A quaddie is a bet type whereby the bettor must select the winner of each of the four nominated quaddie races.
The bettor can select any number of possible winners in each leg. The cost of a quaddie bet is calculated by multiplying the number of selections in each leg. The quaddie can also be referred to as a quadrella.
A quaddie is a form of pari-mutuel betting where all bets go into a pool, the winning dividend is determined by dividing up the total pool among the winning bets. The payouts for quaddies can range from $40 right up to $100,000 depending on the results of each race. As an example, the 2018 Melbourne Cup quaddie paid a dividend of $25,194.50. Quaddie dividends are declared for a $1 unit.
The example shows a quadrella bet where the bettor has picked a varying number of selections in each leg. The cost of the bet is $80, which is the number of possible winning combinations for the selections.
The best online betting sites offer quaddie betting to their customers. They simply payout the value of the dividend declared by the tote.
Quaddie bets can be used in combination with flexi betting, which can reduce the cost of the wager significantly; however, the payout also reduces in line with the flexi percentage. The flexi quaddie brings the wager type into the reach of less serious punters who no longer have to fork out so much. Punters can take a percentage of the quaddie from anywhere between 1% – 100%.
If the punter decided to put a 20% flexi quaddie on using the same example above, the cost of the quaddie would be $16 and the payout, if successful, would be 20% of the declared dividend.
Be aware that most betting sites do not allow the use of free bets for quaddie betting. Also, check the maximum payout with your bookmaker, and if this is a concern, bet with the TAB where there is no cap on payouts. Similar bet types include the daily double, that involves two legs, and treble bets, which involve three.