A candid Chris Waller admitted a decision about where to race Winx in the next year had tempered the excitement of the mare's historic Cox Plate win, after he confirmed Australia's darling of the turf would be spelled.

The will-she-or-won't-she debate about whether the world's best racehorse would forge on to the Emirates Stakes on the final day of the Flemington carnival was ended on Friday afternoon, connections opting for the paddock rather than chasing a 23rd straight win on Saturday week.

It means Winx's first appearance at Flemington, in the Turnbull Stakes last month, may be her only run at the racetrack, as Waller eyes an overseas assault with the mare next year.

"Owning, training, riding Winx is certainly a different experience and something I haven't been through before," Waller said.

"Winning that Cox Plate only a matter of six days ago doesn't have the same level of excitement when there's so many important decisions [including] considerations for the horse and considerations for the fans and racing in general [to be made].

"We have considered everything and we've come up with the decision now it's time for her to have a break. She's still in great shape and it gives us the hope she can continue on for another six to 12 months. We're hoping this amazing story goes a little bit further."

The Queen Anne Stakes, famously won by Frankel in breathtaking fashion, has firmed as Winx's most likely Royal Ascot goal if Waller opts to pursue a European campaign next year.

It could be preceded by two – maybe three – runs in Australia during the autumn in either Sydney or Melbourne. Waller said a decision on an overseas preparation won't be made until mid-March.

The debate about where Winx would race next took hold virtually straight after she staved off Humidor in a scintillating Cox Plate win in track-record time. And Waller ended the speculation on the eve of Derby Day.

"Of course I want to see her race against the best," Waller said. "We'll make a decision based on her form, based on her wellbeing. [But overseas horses] are certainly welcome to come here in the meantime.

"She's such an important life-changing experience for all of us. You think of everything. You name it we've thought about it."

Waller had previously hinted the Diamond Jubilee Stakes, the race won by Black Caviar in her only overseas start, had been a consideration if Winx was head to Europe. But he's instead leaning towards the mile event.

Winx had been nominated for this month's Japan Cup, which was to precede a slew of nominations at some of the world's biggest racing carnivals in places such as Dubai and France. 

But Waller maintained a trip to Japan had always been only a slim chance.