"First 4" is a product offered by Unitab (tabonline.com.au) and NSWTab (racetab.com.au) so you can place bets with either of these TABs on selected races (it is not available on all meetings/races). As the name implies you have to select the first four finishers in order to collect. I have not seen any first four specific systems but as it is basically an extension of Trifecta you should be able to use a trifecta system.

If you are new to betting then personally I would suggest you stay away from first four unless you are good at picking trifectas - and I would stay away from Trifectas until you can make a profit on picking win/place bets. The dividends from First4 may look attractive but unless you are boxing multiple selections (can be very expensive on first 4) then you could easily go for a year without picking a good paying first 4 in order - it is much harder than you think!

If you really want to play "lotto" you can also try your luck at Superfecta betting on NSWTab where you have to pick the first six horses in finishing order - can pay huge dividends but you may as well throw the formguide out the window and pick numbers at random as just about every runner in the field is probably capable of running 5th or 6th.