The US economy experiencing anticipated slump that will have great effect to the local economy. I don't know how to explain this but I'm pretty sure Pinoy will eventually suffer this year and unemployment statistic rate will get high by the next few months.

The booming call center business, which caters to the US market will faces cost-cutting measures that could include office cease of operations and layoffs. It's because most of BPO companies are suffering from the high exchange rate of peso and dollar. Now that the exchange rate is 40 pesos vs.1 dollar, the management of some BPO companies can't afford to pay $375 per call center agent, they will land their calls to much cheaper location such China, Africa and India. If that's happened, there will be more and more unemployed here.

On the other side, POEA stated it won't really affect the OFW remittances, “US economic slump would have no effect on the deployment and remittances of Overseas Filipinos, who they said are in demand because they are more skilled than their counterparts in various countries”. We all know that the US is the largest source of remittances with more than 40 percent of some eight million Filipinos based abroad, or a 10th of the Philippine population, are in the US. Overseas workers like nurses and caregivers could be reduced, and those professionals working in the United States may not obtain security of tenure.

The Philippines should shift its focus and dependency to other nations like Japan, China and the European Union members.

 

kanati inc.

Off-track betting

 

(or OTB) refers to authorized gambling on horse racing outside a race track.

 

Totalisator'

 

A totalisator' or totalizator is the name for the computerized system which runs pari-mutuel betting, calculating payoff odds, displaying them, and producing tickets based on incoming bets.

Dutching

In gambling, Dutching is sharing the risk of losing across a number or runners by backing more than one selection in a race or event. The process calculates the correct stake to place on each selection so that the return is the same if any of them wins. This is not to be confused with what constitutes a Dutch book which is when a bookmaker goes overbroke (the opposite to overround).

Race track

A race track (or 'racetrack' or 'racing track') is a purpose-built facility for racing. This racing can be of animals (eg. horse racing or greyhound racing), automobiles, motorcycles or athletes. A race track may also feature grandstands or concourses. The term racecourse is also used for horse-racing facilities. Race tracks built for bicycles are known as velodromes.

Gambling odds

In gambling, the odds on display do not represent the true chances that the event will occur, but are the amounts that the bookmaker will pay out on winning bets. In formulating his odds to display the bookmaker will have included a profit margin which effectively means that the payout to a successful punter is less than that represented by the true chance of the event occurring. This profit is known as the 'over-round' on the 'book' (the 'book' relates to the old-fashioned ledger that wagers were recorded in and thus gives us the term 'bookmaker') and relates to the sum of the 'odds' in the following way:

In a 3-horse race, for example, the true chances of each of the horses winning based on their relative abilities may be 50%, 40% and 10%. These are the relative probabilities of the horses winning and are simply the bookmaker's 'odds' multiplied by 100 for convenience. The total of these three percentages is 100, thus representing a fair 'book'. The true odds of winning for each of the three horses is Evens, 6-4 and 9-1 respectively. In order to generate a profit on the wagers accepted by the bookmaker he may decide to increase the values to 60%, 50% and 20% for the three horses, representing odds of 4-6, Evens and 4-1. These values now total 130, meaning that the book has an overround of 30 (130 − 100). This value of 30 represents the amount of profit for the bookmaker if he accepts bets in the correct proportions on each of the horses. The art of bookmaking is that he will take in, for example, £130 in wagers and only pay £100 back (including stakes) no matter which horse wins.

Profiting in gambling involves predicting the relationship of the true probabilities to the payout odds. If you can consistently make bets where the odds of paying out are better (pay out more) than the true odds of the event, then over time (in theory) you will come out ahead.

The odds or amounts the bookmaker will pay are determined by the amounts bet on each of the respective possible events. They reflect the balance of wagers on either side of the event, and include the deduction of a bookmaker’s brokerage fee (“vig” or vigorish).

 

 

Parimutuel betting

 

One of the most widespread forms of gambling involves betting on horse or greyhound racing. Wagering may take place through parimutuel pools; or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.

 

 

SOUCE:

 

Wikipedia:

 

http://en.wikipedia.org/wiki/Betting#Parimutuel_betting

http://en.wikipedia.org/wiki/Betting

http://en.wikipedia.org/wiki/Odds

http://en.wikipedia.org/wiki/Off-track_betting