How to read today’s betting options in New Zealand

Updated October 2026

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Anyone scanning a betting app in New Zealand at half-time is not really looking for “the best bet.” They are looking for a price that looks better than the bookmaker’s, on a market they understand well enough to defend if it loses. That is what this page works toward. It is not a tip sheet, and nothing below names a match, a price, or a winner. What it does is lay out who can lawfully take a bet from a New Zealander (the answer is shorter than most readers expect), how a tip is built from form, fixtures and odds, why every price sits on top of a margin the bookmaker keeps, and what the safer-gambling tools built into the licensed app actually do. The figures and rules come from the current register of the Department of Internal Affairs, the Racing Industry Act 2020 as amended, and the App Store listings of the two brands the law names.

26 October 2026 — checked against the Department of Internal Affairs register, the Racing Industry Act 2020 and the Racing Industry Amendment Act 2025, the App Store listings for TAB and Betcha, and the published terms of each non-New Zealand operator listed below.

Safer gambling before any bet goes on

A page about what to back today has to open with the tools that stop today going wrong, because the strongest predictor of harm is not a bad tip, it is a bettor who kept doubling up after a loss. TAB NZ and its online sister brand Betcha carry the full set of harm-minimisation tools that the licensed app can offer in New Zealand: deposit limits, time-outs and self-exclusion, with an exclusion applying across both brands. The age floor is 18 for any betting account, and the app carries a 17+ App Store rating while telling customers in its own description that they must be 18 or over to bet. Anyone under 18 is betting illegally; for the rest, the safer-gambling controls are there to set the boundary before a price ever looks tempting.

The free New Zealand gambling helpline is 0800 654 655, with a text line on 8006, and Safer Gambling Aotearoa is the public-facing service that works alongside the helpline. The Problem Gambling Levy funds both, set at 0.74% from 1 July 2025 to 30 June 2028. Inland Revenue treats recreational gambling winnings as generally not taxable; prize money from TAB horse, dog and trotting races sits outside taxable income. A person who bets as a business is a different case, and anyone whose betting looks like income needs to ask Inland Revenue or an accountant rather than trust the general rule. None of this is advice on whether to bet today. It is what the licensed system in New Zealand puts around the bet.

Offshore brands listed further down the page carry none of it. A self-exclusion at TAB NZ does not follow a bettor to an offshore site. A deposit limit set on Betcha’s app does not bind an Anjouan-licensed bookmaker. The harm-minimisation framework, the helpline, the levy, the regulator — all of it stops at the border of the monopoly the Racing Industry Amendment Act 2025 set up. That is the practical consequence of “safer gambling” in New Zealand: it is real for the licensed product and absent for everything else.

What a “best bet” actually means

A search for the best bet today is a search for two things at once: a market where the bettor’s view of the outcome is more accurate than the bookmaker’s, and a price large enough to be worth staking on. The first is a value question, the second is a price question, and the only difference between a tipster and a marketing email is whether the price question is answered honestly.

Building a forecast from form, fixtures and the line-up

The raw material for any forecast is the same whether the bet is on the All Blacks, the Black Caps, a Super Rugby Pacific fixture or a Saturday race at Ellerslie. Form is what a team or a runner has done recently, in conditions that resemble the conditions of the upcoming event. Statistics are the longer-run version of form: expected goals, completion rates under pressure, head-to-head records, ratings from prior meetings, the splits between home and away performance. Line-ups are the moving part that turns form into a forecast — a side missing its first-choice playmaker is a different bet than the same side at full strength, and a horse drawn wide on a tight track changes the price enough to move it from value to poor.

The bookmaker’s own market is the fourth input, and the one most readers underestimate. A bookmaker’s price is the market’s view of the event, adjusted by the margin the bookmaker keeps. When the price drifts on team news, the drift already incorporates what the rest of the market knew. By the time a tipster sends the tip, the price the bettor sees is the price after the news. Reading the line-up half an hour before kick-off and noticing the bookmaker has not yet moved is the rare case where a personal view can beat the consensus. Catching up with a tipster’s note twenty minutes later is not.

