Australia has pulled off a historic first win over Team USA in their World Cup exhibition game, triumphing 98-94 in front of a record crowd at the Docklands stadium in Melbourne.

Key points: The Boomers first played the US in 1964 but had never posted a win until Saturday

The Boomers first played the US in 1964 but had never posted a win until Saturday Patty Mills led the way for the Boomers with a game-high 30 points

Patty Mills led the way for the Boomers with a game-high 30 points Team USA had not lost in a major tournament or exhibition for 13 years

The Boomers had not beaten an American national team in 55 years but they achieved the rare feat following a see-sawing tussle in the final term, which captivated the 52,079-strong crowd, the largest ever for a basketball game in Australia.

It was Team USA's first loss in a major international tournament or exhibition since 2006, ending a 78-game winning streak.

Patty Mills starred for the Boomers with 30 points, including 13 in the fourth quarter, while Joe Ingles produced a 15-point haul for the home side.

Andrew Bogut caused the USA all sorts of trouble on the inside to finish with 16 points, nine rebounds and four assists.

"This is huge for us, it's a friendly so we want to keep it in context," Bogut said.

"But we did make history tonight as the first senior men's Australian team to beat an American team.

"This is a special group of guys that really like playing for their national team and are proud to put on that jersey and we've got a group who feel like we can beat anybody in the world."

Mills (left) goes on the attack as he tries to beat Team USA star Kemba Walker. ( AAP: Hamish Blair )

The teams have played 26 times since 1964 but the Boomers had never been triumphant.

After trailing by one point at half-time, the Boomers led 78-76 heading into the final quarter to put the massive crowd on the edge of their seats.

The Boomers still had the lead 91-87 with less than three minutes left on the clock and stifled the depleted Americans' attempts to rally.

Team USA were missing many of their NBA superstars, who opted to skip the World Cup.

US full of praise for Boomers

Team USA's head coach Gregg Popovich, who is in charge of Mills at NBA giant San Antonio Spurs, showed he had a sense of humour when he pointed out the Australian's contribution.

"As I told you after the last game, Patty's a pain in the arse," Popovich joked.

Australia's Jock Landale (left) shoots against the defence of Team USA's Marcus Smart. ( AAP: Hamish Blair )

Popovich congratulated the Boomers and highlighted the unity of their squad.

"The Boomers were really great," Popovich said.

"They did a great job. It's really a testament to how long they've stuck together to get this accomplished."

The victory raises hopes of the Boomers finally bringing home their first medal at either a World Cup or Olympics, with their first match against Canada in China on September 1.

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Team USA had won their opening encounter against the Boomers 102-86 on Thursday night.

An aggregate crowd of 102,297 attended the two fixtures in Melbourne, with 51,218 watching the first game.

Many spectators were upset by the seating arrangements at Docklands on Thursday, with the game played on a raised court to accommodate the large crowd.

Those on ground-level seats, who paid hundreds of dollars, had limited viewing and were seated on white plastic chairs, while the few rows of courtside seats were folding chairs.

Oscar winner Russell Crowe was among those disappointed with his seat, which he said cost him $1,500.

"Jokes (sic) on me," he tweeted.

"If you weren't among 50,000 there and you chose to watch it on TV at home, good decision."

ABC/AAP