Greyhound betting in New Zealand: where the bets go and what the year 2026 changes
Current as of 31 October 2026, checked against the Racing Industry Act 2020, the Racing Industry Amendment Act 2025 (section 74AAA, in force 28 June 2025) and the 2026 Greyhound Industry Closure Act.

Greyhound racing in New Zealand has a closing date and a betting date, and they sit on the same calendar. From 1 August 2026 the greyhound code stops running races, and on the same day the offshore side of the market stops being able to take bets on what was once a national sport. The remaining book on greyhounds through 2026 is, for a New Zealand punter, a single name run under two brands. This page works through how that came to be, what a bet on a greyhound actually looks like once you sit down at it, and where a reader looking for an account sits inside the law as it stands now.
The angle is choice, and the choice in New Zealand is unusually narrow. Two of the ten names reviewed here may lawfully take your bet. The other eight cannot, and that gap is not a comparison of quality — it is a comparison of legal standing, of which protections follow the money and which do not. Each section below closes with what kind of reader it suits, and what it costs.
| Brand | New Zealand Status | Terms on Greyhounds |
|---|---|---|
| TAB | TAB NZ brand | Lists form and tote markets |
| Betcha | TAB NZ brand | Lists form and tote markets |
| BetAlright | Not licensed | No greyhound presence |
| FunBet | Not licensed | No greyhound presence |
| Winz.io | Not licensed | No greyhound presence |
| RoyalistPlay | Not licensed | No greyhound presence |
| Telbet | Not licensed | No greyhound presence |
| Roobet | Not licensed | No greyhound presence |
| Rooster.bet | Not licensed | No greyhound presence |
| LegendPlay | Not licensed | No greyhound presence |
How a greyhound bet works once the markets close around it
Greyhound betting looks like racing betting, because it is. The mechanics — a fixed-odds price at the time of the bet, a tote dividend when the pool closes, a starting price when the race jumps — come from a long history of betting on thoroughbreds and harness races, and the markets greyhounds carry are mostly the markets racing carries everywhere.

The two prices that travel with every greyhound market
Every greyhound runner carries a fixed-odds price and a starting price, and most New Zealand bettors meet both. Fixed odds are the decimal number you see in the app next to the dog’s name: $2.10 means a $10 stake returns $21, of which $11 is profit. The starting price is the on-course market’s price at the moment the hare breaks from the traps, and it is the dividend paid on the tote when the race has been run on a pari-mutuel basis. The two will not be the same number, and on a thin race the gap can be wide.
On greyhounds specifically the result settles to the first dog past the post in most simple markets. Place markets pay on the first two or three depending on field size, and quinella and exacta markets need the first two in either order or the first two in order. Trifecta and First Four add a third and a fourth runner in declared order, and the cost of the ticket rises with each leg you add. Quaddie and Big6 are jackpots: pick the winner of four or six consecutive races from a nominated meeting, and the pool splits among the tickets that landed.

Multis, same-game multis and how the legs multiply
A multi — what the UK calls an accumulator and the US calls a parlay — is one bet whose price is the product of its legs’ decimal odds. A two-leg multi at $1.50 and $3.00 prices at $4.50; a three-leg multi at $1.50, $3.00 and $2.00 prices at $9.00. The maths is straightforward; the trap is that the bookmaker keeps a margin on every leg, and the margin compounds. A $1.50 leg at a 5 per cent market margin is a less generous leg than the same number printed at a 2 per cent margin, and on a four-leg multi the difference between the two reaches the punter as a smaller payout on a win and a smaller expected return on a loss.
Same-game multis — same-race multis in greyhounds — bundle markets from one event. The most common shape is a quinella plus a place on the same dog, or a win plus an over-or-under on the winning margin. The same compounding margin applies, and on a small field the legs are correlated in ways a multi from different events is not. If your quinella leg needs dog A to beat dog B, and your place leg also needs dog A to place, the second leg has done most of its work before the race begins.
A worked margin on a two-way greyhound market
A two-way market with both sides at decimal odds of 1.90 prices 1.90 on each outcome. The payout share, summed across both outcomes at full cover, is 1 ÷ (1/1.90 + 1/1.90), which is 1 ÷ (0.5263 + 0.5263) = 1 ÷ 1.0526 = 0.9500, or 95.00 per cent of every dollar matched. The margin on that market is thus 5.00 per cent — the bookmaker keeps 5 cents of every dollar wagered, and pays out 95 cents across the winning and losing sides. That is the headline figure for a balanced book on a two-way greyhound market at $1.90 each side.
