Sports Trader
HOW TO BECOME A SPORTS TRADER
In the sports betting market, there are 3 key players: the bettor, who, as the name suggests, is the person who bets. The bookmaker, who is entitled to take the bet, and the sports trader, who, through their work and the help of data-collection specialists, determines the odds and potential bets through which the other two stakeholders could make a profit.
What is sports trading?
Following a new regulation in France in 2010, sports betting has seen unprecedented growth, with €3.9 billion in bets for 822,000 bettors in 2018, according to Le Dauphiné newspaper. This craze shows no sign of waning, and new betting sites are popping up all the time. This was particularly the case during the 2018 Soccer World Cup which produced many winners.
There are around sixty sports traders in France, half of whom work for the Française des Jeux (FDJ – French game and betting federation). However, other companies recruit sports traders in France, including: Betclic, PMU, Winamax, ParionsSport, Genybet, Tipset, Netbet, Unibet, Turf, Betfirst, ParionsWeb, or Bwin… As sports is an international business, it is also possible to work for French and foreign bookmakers and online betting sites.
For the time being, betting on Esports competitions (video game competitions) is not authorized by the French Online Gaming Regulatory Authority (ARJEL). However, the FDJ created a cashless betting platform to place bets and win prizes. Esports is an increasingly juicy market, and gambling in this field may very well be legal one day.
What are the duties of a sports trader?
As a reminder, sports traders are professionals employed by bookmakers or online betting sites. They are in charge of sports bets of varying nature: the possibility of a draw in soccer, a handball team’s victory, the number of total shots during a basketball match, the scorer of a hockey match, times in a sailing race, the winner of the NBA, etc. Online sports betting sites offer a lot of different betting options.
Each site offers opportunities to bet on championships, sports competitions and tournaments which have been approved on the sports betting market. Note that the best sites are those that offer the best odds.
However, soccer and horse betting are the most popular, although nowadays it is possible to bet on almost any sport.
The sports trader’s role consists in defining the betting odds, mindfully of the bookmaker’s interest and possible earnings for bettors. Also known as a sports oddsmaker at a bookmaker’s, this professional must demonstrate a thorough knowledge of the world of sports and probabilities in order to be able to offer a so-called objective prognosis.
Sports traders are in charge of offering compelling betting options to attract new bettors. They can also help design promotional operations such as welcome offers, free bets, double bets and double chances, to boost the site’s competitiveness. Such operations may prompt new customers to place their first bet.
In sports betting, the sports trader’s role will also include drawing up a financial risk analysis; in other words, a calculation to help implement strategies so bookmakers can make a profit.
They must also factor in the martingale strategy and other techniques used by players who try to win over the long term.
Winning a sporting bet can sometimes be like playing a game of chance! The odds-on favorite at a sporting event doesn’t always have the best chances of winning. However, knowing how to win sometimes amounts to a lucky guess. And oddsmakers know this!
Key qualities and skills required of a sports trader
Sports betting is ruled by the science of statistics and probabilities. In other words, lots of figures! Therefore, sports traders must have a flair for figures and calculation. Especially since these calculations are to ensure that bookmakers can generate a profit on the bets. However, sports traders must also offer high, competitive odds to attract players and allow them to make a profit.
In addition, sports traders must obviously demonstrate in-depth knowledge of many sports. Their knowledge of sports current events, mechanisms and culture, as well as of the underpinnings of the business, will help them create probabilities that are as realistic as possible. Specialization in several sports or in specific leagues can be a plus, because the more expertise traders have in a specific field, the more likely they are to set relevant odds.
Lastly, sports traders must analyze the behavior of the bettors themselves. This will play a decisive role in defining the odds since it will affect the amounts bet on a given team.
Good stress management skills during events, as well as availability combined with fluency in several foreign languages can make all the difference.
Salary and career prospects for a sports trader
Betting oddsmakers can expect to earn a monthly net salary between €1,900 and €2,500 early in their career. Because this is a competitive job, traders often earn performance bonuses. Towards the end of their career, a good trader can expect a €5,500 net monthly salary including bonuses. Experienced sports traders may also set up their own odds making agency to earn a higher salary.
What are the qualifications required to become a sports trader?
The job of a sports trader is demanding, requiring a wealth of knowledge. You need to be comfortable with figures, have an analytical mind, master the laws of the game, and above all have a very good knowledge of the sports sector.
