Miss Universe 2012 Winner: Miss USA Olivia Culpo; Miss Philippines, Miss Venezuela Hold Second, Third Spots [PHOTOS]

Miss USA, Olivia Culpo, a 20-year-old beauty queen from Rhode Island, won the Miss Universe 2012 crown Wednesday night at the Planet Hollywood Hotel and Casino on the Las Vegas Strip, beating out 88 other competitors.

Culpo received the crown from Leila Lopes of Angola after walking in a purple and blue bikini and a red velvet gown. She answered a question about her regrets by saying she wished she hadn't picked on her siblings, the Associated Press has reported.

Miss Philippines Janine Tugonon held the second spot, followed by Miss Venezuela Irene Sofia Esser Quintero; Miss Australia, Renae Ayris; and Miss Brazil, Gabriela Markus in the fourth and fifth spots respectively.

This was the 61st year of the Annual Miss Universe contest that started in 1952 with Finland's Armi Kuusela winning the crown. This year contestants from 89 countries in six continents took part, spending the last couple of weeks in Sin City.

The top five advanced from the top 10 by defeating Miss France, Marie Payet, Miss Hungary, Agnes Konkoly, Miss Mexico, Karina Gonzalez, Miss Russia, Elizabeth Golovanova, and Miss South Africa, Melinda Barn.

Culpo, who also attends Boston University, was previously crowned the 2012 Miss Rhode Island USA Sept. 18, 2012, which was her first pageant. She said that didn't participate in any beauty pageant until she was 19 years old, one year before winning the Miss USA crown.

The contest was broadcast live on the U.S. television from the Planet Hollywood Hotel and Casino in Las Vegas and seen by an estimated 1 billion viewers on TV and online media in 190 countries, organizers said.

For the next year, Culpo will travel the world representing the Miss Universe Organization and a charity of her choice.

Judges for Miss Universe 2012 contest included Diego Boneta, Kerri Walsh, Scott Disick, Nigel Barker, Brad Goreski, Cluadia Jordan, Pablo Sandoval, Lisa Venderpump and Giggy, Chef Masaharu Morimoto and Ximena Navarette.

Special awards were given to Miss Guatemala, Laura Godoy for Miss Congeniality, Miss Kosovo, Diana Avdiu for Miss Photogenic and Miss China for Best National Costume. The winner of Online Voting is yet to be revealed.

Take a look at the photos of Wednesday night’s Miss Universe 2012 contest: