His horse Authorized was 5-4 favourite, and easily outclassed runner-up Eagle Mountain, leaving bookies with an estimated £50m pay-out.

The 36-year-old Italian won by five lengths. Aqaleem was third, with Lucarno fourth.

Roared on by the huge crowd packing the famous Surrey Downs, Authorized emerged from the rear to give Dettori a first Derby triumph in 15 attempts.

The Queen was among racing fans who gathered at the Epsom racecourse hoping to witness something special.

Simon Clare, spokesman for bookmakers Coral, said: "This is a fantastic day for the sport but a shocker for the bookies.

"This will be our biggest pay-out in Derby history."

Jockeys wore yellow ribbons to support the family of missing Madeleine McCann.

The event is one of the biggest in the racing calendar, with a global audience of millions across 140 countries.

More than 100,000 racing enthusiasts - including the Queen and the Duke of Edinburgh - were in the crowd.