Oddsmaker

usgb/ˈɑdzˌmeɪ.kɚ/
noun

An oddsmaker is a person who sets betting odds for sporting events and manages the risks involved in gambling.

The oddsmaker predicted that the home team would win by a margin of three points.
Visual representation of "oddsmaker" - An oddsmaker is a person who sets betting odds for sporting events and manages the risks involved in gambling.

Often appears as...

  • betting odds
  • sports betting

Usage tips

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General

Definition 1 of 1
Visual representation of "oddsmaker"
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Understanding Odds

The odds set by an oddsmaker inform bettors about the likelihood of an event occurring.

Illustration for Understanding Odds
The oddsmaker set the odds carefully to attract balanced betting on both sides.
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Role in Gambling

Oddsmakers play a crucial role in establishing the framework within which gambling occurs.

Illustration for Role in Gambling
Many oddsmakers work for casinos, ensuring they maintain profitability despite the unpredictability of sports.
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Public Perception

Oddsmakers must consider public sentiment while setting odds to keep betting appealing and engaging.

Illustration for Public Perception
The public's favorite team might not have the best odds according to the oddsmaker.
Visual representation of the word "Oddsmaker"

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