Treble explained

A treble needs three selections all to win, with the three prices multiplied into one payout. At typical margins each leg contributes ~5% of expected loss, so the structure hands over roughly 15% before kick-off — the price of the bigger number on the slip.

The variance profile is the real product: trebles at moderate odds land often enough to feel achievable while paying enough to feel like winning. Feelings are the product; the margin is the cost.