The 5 per cent band is illustrative. Real greyhound win markets carry between roughly 8 and 18 per cent margin depending on the meeting, the field size and how the book has been built — a six-dog race with one short-priced favourite carries less margin than an eight-dog race with two leading chances, because the favourite side carries thinner price and thinner margin and the longshots carry the rest. The two-way example is a clean number for a worked example, and the band above is the band greyhound markets actually sit in. A punter who wants a real margin on a real meeting checks the operator’s published margin or compares two prices on the same runner across two books.
What a bet pays back when it wins
The arithmetic of a winning bet is the simplest part of the page. Return = stake × odds. Net profit = stake × (odds − 1). A $10 stake at $2.10 returns $21 and yields $11 of profit. A $5 stake at $5.50 returns $27.50 and yields $22.50 of profit. The numbers are tidy because the formula is tidy. The interesting work for the punter is what sits between stake and odds: which runner, which market, which leg, and what the margin on the market does to the long-term return.
This block is for the punter who wants to read the betting slip and understand what is printed on it. The next block is for the punter who wants to know which meetings carry those markets, and which ones stop carrying them.
Meetings, codes and what the 1 August 2026 closure removes
Greyhound racing in New Zealand was, before the closure announcement, a small racing code with seven affiliated clubs across the North and South islands and a regular schedule of meetings. The decision to close the code came from a combination of welfare evidence and political pressure, and the legislative path is short enough to follow on a single page.
The seven clubs and the meetings they ran
Greyhound Racing New Zealand organised seven affiliated clubs before the ban: Auckland, Waikato, Whanganui, Palmerston North, Canterbury, Otago and Southland. The clubs ran meetings on a weekly cadence, with regional flags on the bigger nights and trials on the lighter ones. Form was published through Greyhound Racing New Zealand’s records and through the racing sections of the New Zealand media, and the TAB NZ tote and fixed-odds boards took bets on the Auckland and Waikato meetings as a matter of course.
The seven clubs were not all the same size. Auckland and Waikato carried the metropolitan calendar, Canterbury and Otago covered the South Island base, and Whanganui, Palmerston North and Southland sat behind them in field size and betting turnover. A punter following the code built a form book around the metropolitan meetings and treated the smaller clubs as betting opportunities when the fields lined up. None of that is true from 1 August 2026, when the phase-out completes and the stadia close.
Winston Peters, the Amendment Act and the date that matters
The political path to the closure is short. Winston Peters announced on 10 December 2024 the ban and phase-out of greyhound racing by 2026. The Racing Industry (Closure of Greyhound Racing Industry) Amendment Act 2026 passed on 2 April 2026, with the phase-out set for 1 August 2026. From that date greyhound racing stops in New Zealand, and with it the legal basis for a domestic betting market.
The offshore side of the market is bound to the same date. New Zealand law (section 74AAA) makes TAB NZ the only lawful provider of racing and sports betting. From 1 August 2026 there is no longer a New Zealand greyhound race for a New Zealand punter to bet on, and from the same date offshore operators may not take bets on such races with a New Zealand customer either — not because the law changed on that specific point, but because the events the law licensed them to offer have stopped happening.
What that means for a bet placed in 2026
In 2026 the New Zealand greyhound calendar runs through a shortened season. The Auckland and Waikato meetings carry on into the late winter, the trial schedules wind down, and the last meeting before the closure is the last meeting that takes bets at all. For a punter in New Zealand the practical advice is short: a bet on a greyhound race placed in 2026 is a bet on a race that is one of the last of its kind. The same bet on a greyhound race placed after 1 August 2026 has no event to settle on, and any operator offering one is offering a market that has been closed at source.
This block is for the punter who already knows they want to bet on greyhounds this year and wants to know how much calendar is left. The next block is for the punter deciding whether to bet through TAB NZ at all.
