridden by English jockey Ryan Moore.

"He has won very easily and that is a very good horse," Moore said, according to local media.

An ecstatic Wohler said: "It's unbelievable. We'll probably later think about it and it's a moment you won't forget in your life."

The five year old -- one of the most inexperienced in the field -- won by four lengths, ahead of Red Cadeaux, which placed second for a third time out of four starts.

New Zealand's Who Shot Thebarman came third.

Second horse injured

On his way back to the stalls, seventh-placed Araldo was reportedly spooked by a boy with a flag. He reared up and kicked a fence, badly injuring his leg. The stallion was being examined by veterinarians, according to reports.

Just three weeks ago, Admire Rakti -- trained by Tomoyuko Umeda -- took first place in the Caulfield Cup, putting the seven-year-old in prime position to take out the Melbourne Cup.

Just hours before the race, commentators speculated on whether he could take the rare double.

He's the second horse to die after the race in as many years. Last year, Verema was euthanized after snapping her cannon bone and dropping out of the race at the halfway mark.

The Melbourne Cup is the biggest event on the country's racing calendar. There's a public holiday every year in Victoria, the southern state where the race is run.

Elsewhere around the country, work stops and many schools pause to watch the race live on television.

(CNN)