Despite coming from one of racing's biggest and best-known families, Payne says she struggled to find acceptance in a male-dominated industry.
The first female rider to win the 'race that stops a nation', Payne used her moment in the spotlight to say that female jockeys should be given a go in what she described as a male-dominated sport.
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Michelle Payne becomes first female jockey to win Melbourne Cup
'Get stuffed'
"To think that Darren Weir has given me a go and it's such a chauvinistic sport, I know some of the owners were keen to kick me off, and John Richards and Darren stuck strongly with me, and I put in all the effort I could and galloped [Prince of Penzance] all I could because I thought he had what it takes to win the Melbourne Cup and I can't say how grateful I am to them," Payne told Channel Seven after the race.
"I want to say to everyone else, get stuffed, because women can do anything and we can beat the world."
Payne's first ride was in 2001 on Reigning, who was trained by her father Paddy Payne.
Jockey Michelle Payne with her brother and strapper Steve at the Melbourne Cup barrier draw. Source: AAP
The youngest of 10 children, of whom eight became jockeys, only she and her brother Patrick, who is now a trainer, completed their apprenticeship and progressed on to racing as a senior rider.
This year was her second Melbourne Cup - her first was in 2009 riding the Bart Cummings-trained Allez Wonder, which finished sixteenth out of 23 starters.
It was Allez Wonder who carried her to her first Group 1 victory in the Toorak Handicap that same year.
But her success has not come easily.
Her mother Mary died in a car accident when she was just six-months old, leaving her father to raise 10 children on his own.
Then in March 2004 her career nearly ended when she fell heavily during a race at Sandown Racecourse, Melbourne, and fractured her skull and bruised her brain.
It took her 15 months to recover from her brain injury, and she told media after she returned to the sport that her father and siblings had been keen for her to retire.
Jockey Michelle Payne riding Allez Wonder, celebrates winning the Toorak Stakes, at the Caulfield Guineas Day in Melbourne, October 10, 2009. Source: AAP
But her determination has paid off.
Over her career she scooped well over $20 million in prize money riding horses for several trainers, predominantly Prince of Penzance's trainer Darren Weir.
And now she has shown to the world that women can win the Melbourne Cup.
"This is a very male-dominated sport and people think we're not strong enough," she said as she accepted her Melbourne Cup.
"But you know what, it's not all about strength. Hopefully this will help female jockeys from now on to get a better go."
Women jockeys in the Melbourne Cup
1987: Maree Lyndon becomes first woman to ride in a Melbourne Cup finishing 20th on Argonaut Style.
2007: Two female jockeys ride in a Melbourne Cup for the first time. Clare Lindop partners Dolphin Jo into fifth place while Lisa Cropp finishes ninth on Sculptor.
2009: Michelle Payne rides the Bart Cummings-trained Allez Wonder who finishes 16th.
2015: Payne becomes first female to win the Melbourne Cup on Prince Of Penzance on long odds of 100 - 1.
History of women in the Melbourne Cup
1915: Mrs E A Widdis becomes the first woman to own a Melbourne Cup winner, Patrobas.
1987: Maree Lyndon breaks ground as the first woman to ride in a Melbourne Cup finishing 20th on Argonaut Style.
2001: Sheila Laxon makes history as the first female to train a Melbourne Cup winner with New Zealand mare Ethereal.
2007: Two female jockeys ride in a Melbourne Cup for the first time. Clare Lindop finishes fifth on Dolphin Jo and Lisa Cropp ninth on Sculptor.
2013: Gai Waterhouse becomes the second female to train a Cup winner when Fiorente is victorious.
2015: Michelle Payne makes history as the first female jockey to win a Melbourne Cup on Prince Of Penzance.
