Key facts
- Flexi % = your outlay / the cost of the bet at $1 per combination x 100. The TAB's example: $15 on a $60 trifecta box is 25%, so a $200 dividend pays $50.
- On the TAB the minimum is 50 cents, in 50 cent multiples, and the flexi percentage must be at least 1%.
- The TAB pays the percentage to two decimal places: its example of $4 on a $24 box is 16.66%.
- A flexi bet only makes a profit if the $1 dividend is bigger than the number of combinations, whatever you spend.
- The 1% floor caps a bet at 100 combinations per dollar: $10 can cover at most 1,000.
What flexi betting is
Flexi betting lets you take an exotic bet with as many combinations as you want for whatever amount you want to spend. The TAB puts it as increasing the number of selections in a bet without increasing its cost. Instead of paying $1 for every combination, you pay what you choose, and you are paid the same share of the dividend.
The TAB offers flexi on its exotic bet types, such as quinellas, exactas, trifectas and first fours, and lists it as an option on quaddies. These are all tote bets paid from a pool.
How flexi betting works
The flexi percentage is your outlay divided by the cost of the bet at $1 per combination, times 100. The TAB's own example: a 5 runner trifecta box costs $60 for a $1 unit. Spend $15 and your bet percentage is $15 / $60 x 100 = 25%. If the trifecta pays $200, you collect 25% of $200, which is $50.
| Step | What to do | TAB example |
|---|---|---|
| 1 | Count the combinations | 5 runner trifecta box = 60 |
| 2 | Cost at $1 each | $60 |
| 3 | Divide your outlay by the cost | $15 / $60 = 0.25 |
| 4 | Your flexi percentage | 25% |
| 5 | Collect = dividend x percentage | $200 x 25% = $50 |
The TAB's flexi rules
| Rule | What the TAB says |
|---|---|
| Minimum investment | 50 cents |
| Increments | Multiples of 50 cents |
| Minimum percentage | 1.00% or more |
| Decimal places | Percentage paid to 2 decimal places; $4 on a $24 box is 16.66% |
| Default on the app | Flexi is on by default for exactas and quaddies; bet on tab.com.au to turn it off |
| Bonus bets | Non-flexi exotic bets are excluded from bonus bet use |
Flexi percentage examples across bet types
The same formula works for every exotic. Only the combination count changes.
| Bet | Combinations | Outlay | Flexi % | If the dividend is | You collect |
|---|---|---|---|---|---|
| Quinella, 4 runners boxed | 6 | $3 | 50% | $24.60 | $12.30 |
| Exacta, 4 runners boxed | 12 | $3 | 25% | $51.20 | $12.80 |
| Trifecta, 1 runner to win, 4 for 2nd and 3rd | 12 | $6 | 50% | $310.00 | $155.00 |
| First four, 1 to win, 5 others for 2nd to 4th | 60 | $9 | 15% | $1,480.00 | $222.00 |
| Quaddie, 3 x 4 x 2 x 5 runners | 120 | $30 | 25% | $2,150.40 | $537.60 |
A quaddie's combination count is the number of runners picked in each leg multiplied together. Three in the first leg, four in the second, two in the third and five in the last is 3 x 4 x 2 x 5 = 120. Our first four calculator and boxed trifecta calculator count combinations for you.
The break-even trap: the dividend must beat your combinations
Here is the number most punters never work out. A flexi bet only shows a profit if the $1 dividend is bigger than the number of combinations in the bet. Your outlay does not change this.
Why: you collect dividend x (outlay / combinations). That is more than your outlay only when the dividend is more than the combinations. A 120 combination trifecta needs a dividend over $120 to make money, whether you spend $6 (5%) or $60 (50%).
| Bet | Combinations | Dividend needed to profit |
|---|---|---|
| Quinella box of 5 | 10 | Over $10 |
| Exacta box of 5 | 20 | Over $20 |
| Trifecta box of 6 | 120 | Over $120 |
| First four box of 6 | 360 | Over $360 |
| Quaddie 4 x 4 x 4 x 4 | 256 | Over $256 |
This is why big boxes on favourites lose money even when they win. If the popular runners fill the places and the trifecta pays $85, a 120 combination box has won and still returned less than it cost.
Pundit tip: before you add a runner to a flexi box, check the new combination count against the kind of dividend that race usually pays. If the box has more combinations than the dividend is likely to be, you are paying to win back less than you spent.
The 1% floor: how far a budget can stretch
Because the TAB needs at least 1%, each dollar can cover at most 100 combinations. $5 covers up to 500, $10 up to 1,000 and $20 up to 2,000. Go past that and the bet is not accepted.
An 8 runner first four box is 8 x 7 x 6 x 5 = 1,680 combinations. At $10 that is about 0.6% (0.59% to two decimal places), under the limit. To reach 1% you need $16.80, and because outlays go up in 50 cent steps, the smallest bet the TAB will take is $17.00.
Flexi, the pool and the commission
Flexi changes your share of a dividend, not the size of the pool or the cut taken from it. Every exotic pool has the TAB's commission taken out first: 17.50% for quinellas, 20% for exactas, 21.50% for trifectas, 23% for first fours and 20.50% for quaddies. The TAB's quaddie help page gives a simple example of sharing a pool: $10,000 in the pool and 23 winning $1 units means $434.78 a unit. A 25% flexi ticket on the winning combination takes a quarter of one unit.
Whatever percentage you take, the average cost of a dollar in a trifecta pool is the same 21.50%. Flexi lets you spread that dollar across more combinations. It does not make it cheaper. For more on how pools work, see tote vs fixed odds, and for the cheapest exotics, the quinella calculator and exacta calculator. Greyhound and harness exotics are tote bets too: see greyhound betting and harness racing betting. Every bet type is explained in our bet types guide.
Frequently asked questions
How does flexi betting work?
You choose your runners and how much to spend. The TAB divides your outlay by what the bet would cost at $1 a combination and turns it into a percentage. If the bet wins, you collect that percentage of the $1 dividend.
How do you work out the flexi percentage?
Divide your outlay by the number of combinations (the cost at $1 each) and multiply by 100. $9 on a first four with 60 combinations is 15%. $30 on a quaddie with 120 combinations is 25%.
What is the minimum flexi percentage on the TAB?
1%. The TAB also requires a minimum investment of 50 cents, in multiples of 50 cents. An 8 runner first four box has 1,680 combinations, so it needs at least $16.80 to reach 1%, which in 50 cent steps means $17.
Is flexi betting worth it?
Flexi does not change the odds of your bet or the tote's commission. It lets you cover more combinations for a set budget, at the price of a smaller share of each dividend. Whether that is worth it depends on how big the winning dividend is compared with your number of combinations.
Can I use a bonus bet on a flexi exotic?
The TAB's bonus bet FAQs list non-flexi exotic bets as excluded, along with parlay formula bets. Check the terms of the specific bonus bet before you use it.
Can I turn flexi off on the TAB?
The TAB says flexi is the default for exactas and quaddies on its app, and that to bet without flexi you need to use the tab.com.au website.
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