Why no tip is ever certain

Every tip rests on an assumption that turns out to be wrong more often than it turns out right. A key player pulls a hamstring in the warm-up. The pitch is waterlogged and the side built around width loses its main advantage. The favourite gets interfered with in the running and finishes third. The reason tipsters lose money is not that they pick the wrong matches — most tipsters pick matches they have a real edge on. The reason is that even an edge of 55% on a market priced at $1.90 still loses 45% of the time, and the losing runs are longer and uglier than the tipster’s track record suggests.

That is what a value bet is: a market where the bettor’s assessed probability is higher than the price implies, in the long run. A bet at $2.10 the bettor prices at 55% is value, because 55% of $2.10 is $1.16 expected return per $1 staked. A bet at $1.50 the bettor prices at 60% is also value by the same arithmetic. The bookmaker’s margin sits inside both prices, so the bettor’s calculation is against an inflated number, not a clean one. A stake on a value bet still loses more often than it wins. What it does, over enough bets, is return more than the stakes laid out.

A “lock”, a “sure thing” and a banker are marketing words, not analysis. Markets where the favourite is short — $1.10, $1.05, below — carry margins that eat most of the implied edge. A bet at $1.05 the bettor prices at 96% is value in theory and almost impossible in practice: the bettor’s 96% is the same number the bookmaker’s traders are arguing about, and there is no edge to take. The way a market at $1.10 loses is not a dramatic upset; it is the favourite being held to a draw on a wet night, the favourite losing by a single point, the favourite winning without covering the handicap. The short price carries its own risk profile, and it is not the same as the long shot’s.

Staking and bankroll discipline

A bankroll is the amount set aside for betting, kept separate from rent, bills and food. A stake is the share of the bankroll laid on one bet, usually between 1% and 3%. The point of the stake rule is not to maximise returns — a flat 1% stake leaves money on the table in a winning run. The point is to keep the bankroll alive through a losing run, because losing runs are longer and more frequent than the bettor expects.

Two habits separate bettors who last from bettors who burn out. The first is the bet log: a record of every bet, the stake, the price, the reason for the bet and the result. Without the log, a bettor remembers the winners and forgets the losers, and the bankroll quietly shrinks. The second is the stop-loss: a number at which the bettor stops betting for the day, the week or the month, set in advance, kept to. The bookmaker’s product is built to keep the bettor playing past it. The bettor’s own discipline is the only thing that breaks that.

Chasing losses — increasing the stake to recover what the bankroll has already lost — is the most expensive habit in betting. The expected value of a single bet does not change because the previous three lost. A larger stake on the next bet does not turn a -$90 night into a winner; it turns a -$90 night into a -$270 night. The licensed app’s deposit limit and time-out exist for exactly this point, and using them before the chasing starts is a sharper decision than any price a bookmaker quotes.

The bookmaker’s margin, made visible

Every price on a betting app is built from a true probability plus a margin the bookmaker keeps. The margin is what makes the bookmaker a business: a 5% margin on a two-way market means the bookmaker keeps 5 cents of every dollar bet on that market, in the long run. A 10% margin means 10 cents. The bettor’s job is to notice the difference.

The arithmetic is straightforward. On a two-way market priced at $1.90 and $1.90, the implied probabilities add to 105.3%, not 100% — the extra 5.3 points are the margin. On a three-way market at $3.00, $3.40 and $2.10, the implied probabilities add to 33.3% + 29.4% + 47.6%, which is 110.3%, and the margin is 10.3 points. The bookmaker does not need to know which outcome wins. The 10.3% margin is the bookmaker’s, whatever the result.

The same two prices can sit on two markets with very different margins. A market with a margin of 5.0% shows prices of $1.90 and $1.90. A market with a margin of 7.5% shows prices of $1.85 and $1.85. A market with a margin of 2.5% shows prices of $1.95 and $1.95. The headline price is the same shape — favourite and underdog, in the same range — but the bettor’s expected return differs. On a market with a 2.5% margin, a 55% bet returns 7.4% over the long run. On a market with a 7.5% margin, the same 55% bet returns -1.4%. The headline price did not change. The margin did.

Margin is the reason a “best odds guaranteed” promotion is worth less than the marketing makes it sound. The bookmaker is offering to top up the starting price on a horse race to whatever the industry’s top price turns out to be. The top price, in turn, sits on top of the same margin the starting price sat on. A 5% margin is still a 5% margin after the top-up. The promotion moves money from one part of the betting public to another, not from the bookmaker to the bettor.

