What is an Odds Compiler?
An odds compiler is the person at a bookmaker who prices the markets and works out the odds for the sports and non-sporting events the customers bet on. In an article in the newspaper the Daily Telegraph, titled ‘I Want Your Job’, Helen Jacob states that as an Odds Compiler, “I’ve always got my computer screen up, showing every profit and loss that we stand to make. I’m constantly reacting to what’s going on, and adjusting odds – for example, if someone has had a fight on (TV show) Big Brother, the odds on them winning may increase.”
Odds Compiler Explained
The German bookmakers Tipico states the responsibilities for an Odds Compiler include compiling odds for sporting events, gathering data for prematch sports events, analysing performance, writing reports on the betting markets, and looking into market trends.
To get the job they state that an applicant should have a deep knowledge of the sport in question, in this case, German football and a good knowledge of sport in general, a degree in a quantitative subject such as finance or computing, and an understanding of current betting tools on the market.
Bookmakers, however, are not the only people who compile odds. Sports Trading Life states that successful gamblers compile their own odds. Though it is a lot of work, it enables the gambler to know if the odds the bookmakers are offering are fair. They then bet accordingly.
Sports Traders.com states that compiling odds is not as difficult as it sounds and that a good gambler has to have a sound understanding of numeracy anyway to have any sort of success. The main thing is to have specialist knowledge and understanding of at least one sport. After that, it is just a case of following a formula that they can find at sites such as Sports Trader and others.