That’s why most sports traders have a degree (Bac+3 or Bac+5). To be best equipped for this challenge, it is possible to take a Bachelor’s degree, followed by a Master’s, and specialize in webmarketing, for example.
Following a new regulation in France in 2010, sports betting has seen unprecedented growth, with €3.9 billion in bets for 822,000 bettors in 2018, according to Le Dauphiné newspaper. This craze shows no sign of waning, and new betting sites are popping up all the time. This was particularly the case during the 2018 Soccer World Cup which produced many winners.
There are around sixty sports traders in France, half of whom work for the Française des Jeux (FDJ – French game and betting federation). However, other companies recruit sports traders in France, including: Betclic, PMU, Winamax, ParionsSport, Genybet, Tipset, Netbet, Unibet, Turf, Betfirst, ParionsWeb, or Bwin… As sports is an international business, it is also possible to work for French and foreign bookmakers and online betting sites.
For the time being, betting on Esports competitions (video game competitions) is not authorized by the French Online Gaming Regulatory Authority (ARJEL). However, the FDJ created a cashless betting platform to place bets and win prizes. Esports is an increasingly juicy market, and gambling in this field may very well be legal one day.
As a reminder, sports traders are professionals employed by bookmakers or online betting sites. They are in charge of sports bets of varying nature: the possibility of a draw in soccer, a handball team’s victory, the number of total shots during a basketball match, the scorer of a hockey match, times in a sailing race, the winner of the NBA, etc. Online sports betting sites offer a lot of different betting options.
Each site offers opportunities to bet on championships, sports competitions and tournaments which have been approved on the sports betting market. Note that the best sites are those that offer the best odds.
However, soccer and horse betting are the most popular, although nowadays it is possible to bet on almost any sport.
The sports trader’s role consists in defining the betting odds, mindfully of the bookmaker’s interest and possible earnings for bettors. Also known as a sports oddsmaker at a bookmaker’s, this professional must demonstrate a thorough knowledge of the world of sports and probabilities in order to be able to offer a so-called objective prognosis.
Sports traders are in charge of offering compelling betting options to attract new bettors. They can also help design promotional operations such as welcome offers, free bets, double bets and double chances, to boost the site’s competitiveness. Such operations may prompt new customers to place their first bet.
In sports betting, the sports trader’s role will also include drawing up a financial risk analysis; in other words, a calculation to help implement strategies so bookmakers can make a profit.
They must also factor in the martingale strategy and other techniques used by players who try to win over the long term.
Winning a sporting bet can sometimes be like playing a game of chance! The odds-on favorite at a sporting event doesn’t always have the best chances of winning. However, knowing how to win sometimes amounts to a lucky guess. And oddsmakers know this!
Sports betting is ruled by the science of statistics and probabilities. In other words, lots of figures! Therefore, sports traders must have a flair for figures and calculation. Especially since these calculations are to ensure that bookmakers can generate a profit on the bets. However, sports traders must also offer high, competitive odds to attract players and allow them to make a profit.
In addition, sports traders must obviously demonstrate in-depth knowledge of many sports. Their knowledge of sports current events, mechanisms and culture, as well as of the underpinnings of the business, will help them create probabilities that are as realistic as possible. Specialization in several sports or in specific leagues can be a plus, because the more expertise traders have in a specific field, the more likely they are to set relevant odds.
Lastly, sports traders must analyze the behavior of the bettors themselves. This will play a decisive role in defining the odds since it will affect the amounts bet on a given team.
Good stress management skills during events, as well as availability combined with fluency in several foreign languages can make all the difference.
Betting oddsmakers can expect to earn a monthly net salary between €1,900 and €2,500 early in their career. Because this is a competitive job, traders often earn performance bonuses. Towards the end of their career, a good trader can expect a €5,500 net monthly salary including bonuses. Experienced sports traders may also set up their own odds making agency to earn a higher salary.
The job of a sports trader is demanding, requiring a wealth of knowledge. You need to be comfortable with figures, have an analytical mind, master the laws of the game, and above all have a very good knowledge of the sports sector.
That’s why most sports traders have a degree (Bac+3 or Bac+5). To be best equipped for this challenge, it is possible to take a Bachelor’s degree, followed by a Master’s, and specialize in webmarketing, for example.
