Fixed Odds Exotics uses Pointsbet’s Fixed Odds Win prices to calculate the probability of the exact finishing position of every runner; these probabilities are then used to calculate the odds of your exotics by combining every runner’s odds of finishing in every position chosen in your exotic to give you your Estimated Return.
In the example below, 2, 1, 4 is considered the least likely combination to win and is therefore offered at the highest odds.