Wallabies shattered after last-gasp loss to Lions

However Wallabies coach Joe Schmidt believed the try shouldn't have been awarded after Wallabies flanker Carlo Tizzano appeared to have been cleaned out with a shoulder to the neck in the build-up.

While the TMO and referee Andrea Piardi reviewed the hit by Welsh flanker Jac Morgan, he didn't deem it a penalty and the try stood.

A shattered Schmidt said contact was made above the shoulders, which made it illegal.

"You just have to read law 9.20 ... we felt it was a decision that doesn't really live up to the big player safety push that they're talking about," Schmidt said.

"We've watched a number of replays from different angles, and so it is what it is, we just have to accept it."

Jubilant Lions coach Andy Farrell had a different view and described it as a "brilliant clear-out".

Coming after the Wallabies loss in Brisbane, the Lions will lift the Tom Richards Cup with a third Test still to play in Sydney.

The result means the Wallabies are the first team since the 1966 Lions tour to lose the series in two games, with that Australian outfit losing both matches in a two-Test tour.

In the Lions' last two visits down under, in 2001 and 2013, the Wallabies have won the second Test in Melbourne.

It appeared this series would also follow that script as the hosts came out firing in front of a crowd of 90,307, the largest ever to watch a Lions match in Australia.

With Will Skelton and Rob Valetini, who sat out the first Test through injury, adding size to the pack, the Wallabies answered their critics and aimed up early in a physical display that had the tourists on the back foot.

Two penalty kicks by Tom Lynagh gave the Wallabies an early six-point lead but the Lions were first across the tryline in the 15th minute through hooker Dan Sheehan. 

While the Wallabies lost Harry Potter to a hamstring injury and had to use reserve halfback Tate McDermott on the wing, they didn't miss a beat.

Prop James Slipper, only the second Wallaby to have played in two series, scored for an 11-5 lead and everything seemed to be going the home side's way.

With Lions winger Tommy Freeman yellow-carded after his team's multiple infringements, the home side extended the lead to 23-5 lead after 30 minutes with halfback Jake Gordon and fullback Tom Wright both scoring.

But the red tide started to turn and the Lions closed the gap to 23-17 by halftime.

The second half was an arm wrestle and a 59th-minute try by prop Tadgh Beirne set up a thrilling finale, with just two points between the teams.

The Wallabies showed desperation in defence and it looked like they would hold on for a famous victory but the Lions had the final say.

Kiwi Schmidt said it was one of the most painful losses of his long coaching career.

"I felt we had the game to really challenge them, and we demonstrated that when we built the lead, but they're a really good side, and the experience they have just allowed them to stay calm, and execute their game," he said of the Lions.

"So it was a heck of a test match, and yeah, we're absolutely gutted."

With celebrations from their change-room drowning out the press conference, Farrell was thrilled to have the series locked down.

"These lads have dreamed of being a British and Irish Lion all their lives and to get to the point where we come to the MCG, 90,000 people, with a dramatic finish like that to win the series, is what dreams are made of," he said.

"It's a special moment for everyone so we are absolutely delighted that we showed the courage of what it takes to be a Lion."