This page’s worked example uses two-way odds of $1.90 and $1.90 — an illustrative price, not a quoted one. The implied probability of each outcome is 1 / 1.90, which is 52.63%. The two outcomes sum to 105.26%, and the margin is the 5.26 points above 100. As a band: a market of this shape typically carries a margin somewhere between 4% and 6% on a mainstream two-way line, and that band widens on minor leagues, on derivative markets such as handicaps and on the same selection priced in a multi leg. The exact figure depends on the bookmaker, the sport and the market; the band is what the bettor reads off the screen.

The ten brands a New Zealand punter meets

The list below mixes two groups and the page holds them apart on purpose. The first two are the licensed New Zealand brands: TAB and Betcha, both run by TAB New Zealand under section 74AAA of the Racing Industry Act 2020. They are not rivals; they are two windows onto the same betting pool, with different product emphasis and a shared wallet. The other eight are bookmakers a New Zealand punter meets in search results, on affiliate pages and on social media. None of them holds a licence to offer bets in New Zealand. The Department of Internal Affairs told providers serving New Zealand to withdraw with immediate effect after the 28 June 2025 amendment, and the offshore operators below are not on the licensed side of that cut.

This is not a ranking. It is a comparison by the same criteria — what the operator offers, what its own terms say, and where it sits in relation to the New Zealand market — so the bettor can read across them without anyone being sold.

TAB — the licensed pool

TAB is the retail and online brand most New Zealanders over thirty grew up with. It is one of two online brands of TAB New Zealand, the only provider lawfully offering racing and sports betting to people in New Zealand under section 74AAA of the Racing Industry Act 2020, in force since 28 June 2025. There is no licence register for bookmakers because there is only one lawful provider; the monopoly is the licence. TAB NZ’s partner Entain runs the TAB business under a 25-year agreement signed in 2023 that gives Entain a 50/50 share of gross profits, with at least $150m a year going to TAB NZ for the first five years, and Entain pledged a one-off $100m payment to the racing sector.

The product is the full TAB range. Racing covers horse, harness and (until the closure starts on 1 August 2026) greyhound racing, with fixed-odds and tote (pool) bets and the standard bet types the betting rules name: Win, Place, Each Way, Quinella, Exacta, Trifecta, First Four, Double, Treble, Daily Double, Running Double, Quaddie and Big6. Multis and Same Game Multis are part of the app. The sportsbook covers rugby union, rugby league and the other sports in season, pre-match and live, with Trackside live race streaming and in-app betting on racing. The safer-gambling tools sit in the app: deposit limits, time-outs and self-exclusion, with an exclusion that also binds the Betcha account. The age floor is 18, and account opening requires a verified New Zealand address.

The verdict. TAB is the only lawful way to bet in New Zealand on horse racing, harness racing and greyhound racing, and the only lawful way to bet on most sports. The product range is broad, the racing form and live streams are built in, and the safer-gambling framework is real. The price is the price the monopoly sets: there is no second licensed bookmaker to compare it against, and the margin on minor sports can be wide. The punter who wants to bet today, on a New Zealand event, on a licensed app, is at TAB.

Betcha — the online sister, with social betting built in

Betcha is the second of the two online brands of TAB New Zealand, the online-only sister to TAB, sharing the same wallet and the same safer-gambling controls. Where TAB is the established retail face of the monopoly, Betcha is the product built for a younger punter who lives in the app, follows tipsters and shares bets. The two are not rivals; they are two windows onto the same pool, and a self-exclusion set on one applies to the other.

The product is built around three features the App Store listing names. Multi Builder lets punters assemble multi bets, copy trending multis from other users and track live legs, with a new multi-grid that builds Same Game Multis. The daily Toolbox carries odds boosts and insurance tools for bets that do not land. The Bet Social section is a feed of tipsters, shared bets and pools. The Playbook is the tips and match-analysis side of the product, with a forecast section for the day’s events. The sports coverage is broader than the racing focus suggests, including the codes TAB covers and the major football and basketball leagues.

The verdict. Betcha is the licensed product for a punter who wants multi builders, odds boosts, insurance tools and a social feed inside the licensed app. It is not a separate bookmaker, and a comparison with offshore brands on price is a comparison with brands the law does not let serve New Zealand. The punter who wants the social product on the licensed side is at Betcha. The punter who wants the established retail product is at TAB. Both wallets are the same wallet.

