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Becoming an odds Compiler

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  • 20-10-2007 3:24pm
    #1
    osgur
    Closed Accounts Posts: 37 ✭


    How does one go about this ?
    Must be a great job ?


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    #2
    Mellor
    Registered Users Posts: 39,300 ✭✭✭✭Mellor


    Why would it be a great job?


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    #3
    ArmaniJeanss
    Registered Users Posts: 13,399 ✭✭✭✭ArmaniJeanss


    osgur wrote: »
    How does one go about this ?
    There are semi regular ads in the newspapers, particularly the trade papers (Racing Post, Weekender, Irish Field etc). The money isn't great though, I started a job application process with SportingIndex about 6 years ago and the starting salary was IIRC £16000 STG, so I didnt follow it up.
    Nowadays with the presence of the exchanges you can try it parttime yourself and see how you get on.
    osgur wrote: »
    Must be a great job ?

    Horribly tough job I'd have thought. As a test pick a racemeeting on a Saturday. Without looking at any other bookies prices, go through the card pricing up every horse in every race (use about 2.5% overround per horse).
    See how close you get to the actual opening shows, see how many major mistakes you make. (Bear in mind that you can have 99% of prices correct but the savvy punters will only pile into the ones you get wrong).
    Or if you prefer another sport then try the same thing for say every football match in England and Scotland on a Saturday.


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    #4
    Danny2580
    Registered Users Posts: 432 ✭✭Danny2580


    Generally you'd start off specialising in a particular sport or even an area of that sport. Personally, I'm trying to get a foot in the door as a U.K. Racing odds compiler at the moment, starting salary is not overly important as I have other (related) incomes, but getting the initial foot in the door is tougher than I thought.

    You have to know your chosen area like the back of your hand, and right enough it's your mistakes that attract attention rather than the good calls you make. It takes time and effort to become really proficient. On the plus side, if you can compile your own odds, you can spot value far better than the average punter and can exploit it for your own benefit via the exchanges or a generous bookmaker! :)


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    #5
    Mellor
    Registered Users Posts: 39,300 ✭✭✭✭Mellor


    Danny2580 wrote: »
    You have to know your chosen area like the back of your hand
    In general, I find that specialist markets are generally under priced. ie the bookie knows less about niche markets than a punter who may be involved in the area, so they just offer a scabby book. 2006 irish open springs to mind


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    #6
    osgur
    Closed Accounts Posts: 37 ✭osgur


    Mellor wrote: »
    Why would it be a great job?

    because you get to bet and watch sport all day


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    #7
    Mellor
    Registered Users Posts: 39,300 ✭✭✭✭Mellor


    You do know that as an odds complier you will not be able to bet on anything, even if it is nothing to do with your area.


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    #8
    osgur
    Closed Accounts Posts: 37 ✭osgur


    Mellor wrote: »
    You do know that as an odds complier you will not be able to bet on anything, even if it is nothing to do with your area.

    how do you know this


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    #9
    myflipflops
    Closed Accounts Posts: 2,817 ✭✭✭myflipflops


    Mellor wrote: »
    You do know that as an odds complier you will not be able to bet on anything, even if it is nothing to do with your area.

    This is untrue. There's no conflict in interest punting with any company other than your own.

    If you're keen to get involved in sports or racing trading then simply apply to whatever companies you may want to work for. Most bookmakers sites have links on them to vacancies they currently have. Alternately, if you cannot find anyone offerring the specific position you want then apply for a different job in the company. This is a great way of getting your foot in the door, getting yourself known and having an advantage whenever a trading position becomes available. What do you want to do, sports or racing?


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    #10
    Danny2580
    Registered Users Posts: 432 ✭✭Danny2580


    It's racing I want to get into. It's the foot in the door bit that's most difficult I think.


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    #11
    telecaster
    Registered Users Posts: 528 ✭✭✭telecaster


    Apply to all of the firms that have a telephone betting operation and you may pick up a job relatively easily answering the phones. That's your foot in the door, show some initiative and an interest from there and you should be well on your way.


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    #12
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    Mellor wrote: »
    You do know that as an odds complier you will not be able to bet on anything, even if it is nothing to do with your area.

    Having worked in the HQ of one of the main bookies I can tell you that there a lot of punting goes on! The bookies always want to get one over on a rival if they think a price is wrong.

    Racing trader jobs don't come up as often as sports trader jobs. Just make sure you don't have to take on a risk position as well your head will be melted inside a month and you'll stay up all night sweating some random $20k bet you authorised on Womens Volleyball! Keep an eye out on the websites you should find something easy enough.

    Here's a sports one if you want to try get in there, it'll mean you know about a horse trading position sooner.

    http://www.workwithpaddy.com/index.php/jobs/662721


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