The Top-10 reviewed bookmakers for greyhounds in New Zealand
The list below names the operators a New Zealand punter actually meets, and it splits them in two. The first two are TAB NZ’s online brands — the only lawful options for a New Zealand customer, run by Entain New Zealand under a 25-year agreement. The next eight are offshore bookmakers that New Zealand customers encounter through online advertising and affiliate sites; none of them is licensed in New Zealand, and the page rates them on the same criteria but the rating does not change that legal status. This is not a recommendation and not a ranking of which brand to use — TAB NZ and Betcha are the lawful options, and the other eight are described for the reader who wants to know what they are looking at when they meet one.
The angle here is choice, and the choice in New Zealand narrows from the moment a reader realises only two of these ten names take their bet lawfully. Each entry below describes the operator, names its licence situation, notes what its own terms say on greyhounds and on the betting mechanics that matter, and closes with what kind of punter it suits — and what it costs that punter.
TAB — the monopoly’s primary brand
TAB is one of two online brands of TAB NZ, the only provider lawfully offering such betting. The site’s address is tab.co.nz. The TAB NZ app “TAB — Racing & Sports Betting” is published on the New Zealand App Store under the seller name New Zealand Racing Board and was first released on 8 September 2014.
TAB carries horse and harness racing, rugby union and rugby league and other sports, pre-match and live, and the app carries a 17+ age rating while stating that customers must be 18 or over to bet. The app lists Trackside live race streaming with in-app betting, racing form, Blackbook and Jockey Challenge tools, and a simplified wallet for deposits and withdrawals.
TAB is the only lawful place a New Zealand punter can place a greyhound bet in 2026, and it is the only place that publishes form on the closing meetings. The reading of the offer is that greyhounds are a category being wound up rather than expanded, and TAB’s own promotion of the code has the shape of a send-off rather than a season. The punter who wants a greyhound bet through New Zealand law goes through TAB.
Betcha — the second brand of the same operator
Betcha is the second of the two online brands of TAB NZ, the only provider lawfully offering such betting. The address is betcha.co.nz. Betcha is published on the New Zealand App Store by Entain New Zealand Limited and was first released on 6 August 2024.
Betcha covers horse, greyhound and harness racing plus rugby, NRL, MMA/UFC, NBA, NFL, tennis, cricket, football, motorsports and esports. The two brands are not rivals — TAB NZ runs both, and an exclusion on one applies across the other.
Betcha’s read is that it is the same operator under a younger brand, with the same form, the same wallet, and the same protection framework. The punter who wants a mobile-first experience and a smaller catalogue meets Betcha as the alternative shell of the monopoly. The greyhound offer is the same greyhound offer, because the racing data is the same racing data.
BetAlright — not licensed in New Zealand
BetAlright’s sportsbook covers football, tennis, table tennis, basketball, ice hockey, American football and baseball, with Live Betting and Virtual Sports sections. The brand names no licence that applies here, and under section 74AAA only TAB NZ may offer racing and sports betting. The site is Betalright.com.
BetAlright’s greyhound presence is not established — the listed sports are mainstream ball and combat sports, and the racing side of the book is not described in the operator’s own public materials. The breach, and the breach is the only point that matters, is that BetAlright is not lawful for a New Zealand customer. The punter who sees the brand advertised in an affiliate page and lands on the site is meeting an operator that cannot lawfully take their bet and that sits outside the New Zealand complaints and harm-minimisation framework. The honest framing is that the brand exists, and that no New Zealand licence follows it.
FunBet — not licensed in New Zealand
FunBet’s sportsbook offers odds on football, ice hockey, American football, basketball, volleyball, tennis, rugby and baseball, with live betting and a bookmaker described as open 24/7. The site is Funbet.com.
FunBet’s read is the same read as BetAlright’s — a broad international sportsbook without a New Zealand licence and without a New Zealand complaints route. The DIA’s published warning about overseas operators applies: minimal consumer safeguards, possible non-payment of unspent credits, possible non-payment of large wins. The punter who lands on the site from a search-engine result meets an operator that is, from a New Zealand legal standpoint, not the lawful place to place a bet.
Winz.io — not licensed in New Zealand
Winz.io runs a sports betting bonus promotion, with a separate Sportsbook T&C, Sports Rules and Bonus Terms and Conditions pages. The brand names Anjouan and Tobique licences, held by Novatrix SRL, neither of which gives any right to take bets from people in New Zealand. The site is Winz.io.