LegendPlay — football, tennis and a thin New Zealand line

LegendPlay is a Curaçao-licensed sportsbook with an Anjouan licence named on the site, and a New Zealand punter meets it in search results. It has no authorisation for New Zealand wagering. The sportsbook is built around three sections: Sports, Live Betting and Virtual Sports. The sports list is short and mainstream: football, tennis, basketball and ice hockey. Live betting is offered, and virtual sports is its own section. The product is the standard offshore sportsbook shape, and there is no New Zealand-specific racing product, no New Zealand payment route and no New Zealand harm-minimisation framework.

The verdict. LegendPlay sits on the wrong side of the section 74AAA line for a New Zealand punter. A punter comparing a licensed TAB account with a LegendPlay account is not making a fair comparison: one has the Department of Internal Affairs register and the helpline behind it, the other has neither. The product is functional for a market where it is licensed. In New Zealand, it is not.

Glorion — broad markets, no New Zealand licence

Glorion is a sportsbook with pre-match and live betting, virtual sports, horse racing and esports, and a market grouping that includes popular, niche, indoor and outdoor sports and entertainment events such as award shows and elections. Support runs through live chat and email, and the site accepts customers aged 18 and over. The product is wider than LegendPlay’s — entertainment markets and esports on top of the standard sports — and the support framework is standard offshore. The site names no licence that applies in New Zealand.

The verdict. Glorion’s entertainment and esports coverage is the kind of breadth a TAB or Betcha punter cannot get on the licensed product, and a New Zealand reader who has been on Glorion’s site will have seen it. The section 74AAA line still applies. The product is built for a market where it is licensed, and the New Zealand market is not that market.

22Bet — long-running, Curaçao-licensed, offside in New Zealand

22Bet is one of the longer-running Curaçao-licensed sportsbooks, with licence 8048/JAZ held by TechSolutions Group N.V. The product covers single bets, accumulators, systems and chains, with live betting that updates odds and scores in real time. The bet-type range is wider than most — system and chain bets are not always offered by the smaller books — and the live-betting product is one of the more developed in the offshore set. None of that changes the New Zealand status: 22Bet lacks a licence to accept bets from local residents, and the Department of Internal Affairs’s directive of 28 June 2025 covers it.

The verdict. 22Bet is the offshore book a New Zealand punter most often sees in comparison content, because it has been around long enough to accumulate English-language coverage. The comparison content is comparison for licensed markets. The product itself is functional; the licence, for New Zealand, is not.

Alawin — mainstream sports, no licence named

Alawin’s sportsbook covers football, tennis, table tennis, basketball, ice hockey, American football and baseball, with Live Betting, Virtual Sports and esports on the side. The product is the standard offshore sportsbook shape, and the sports list is mainstream: football, the American codes, the racket sports and the team sports that drive most of the betting volume globally. The site names no licence that applies in New Zealand. The Alawin site is the same as every other small offshore book in this list, and the New Zealand question is the same as well.

The verdict. Alawin does not name a New Zealand licence, does not have a New Zealand harm-minimisation framework and does not have a New Zealand complaints route. The product is mainstream and functional. The status in New Zealand is the same as the rest of the offshore list.

Spinbara — terms restrict one slot, not the licence

Spinbara’s general terms state that the Planet of the Apes video slot is unavailable in New Zealand. The restriction is a single casino title, not the site. A reader who skims the terms and sees “unavailable in New Zealand” can read it as more than it is: the site is not licensed in New Zealand, and the unavailable slot is one consequence of that, not a partial licence. The terms name no licence that applies in New Zealand.

The verdict. Spinbara is a casino site with a sportsbook attached, and the only New Zealand-specific clause in its terms is a single casino title. The site is not licensed in New Zealand. The terms confirm the status without ambiguity.

Millioner — mainstream sports, no New Zealand licence

Millioner’s sportsbook covers pre-match and live events on football, tennis, table tennis, basketball, ice hockey, American football and baseball, with separate Live Betting and Virtual Sports sections. The product is the same shape as Alawin’s, with the same mainstream sports list and the same three verticals. The site names no licence that applies in New Zealand, and the New Zealand status is the same as the rest of the offshore list.

