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.

The following job titles also refer to odds compiler:

risk trader
odds trader
odds manager
football odds compiler
horse racing odds compiler
betting expert
sports odds compiler
odds expert
sports trader

A high school diploma or equivalent is generally the minimum required to work as an odds compiler.

ISCO skill level is defined as a function of the complexity and range of tasks and duties to be performed in an occupation. It is measured on a scale from 1 to 4, with 1 the lowest level and 4 the highest, by considering:

• the nature of the work performed in an occupation in relation to the characteristic tasks and duties
• the level of formal education required for competent performance of the tasks and duties involved and
• the amount of informal on-the-job training and/or previous experience in a related occupation required for competent performance of these tasks and duties.

Odds compiler is a Skill level 2 occupation.

These occupations, although different, require a lot of knowledge and skills similar to odds compiler.

tote operator
lottery operator
lottery cashier
bingo caller
bookmaker

These occupations require some skills and knowledge of odds compiler. They also require other skills and knowledge, but at a higher ISCO skill level, meaning these occupations are accessible from a position of odds compiler with a significant experience and/or extensive training.

gaming inspector
auctioneer
aeronautical information service officer
air pollution analyst
aviation data communications manager

This knowledge should be acquired through learning to fulfill the role of odds compiler.

• Mathematics: Mathematics is the study of topics such as quantity, structure, space, and change. It involves the identification of patterns and formulating new conjectures based on them. Mathematicians strive to prove the truth or falsity of these conjectures. There are many fields of mathematics, some of which are widely used for practical applications.
• Legal standards in gambling: The legal requirements, rules and limitations in gambling and betting activities.
• Games rules: Set of principles and rules that govern a game
• Assertiveness: The quality of being self-assured and confident without being aggressive

These skills are necessary for the role of odds compiler.

• Persuade clients with alternatives: Describe, detail, and compare possible alternatives that clients could take about products and services to persuade them to take a decision that benefits both the company and the client.
• Solve problems in gambling through digital means: Use ICT resources, tools and competence in order to solve gambling, betting and lottery problems such as game operation problems.
• Follow ethical code of conduct of gambling: Follow the rules and ethical code used in gambling, betting and lottery. Keep the entertainment of players in mind.
• Calculate betting target odds: Calculate betting target odds to guarantee profitability for the house and fair share for the customers.

This knowledge is sometimes, but not always, required for the role of odds compiler. However, mastering this knowledge allows you to have more opportunities for career development.

• Sporting events: Possess an understanding of different sporting events and conditions that can affect a result.

These skills and competences are sometimes, but not always, required for the role of odds compiler. However, mastering these skills and competences allows you to have more opportunities for career development.

• Speak different languages: Master foreign languages to be able to communicate in one or more foreign languages.
• Apply gaming psychology: Employ human psychology principles for gaming development strategies in order to create appealing games.
• Apply knowledge of human behaviour: Practice principles related to group behaviour, trends in society, and influence of societal dynamics.
• Tolerate stress: Maintain a temperate mental state and effective performance under pressure or adverse circumstances.

4212 – Bookmakers, croupiers and related gaming workers

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References

1. Odds compiler – ESCO