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An odds compiler generally works on valuations of odds and probabilities around various events and outcomes. The majority of odds compiler professionals who work for established employers take on a mix of tasks related to monitoring statistics, learning about current events, and using technology to document probabilities and values for bet payouts. This requires not only communication skills, but an advanced knowledge of the available tools and resources, as well as overall quantitative ability.
To get a good idea of the odds of any event, odds compilers often read newspapers and keep up on current events that individuals may bet on. These include sporting events, but may also extend to many other sorts of events and activities. Odds compiler professionals may also watch bets being placed to help with further evaluation of odds and probabilities for any given event.
Advanced math and research skills are key to this profession. An odds compliler may spend a lot of time researching various markets, or monitoring past profits and losses to establish good odds values that will help their employers to make a profit legally and fairly.
In-depth knowledge about different kinds of odds is often an essential skill for an odds compiler. One of these is line odds, which are based on betting volume and the expectations of bettors. Fair odds are odds that equalize opportunities for two sides of a bet. Both of these are important for the kinds of work that odds compilers do.
Professionals who work in odds compiling departments also need to have software skills. One piece of software that is commonly used by odds compiler professionals is the spreadsheet. These individuals may use spreadsheet software to document odds or bet payouts. Odds compilers may also use different kinds of odds wizards, which are customized pieces of software for analysis of statistics around probabilities or betting.
Along with doing all of the computational work around odds compiling, professionals in these job roles may do actual reporting within a division, or to corporate executives. The odds compiling department staffers may also work on advertising materials or other aspects of marketing, or work in conjunction with a sales team to do necessary outreach for a service or product related to betting or gambling.