The verdict. Millioner is a mainstream offshore book with a New Zealand punt it cannot serve lawfully. The product is functional, the licence is offshore, the New Zealand status is “not licensed.”

Rooster.bet — Tobique-licensed, six odds formats

Rooster.bet is owned and operated by Novatrix SRL, a Costa Rica company with registration number 3-102-893958, and the site states that it holds e-gaming licence No. 0000002 from the Tobique Gaming Commission. Tobique is one of the smaller e-gaming regimes; the licence gives no right to take bets from people in New Zealand. The sportsbook has Live, Sports Promotions, Results, Schedule, E-sports and Predictions sections, with odds in six formats. The product is built for a market where the Tobique licence has weight, which New Zealand is not.

The verdict. Rooster.bet is a Tobique-licensed bookmaker with a six-format odds display and a broad sportsbook. The Tobique licence is no licence in New Zealand, and the Department of Internal Affairs’s directive of 28 June 2025 applies. The product is functional; the New Zealand status is “not licensed.”

BigClash — Curaçao-licensed, esports included

BigClash offers pre-match and live sports betting across international and local leagues, with virtual sports and esports betting on FPS and MOBA titles on top. The licence is Curaçao 8048/JAZ. The product is mainstream offshore, with the esports product being the differentiator: FPS and MOBA titles are not always covered on smaller books, and the leagues are listed by game. None of this changes the New Zealand status: BigClash has no New Zealand licence.

The verdict. BigClash’s esports product is the strongest part of the offering for a reader who follows the FPS and MOBA scenes, and the rest of the book is the standard offshore shape. The licence is Curaçao, the New Zealand status is “not licensed.”

How the law actually works in New Zealand

The Department of Internal Affairs is the gambling regulator under the Gambling Act 2003 and monitors compliance with the betting prohibition in the Racing Industry Act 2020. 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: no person other than TAB NZ may 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 told providers serving New Zealand to withdraw with immediate effect. There is no licensing route for another bookmaker and no licence register for betting, because there is only one lawful operator.

The law targets the operator, not the player. 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 source publishes a penalty for a player. The Department warns that overseas operators may be in jurisdictions with minimal consumer safeguards, may not return unspent credits and may not pay out large wins. New Zealand does not block bookmaker sites. The point-of-consumption charge on offshore racing and sports bets ceased on 30 June 2026. Greyhound racing is closing in stages from 1 August 2026, and from that date offshore operators may not take bets on greyhound races either.

The Online Casino Gambling Act 2026 licenses online casino gambling only. TAB New Zealand winning the right to apply for a casino licence does not extend the betting monopoly, and a casino limit is not a betting limit. Betting and casino are separate permits, with separate rules, separate harm-minimisation frameworks and separate registers. The 17+ App Store age rating on TAB’s app is an Apple-side rating; the betting age is 18, set by section 89 of the Racing Industry Act 2020, and the land-based casino age is 20. The numbers look close, the rules do not, and the two must not be merged.

The Advertising Standards Authority’s Gambling Advertising Code applies to betting advertisements in New Zealand. Ads must not target children (under 14) or young people (14 to under 18), judged by context, appeal and expected audience, must not encourage harm, and must be truthful with terms available. TAB NZ runs “bonus bets” promotions; no New Zealand rule on bet-bonus size or wagering terms was found, so the rules are TAB NZ’s own and live in its terms. The page describes what an offer costs; it does not print codes, and it does not invite sign-ups with any brand.

Putting the bet together

The order of decisions is what separates a deliberate bettor from someone clicking the price that flashed. The first decision is whether to bet at all. The bankroll is set, the day’s stake is set inside the bankroll, and the safer-gambling controls on the licensed app are configured. If the bankroll is gone, the day is over. The second decision is the market. The bettor’s edge is in markets they know well, and a market at the limit of the bettor’s knowledge is the market where the bookmaker’s margin matters most. The third decision is the price. The bettor has a probability in mind; the bookmaker has a price; the comparison is between the two, and the comparison is honest only when the bettor’s probability is honest. The fourth decision is the stake. A stake of 1% to 3% of the bankroll is the band most long-running bettors sit in. The fifth decision is the record. The bet is logged, the reasoning is logged, the result is logged, and the log is read again next week.

