THE luckiest punter in the world has turned an 8c bet into more than $77,000 after picking the first four finishers in the Melbourne Cup.

The miraculous bet returned odds of 969,406 to one after the sportsbet.com.au customer put 8c on Green Moon, Fiorente, Jakkalberry and Kelinni to fill the first four positions.

Even more incredibly, the bet was the woman's first with the online bookmaker.

She spent $1.92 on a number of combinations, with her 8c bet on the four placegetters producing the goods.

Sportsbet.com.au spokesperson Shaun Anderson said he was staggered when the seemingly impossible longshot came through.

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"What an amazing bet, made even more extraordinary given it was their first ever bet with us" said sportsbet.com.au’s Shaun Anderson.

The first four paid a New South Wales record $1.4 million with the TAB.

"The First 4 is a record in NSW, eclipsing the previous biggest dividend which was on Stakes Day in 2007,” TAB spokesperson Matt Jenkins said.