Winz.io’s read is the read of a brand that ships a bonus headline and pins a similar compliance footnote. The Anjouan and Tobique licences are real licences, in jurisdictions that issue real licences, and they give no standing under New Zealand law. The punter who follows a sportsbook bonus link to Winz.io is following a link to an operator that cannot lawfully serve them in New Zealand, and any bet placed through the site sits outside the New Zealand harm-minimisation framework. The operator’s own terms are what governs the bet, and the New Zealand Department of Internal Affairs does not have a complaints route into the operator.
RoyalistPlay — not licensed in New Zealand
RoyalistPlay’s sportsbook offers live betting, sports promotions, results and a schedule, with football, basketball, tennis, handball, ice hockey, volleyball and table tennis among the top sports, plus separate e-sports and Predictions sections. The brand names a Tobique Gaming Commission e-gaming licence (No. 0000002), held by Novatrix SRL, which gives no right to take bets from people in New Zealand. The site is Royalistplay.com.
RoyalistPlay’s read is the read of an operator that publishes a sportsbook and a promotions page and licences themselves in a small e-gaming jurisdiction. The Tobique licence is real, the Tobique regulator exists, and the licence gives no standing in New Zealand. The punter who lands on the site meets an operator that cannot lawfully serve them, and the site lists only mainstream ball sports and e-sports.
Telbet — not licensed in New Zealand
Telbet describes itself as a crypto casino and sportsbook, with a welcome offer of 200% up to 1 BTC plus 50 free spins and a 5 USDT free bet on its Russian-language site. The brand names no licence that applies here, and only TAB NZ may offer racing and sports betting under section 74AAA. The site is Telbet.com.
Telbet’s read is the read of a crypto-native sportsbook. The bonus headline is large and the licence footprint is not in New Zealand. A punter in New Zealand who follows the bonus link meets an operator outside the New Zealand harm-minimisation framework, and the welcome offer sits inside terms the operator writes and a regulator outside New Zealand enforces. The greyhound presence is not described in the operator’s public materials.
Roobet — not licensed in New Zealand
Roobet’s sportsbook covers soccer, basketball, tennis, Counter-Strike, FIFA, baseball, ice hockey, MMA and table tennis, and its terms require players to be 18 or older. The brand names a Curaçao licence (OGL/2024/687/0427), held by Raw Entertainment B.V., which gives no right to take bets from people in New Zealand. The site is Roobet.com.
Roobet’s read is the read of a Curaçao-licensed crypto sportsbook with a global audience. The licence is real, the regulator exists, and the licence gives no standing under New Zealand law. The listed sports are mainstream ball and combat sports plus e-sports titles — the greyhound presence is not established on the operator’s public materials, and the New Zealand harm-minimisation framework does not reach the operator.
Rooster.bet — not licensed in New Zealand
Rooster.bet’s sportsbook has Live, Sports Promotions, Results, Schedule, E-sports and Predictions sections and shows odds in six formats. The brand names a Tobique Gaming Commission e-gaming licence (No. Only TAB NZ may offer racing and sports betting under section 74AAA. The site is Rooster.bet.com.
Rooster.bet’s read is the read of an operator with a Tobique e-gaming licence, a six-format odds display and a Predictions section. The greyhound presence is not described in the operator’s public materials. A New Zealand punter who meets the brand through an affiliate link meets an operator that cannot lawfully serve them in New Zealand, and the New Zealand Department of Internal Affairs has no published complaints route into the operator.
LegendPlay — not licensed in New Zealand
LegendPlay’s sportsbook has Sports, Live Betting and Virtual Sports sections, with football, tennis, basketball and ice hockey listed. The brand names an Anjouan Gaming Authority licence, which gives no right to take bets from people in New Zealand. The site is Legendplay.com.
LegendPlay’s read is the read of an Anjouan-licensed sportsbook with a Virtual Sports section. The greyhound presence is not described in the operator’s public materials, and a New Zealand punter who meets the brand meets an operator outside the New Zealand harm-minimisation framework. The honest framing is that the brand exists and the lawful New Zealand path to a greyhound bet is TAB or Betcha.
What “lawful” means in New Zealand and why the choice is narrow
The word “lawful” does a lot of work in this page. The Racing Industry Act 2020 establishes TAB NZ as the sole betting provider for racing and sports in New Zealand. The Racing Industry Amendment Act 2025 inserted section 74AAA, which makes it an offence for any person other than TAB NZ to offer racing betting, sports betting or other racing or sports betting to a person in New Zealand, regardless of where that person is resident or incorporated. The change took effect on 28 June 2025, and the Department of Internal Affairs told providers serving New Zealand to withdraw with immediate effect.
