runners, only Win betting is allowed. Each-Way: A combination of Win and Place. A $5 bet Each-way is a $5.00 bet to Win and a $5.00 bet to Place, for a total bet cost of $10. Exacta: The bettor must correctly pick the two runners which finish first and second. Quinella: The bettor must pick the two runners which finish first and second, but need not specify which will finish first. Trifecta: The bettor must correctly pick the three runners which finish first, second, and third. First4: The bettor must correctly pick the four runners which finish first, second, third and fourth. Duet: The bettor must pick two horses who will place first, second or third but can finish in any order. Multiple races Running Double: The bettor must pick the winners of two consecutive races at same track. Daily Double: The bettor must pick the winners of two nominated races at the same track. Treble: The bettor must pick the winners of three nominated races at the same track. This bet type is only available in the states of Queensland and South Australia. Quadrella or Quaddie: The bettor must pick the winners of four nominated races at the same track. Big 6: The bettor must pick the winners of six nominated races, which can be at the same track or split over two or more tracks. In Australia, certain exotic bet types can be laid as "flexi" bets. Usually the price of an exotic bet is determined by a set multiple of the outcome, for example $60 for a five horse boxed trifecta at one unit ($1)—or $30 at half unit (50c). If the bet is successful, the bettor will get either the full winning amount shown on the board, or half the winning amount. Under a flexi system the bettor can nominate their desired total wager, and their percentage of payout is determined by this wager's relationship to the full unit price. Using a five horse box trifecta, the bettor may wish to lay only $20 on the outcome. Their percentage of winnings is now calculated as $20/$60 = 33.3%. If the bet is successful, the payout will be 33.3% of the winning amount for a full unit bet. In recent times the "Roving Banker" variant for Trifecta and First4 betting is now offered. For a Roving Banker First4 the player selects one, two or three runners they