Calculate betting target odds to guarantee profitability for the house and fair share for the customers.
work out returns on bets
gauge betting target odds to calculate profit
calculate odds in betting
calculate target odds in betting
Skill reusability level
Relationships with occupations
Calculate betting target odds is an essential skill of the following occupations:
Odds compiler: Odds compilers compile the odds in gambling. They are employed by a bookmaker, betting exchange, lotteries and digital/on-line as well as casinos who sets the odds for events (such as sporting outcomes) for customers to place bets on. Apart from pricing markets, they also engage in any activity regarding the trading aspects of gambling, such as monitoring customer accounts and the profitability of their operations. An odds compiler may be required to monitor the financial position the bookmaker is in and adjust their position (and odds) accordingly. They may also be consulted as to whether to accept a bet or not.
Calculate betting target odds is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.