The section targets the operator, not the punter. Section 19(4) of the Gambling Act 2003, inserted in 2025, says an individual may not be convicted for placing a bet with an offshore betting operator in breach of section 74AAA. No published penalty for a player was found. The DIA’s published warning about overseas operators applies regardless of the player’s position: minimal consumer safeguards, possible non-payment of unspent credits, possible non-payment of large wins.
There is no licensing route for another bookmaker and no licence register for betting, because there is only one lawful operator. The word “lawful” describes TAB NZ and Betcha, and the word “not licensed in New Zealand” describes every other name in the ranking. The audit is not a quality comparison — it is a legal status comparison.
The Entain partnership and how the monopoly runs
TAB NZ’s partner Entain runs the TAB business under a 25-year agreement signed in 2023. The agreement gives Entain a 50/50 share of gross profits, with at least NZ$150 million a year going to TAB NZ for the first five years, and Entain pledged a one-off NZ$100 million payment to the racing sector. The partnership is why Betcha — published on the New Zealand App Store by Entain New Zealand Limited — exists alongside TAB. The two brands are one operator group, run by the same back office, settled by the same wallet, and governed by the same New Zealand rules.
The closure and the offshore side
Greyhound racing closes on 1 August 2026, and from that date offshore operators may not take bets on greyhound races with a New Zealand customer. The point is worth saying plainly because it is sometimes elided: the offshore side of the market is bound to the same date as the domestic side, because the law ties offshore operators to the events the law licences TAB NZ to offer. There is no greyhound event for a New Zealand punter to bet on through TAB NZ from 1 August 2026, and there is no greyhound event for an offshore operator to take a New Zealand customer’s bet on from the same date.
What this changes for the punter in 2026
In 2026 the calendar splits in two. Before 1 August 2026 a punter in New Zealand can bet on greyhound races through TAB NZ and Betcha, and through no other operator lawfully. From 1 August 2026 a punter in New Zealand cannot bet on greyhound races at all through any operator, because there is no event to settle on. The honest framing of the year is that 2026 is the last year a New Zealand greyhound bet is possible, and that the bet available in the early part of the year is not the bet available in the late part of the year. The block is for the punter who needs to know what the law does to their options before they open an account.
Safeguards, harm minimisation and where a punter in trouble turns
TAB NZ’s app lists deposit limits, time-outs and self-exclusion as the safer-gambling tools a customer can set on their own account, and an exclusion set on TAB or Betcha applies across both brands. The free Gambling Helpline is 0800 654 655 and the text line is 8006, and Safer Gambling Aotearoa is the public-facing name for the support services funded by the sector. TAB NZ must keep the risks of problem and underage gambling minimised, and pays a Problem Gambling Levy of 0.74 per cent, in force from 1 July 2025 to 30 June 2028.
The age for TAB NZ betting is 18. Betting under 18 is an offence under section 89 of the Racing Industry Act 2020. Land-based casinos are 20 — the two ages are different and never merge. TAB NZ accounts need a verified New Zealand address and ID. There is no single national online-betting exclusion register; the register the casino law will require is for online casinos only.
The offshore operators in the ranking do not sit inside this framework. A New Zealand customer with a problem at an offshore bookmaker has no exclusion that follows them across brands, no New Zealand helpline that the operator funds, and no New Zealand complaints route that the operator answers to. The harm-minimisation story is the single sharpest difference between a TAB NZ account and an offshore account, and it is the difference the punter who cares about it is paying for when they choose the lawful operator.
Predictions, strategy and the line between analysis and advice
The strategy literature on greyhound betting splits into three streams, and they do not mix. The first stream is form study: the history of a greyhound, the box it draws, the track it runs on, the trainer’s record at the meeting. The second stream is betting systems: staking plans, price thresholds, lay-or-back rules on betting exchanges, recovery systems after a loss. The third stream is tipsters and predictions: a person or a service publishes a selection and a price, and the punter follows it.
None of the three streams wins in the long run by itself. Form study is the foundation, and it is the only stream that does not require a belief in something the operator does not know. The closing line of a greyhound market carries most of the form a sharp bettor builds themselves, and the market is hard to beat. Betting systems, by themselves, do not change the expected return on a bet — a staking plan changes the variance, not the value. Tipsters and predictions are services, and the only honest reading of a tipster is that the service is selling its track record, and the punter is paying for the chance to follow it.
