Pete Jacobs wins Ironman world championship updated 8:24 p.m. KAILUA-KONA, Hawaii (AP) - Australia's Pete Jacobs won the Ironman world championship Saturday, beating Germany's Andreas Raelert by more than 4 minutes. The 31-year-old Jacobs, second last year, finished the 2.4-mile ocean swim in Kailua Bay, 112-mile bike ride through the scorching lava fields along the Kohala Coast and 26.2-mile run through Kailua Village and out onto Queen Kaahumanu Highway in 8 hours, 18 minutes, 37 seconds. "I'm in love with this sport," Jacobs said moments after winning. I'm so lucky to have this opportunity and have a good day out there. It was an unbelievable day and there's much love out there. Jacobs was second off bike, more than 8 minutes behind Belgium's Marino Vanhoenacker, and passed Vanhoenacker with little more than 10 miles left in the marathon. The winner earned $120,000. The 36-year-old Raelert has his third top-three finish in four years. He finished in 8:23:40. Belgium's Frederik Van Lierde was third in 8:24:09. Vanhoenacker faded badly in the run after Jacobs passed him and wasn't a factor at the finish.