Custom Loss Function - Machine Learning
Budget: $10 – $200 USD
I am looking to develop a custom loss function. Essentially, this is for sports betting. Typically, when I run models building it on my own or running it on azure auto ml, the custom loss functions are tying to maximize accuracy (# of correct predictions). However, that isn't my goal. My goal is to maximize profit. As some samples have better odds, accuracy isn't important to me. I could have s 50% accuracy, but have $2,000 in profit. Likewise, I could have 65% accuracy, and have -$1000 in a loss.
Each sample has odds in decimal format. So the profit model would be:
If correct : Total Profit = odds + profit | $11.50 = $1.5 + $10
if incorrect: Total Profit = Profit - 1 | $8.5 = $10-1.5
So, the goal is to maximize profit, as each previous results profit would be carried to the next sample.
Each sample has odds in decimal format. So the profit model would be:
If correct : Total Profit = odds + profit | $11.50 = $1.5 + $10
if incorrect: Total Profit = Profit - 1 | $8.5 = $10-1.5
So, the goal is to maximize profit, as each previous results profit would be carried to the next sample.