The point that matters for a New Zealand punter in 2026 is that the greyhound calendar is short and the form book is brief. The meetings that matter are the meetings that close, and the form book at the end of the season is the form book of the last of its kind. A punter following the code through to the closure follows a small catalogue with a known end date, and the betting decisions are decisions about a closing book rather than a developing one.
What a strategy cannot do
A staking plan cannot turn a negative-expectancy market into a positive-expectancy one. The expected return on a market is the payout share, and the payout share is fixed by the margin the bookmaker builds into every price. A staking plan that doubles the stake after a loss recovers the stake on the first win that follows; it does not recover the expected loss on every bet. A staking plan that reduces the stake after a loss reduces the variance and the expected return together; it does not improve the latter.
A tipster service cannot give the punter a positive-expectancy edge the service does not itself have. A tipster with a genuine edge keeps the edge and does not publish it; a tipster without a genuine edge publishes a record of wins and a record of losses, and the punter pays for both. The honest framing of the tipster market is that it is a service industry, not an information industry, and the customer pays for the service and not the information.
A prediction cannot tell the reader who will win. The race has not been run when the prediction is published, and the prediction is a guess dressed in form. The honest framing of the prediction market is that a prediction is a bet on the form the predictor has read, and the predictor is paid either way. A punter who bets on a prediction bets on a person who bets on the form, and the chain does not improve the bet.
This block is for the punter who has heard a system wins and wants to know whether the system exists. The next block covers the workings of the bets themselves.
FAQ
How does a bet on a greyhound race actually work?
A bet on a greyhound race is a bet on a runner in a market, settled on the official result. The simplest market is Win — the first dog past the post pays the dividend. Place pays on the first two or three runners depending on field size. Quinella pays on the first two in either order; Exacta pays on the first two in declared order; Trifecta and First Four extend the chain to three and four runners. Multis bundle runners or markets across the meeting, and the price multiplies leg by leg.
How does a punter bet on greyhound racing with the closure coming?
In 2026 a New Zealand punter bets on greyhound races through TAB NZ or Betcha, the two online brands of the only lawful operator. From 1 August 2026 the 2026 Greyhound Industry Closure Act closes the racing code, and there is no event for a New Zealand greyhound bet to settle on through any operator. The calendar in the early part of the year is the calendar of a closing code; the calendar in the late part of the year has no greyhound meetings on it.
How does a punter use greyhound racing tips without losing money on bad advice?
A tipster service sells a track record, and the track record is what the punter pays for. The honest reading is that a tipster with a genuine edge keeps the edge, and a tipster without one publishes a record of wins and losses and charges for both. The punter who follows tips treats the tip as one input among several — form, box, track, trainer — and the stop on the cost of following the service is the price the punter pays for a tip that did not pay back.
What happens to betting on greyhound racing as the industry closes?
The 2026 Greyhound Industry Closure Act closes greyhound racing in New Zealand in stages from 1 August 2026. The Racing Industry Amendment Act 2025 (section 74AAA) makes TAB NZ the only lawful provider, and offshore operators may not take bets on greyhound races from the same date. The closure removes the events the betting market was built on, and the betting market closes with them.
Which bookmaker may lawfully take sports and racing bets in New Zealand?
TAB NZ, run under the brands TAB and Betcha, is the only provider lawfully offering racing and sports betting to people in New Zealand. The Racing Industry Amendment Act 2025 inserted section 74AAA of the Racing Industry Act 2020 to give TAB NZ the monopoly, in force from 28 June 2025. The Department of Internal Affairs told unlicensed providers to withdraw with immediate effect. No other bookmaker holds a New Zealand betting licence, because no licence to apply for exists.
How is the return on a bet worked out from the stake and the odds?
Return = stake × odds. Net profit = stake × (odds − 1). For a $10 stake at decimal odds of $2.10 the bettor receives $21 back and $11 of profit; for a $5 stake at $5.50 the bettor receives $27.50 back and $22.50 of profit. For a multi the legs’ decimal odds multiply into one price — a three-leg multi at $1.50, $3.00 and $2.00 prices at $9.00 — and the formula applies to the multiplied price.
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