Jockey Michael Walker admitted he was devastated he couldn't win the Melbourne Cup for his family.

Third across the line, Prince Of Arran was elevated to second behind Vow And Declare after a stewards' protest.

As Walker was leaving home for Tuesday's meeting, he promised his daughter Layla that he would win the Melbourne Cup.

Tuesday was Layla's 11th birthday.

"I'm very family orientated and I feel like I've let her down," Walker said.

"That's what has hit me the hardest.

"Then getting elevated to second probably makes it hurt a little bit more.

"But the horse ran super and Charlie and the team have done a tremendous job."

Walker's Cup was further soured when he was suspended for seven meetings and fined $10,000 for breaching the whip rule, using it 12 times before the 100m mark.

"I had thoughts of winning the Melbourne Cup," Walker told stewards.

"I lost my style, I lost my balance and I lost my mind."

Walker's suspension starts after he rides at the Oaks day meeting at Flemington on Thursday.