A flexi bet is a betting option that allows bettors to bet a percentage (%) of a betting unit rather than have to pay the bet cost for a full $1 unit. Flexi bets are usually used in combination with exotic bet types like quinellas, trifectas, first fours, quaddies and the big 6.
Flexi bets are used for pari-mutuel betting where the total betting pool is split amongst winning bets. All dividends declared for pari-mutuel bets are for a $1 unit. A bettor who wishes to take a 20% flexi bet on a quaddie will only pay 20% the cost of the quaddie bet. If successful, they will only receive 20% of the winning dividend.
A flexi bet can be used with the following bet types: quinella, trifecta, first four, quaddie and big 6. Each of these bet types is covered by Bet-Types.
The example shows the cost of a big 6 for a full $1 unit and also for flexi bet of 20%. The minimum flexi bet is 1% of the total bet cost.
The top Australian bookmakers now offer flexi betting. Each of the bookmakers listed below is recommended by Bet Types.