Definition

Noun: A person whose profession is to calculate and establish the betting odds for events, particularly sporting contests or horse races. This involves analyzing probabilities, statistics, and other factors to determine the likelihood of various outcomes and set the initial lines for wagering.

Examples of Usage

• The odds-maker at the casino adjusted the line after the star quarterback was injured.
• Before the big fight, every odds-maker in the city was analyzing the fighters' past performances.
• Her job as an odds-maker requires a deep understanding of statistics and a keen sense for public betting trends.

Advanced Usage

• "To work as an odds-maker": To have the profession of setting betting odds.
  • He works as an odds-maker for a major sportsbook in Las Vegas.
• The term is often used in discussions about the gambling industry, sports analytics, and the financial mechanisms behind betting markets.

Variants and Related Words

• Oddsmaking (n): The act or profession of setting betting odds.
  • Oddsmaking is both an art and a science.
• Line-maker (n): A synonym for odds-maker, emphasizing the setting of the betting "line" or spread.
• Bookmaker (n): A person or organization that accepts and pays off bets. An odds-maker is often employed by a bookmaker to set the initial odds.

Synonyms

• Line-setter
• Gambling analyst
• Sports analyst (in a specific betting context)

Related Phrases

• To set the odds: The primary action performed by an odds-maker.
  • It is the odds-maker's job to set the odds that balance risk for the sportsbook.
• Odds-on favorite: A term resulting from an odds-maker's calculations, meaning the competitor most likely to win.
  • The champion was the odds-on favorite according to all the major odds-makers.

Noun

1. someone who sets the betting odds based on calculations of the outcome of a contest (especially a horse race)