A punter who follows that order on a licensed account, in markets they understand, on days when the bankroll allows, is not the punter the harm-minimisation tools are built for. The tools are for the days when the order breaks, when the bankroll is gone and the price still looks tempting, when the log stops being read. Setting a deposit limit, a time-out and a self-exclusion before those days arrive is the safer-gambling decision that compounds. The licensed app carries all three.

The unlicensed brands further up the page carry none of it. A self-exclusion at TAB NZ does not follow a punter to LegendPlay, to Glorion, to 22Bet, to any of the eight offshore books in the table. A deposit limit set on Betcha does not bind an Anjouan-licensed sportsbook. A bet logged in TAB’s app does not appear in a Glorion account. The framework stops at the border of the monopoly. The punter who crosses that border is on the Department of Internal Affairs’s “minimal consumer safeguards” side of the line, with whatever consumer protection the offshore operator’s own licence — Curaçao, Anjouan, Tobique — provides, and no New Zealand complaints route. That is the practical consequence of the section 74AAA cut: the licensed product is one of two brands, and everything else is everything else.

The pricing lesson sits beside the legal one. Two-way odds of $1.90 and $1.90 carry a 5.26% margin in the band most often seen on a mainstream two-way line. A 5.26% margin means a 55% bet returns 7.4% over the long run, and a 60% bet returns 12.6%. A 5.26% margin on a market the bettor has no edge in means the bettor loses 5.26% of every stake over the long run, in addition to whatever the price drift costs. The price is the price. The margin is the margin. The punter’s edge is the difference, and the difference has to be measured honestly or it does not exist.

Frequently asked questions

What bets to take today?

The honest answer is that no source on the internet can tell you which specific bet wins today, because nobody knows in advance. What a forecast can do is combine form, statistics, line-ups and the bookmaker’s own odds into a view of the event, and the value bet — where the punter’s probability is higher than the price implies — is the bet worth taking, not the bet that wins. A value bet loses more often than it wins. Over a long enough run, it returns more than the stake laid out, which is the only result the punter can control.

What is the betting line on the Super Bowl today?

The Super Bowl is an American event and the betting line on it is published by the sportsbooks that price it. In New Zealand, the only sportsbook licensed to take bets from people in New Zealand is TAB NZ, with TAB and Betcha the two online brands; the line TAB or Betcha publishes is the only line a New Zealand punter can lawfully back. Offshore lines from Curaçao- or Anjouan-licensed books are not lawfully available to a New Zealand punter. The exact line on the day is in the licensed app, refreshed through to kick-off.

What is a value bet and why is no tip ever certain?

A value bet is a market where the punter’s assessed probability of the outcome is higher than the price implies, after the bookmaker’s margin is taken into account. A punter who prices a market at 55% and takes $2.10 is on a value bet, because 55% of $2.10 is more than $1. No tip is ever certain because every forecast is a probability, not a guarantee, and the bookmaker’s margin sits on top of every price the punter sees. A 55% tip wins 55% of the time over a long run, which means it loses 45% of the time over the same run. The 45% is the cost of being in the market at all.

What is the bookmaker’s margin and how can it be seen in the odds?

The margin is the share of every dollar bet on a market that the bookmaker keeps, on average, regardless of which outcome wins. It shows up in the odds: on a two-way market at $1.90 and $1.90, the implied probabilities add to 105.26%, and the 5.26 points above 100% is the margin. On a three-way market at $3.00, $3.40 and $2.10, the implied probabilities add to 110.3%, and the 10.3 points is the margin. The lower the implied sum, the lower the margin, and the more of every stake is returned to the betting public in the long run. Reading the implied sum is the punter’s fastest way to compare two markets at the same headline price.

How is the return on a bet worked out from the stake and the odds?

The return on a winning bet is the stake multiplied by the decimal odds. A $10 stake at $2.50 returns $25, of which $10 is the stake back and $15 is the net profit. A $10 stake at $1.90 returns $19, of which $10 is the stake back and $9 is the net profit. For a multi bet, the odds of each leg multiply into one price, and the stake is multiplied by that combined price. A four-leg multi at legs of $1.80, $2.10, $1.95 and $1.70 has combined odds of $12.52, and a $10 stake returns $125.20 if all four legs win. The expected return across a long run of bets at any given market is the stake multiplied by the payout share, where the payout share is 100% minus the margin.

Prepared by the Nzlivebetting editorial staff.