Unit of competency details

RGRSTD302A - Interpret wagering trends (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 24/Sep/2008

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by and equivalent to RGRSTD302 - Interpret wagering trendsUpdated to meet Standards for Training Packages. Minor changes to performance criteria for clarity. 04/Jul/2018

Training packages that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  24/Sep/2008 
The content being displayed has been produced by a third party, while all attempts have been made to make this content as accessible as possible it cannot be guaranteed. If you are encountering issues following the content on this page please consider downloading the content in its original form

Modification History

Not Applicable

Unit Descriptor

Unit descriptor 

This unit of competency specifies the outcomes required to conduct pre-race and race meeting checks of a variety of documentation, including written, audio and visual, to monitor and interpret wagering information. It requires knowledge of the rules of racing related to bookmakers, bookmakers' clerks and other licensed and registered personnel, including owners. It also requires the application of mathematical and analytical skills to interpret wagering trends.

This unit of competency operates in workplace environments of racing administration, kennels, stables, racecourses and public areas.

Greyhound, harness and thoroughbred racing is strictly regulated throughout Australia. All stewards are appointed under the rules of racing by the relevant racing controlling body. For this reason enrolment in this unit of competency is restricted to people currently employed as a stipendiary or cadet steward or those who have been approved by a State Principal Racing Authority to undertake this unit.

Application of the Unit

Application of the unit 

This unit of competency supports betting stewards, supervisors and racing officials to perform the job functions associated with interpreting wagering trends.

Competencies attained in this unit apply to the greyhound, harness or thoroughbred code of the industry. Consequently when performance criteria are applied they will relate to the greyhound code or the harness code or the thoroughbred code, and statements of attainment for this unit will reflect this distinction.

Licensing/Regulatory Information

Not Applicable

Pre-Requisites

Prerequisite units 

Employability Skills Information

Employability skills 

This unit contains employability skills.

Elements and Performance Criteria Pre-Content

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Read and interpret wagering information.

1. Industry jargon and abbreviations  used in wagering are interpreted.

2. Types of bets  available are explained.

3. Bookmakers' ledgers are interpreted.

4. Information provided on totalisators and other betting or form analysis systems is interpreted.

Monitor wagering.

5. On-course and totalisator wagering trends are monitored.

6. Off-course e-betting system wagers are monitored.

Relate odds offered to current form.

7. Speed maps  and predicted form are reviewed.

8. Odds offered by a range of sources are compared to predicted form  .

9. Race performance is assessed against wagers made and reported.

Required Skills and Knowledge

REQUIRED SKILLS AND KNOWLEDGE 

This section describes the skills and knowledge required for this unit.

Required skills 

  • communicating with senior stewards, racing officials, and licensed and registered personnel using assertive communication techniques to gather, interpret and relay information related to wagering trends
  • completing duties in accordance with safe operating procedures and nominated time frame
  • computer skills, including:
  • data entry and retrieval
  • email and internet
  • spreadsheet applications
  • word processing
  • following OHS and environmental work procedures
  • identifying individual animals during running of races
  • numeracy and analytical skills to interpret odds fluctuations and record results
  • operating a range of equipment and technology
  • providing clear and concise reports on wagering trends in verbal and written formats
  • reading and interpreting workplace documentation, including rules of racing
  • relating to people from a range of social, cultural and ethnic backgrounds and with varying physical and mental abilities
  • teamwork skills to ensure completion of job tasks
  • using video and DVD recording and re-play devices
  • written communication skills to complete workplace documentation and reports.

Required knowledge 

  • communication procedures for communicating with other stewards and officials, including reporting lines within the workplace and wider racing industry
  • effect of track conditions and ratings, course layout and rail placement on animal performance
  • ethical conduct standards of relevant racing principal authority
  • greyhound or racehorse markings
  • industry terminology related to wagering and wider racing industry
  • OHS and environmental legislative requirements
  • odds fluctuations and unusual betting patterns
  • organisational policies and procedures
  • principles of effective communication
  • procedures for operation and maintenance of office equipment and other technology
  • reasons racing animals may not perform as expected
  • relevant rules of racing
  • reporting requirements for irregularities and problems.

Evidence Guide

EVIDENCE GUIDE 

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Critical aspects for assessment and evidence required to demonstrate competency in this unit 

The evidence required to demonstrate competency in this unit must be relevant to workplace operations and satisfy all of the requirements of the performance criteria, required skills and knowledge and the range statement of this unit and include evidence of the following:

  • knowledge of the requirements, procedures and instructions that are to apply when interpreting wagering trends
  • demonstration of the ability to analyse race form and predict expected race results, interpret bookmakers' ledgers, totalisators and other systems, and accurately monitor betting fluctuations
  • implementation of procedures and timely techniques for the safe, effective and efficient application of cadet steward duties
  • working with others to undertake and complete the required procedures that meet required outcomes.

Evidence should be collected over a period of time in a range of racing operations and administration-relevant contexts, and include dealings with an appropriate range of situations.

Context of and specific resources for assessment 

Competency must be assessed in a racing workplace that provides access to the required resources. Assessment is to occur under standard and authorised work practices, safety requirements and environmental constraints. It is to comply with relevant regulatory requirements or Australian Standards requirements.

Assessment of the practical components of this unit will be by observation of relevant skills.

The following resources must be available:

  • materials and equipment relevant to assessing candidate's ability to interpret wagering trends
  • racing administration buildings, race meetings and related facilities
  • work instructions and related documentation.

Method of assessment 

Assessment methods must satisfy the endorsed Assessment Guidelines of the Racing Training Package.

The suggested strategies for the assessment of this unit are:

  • written and/or oral assessment of candidate's required knowledge
  • observed, documented and firsthand testimonial evidence of candidate's application of practical tasks
  • case studies to assess candidate's ability to provide written and/or oral responses to various scenarios.

Evidence is required to be demonstrated over a period of time, therefore where performance is not directly observed any evidence should be authenticated by supervisors or other appropriate persons, at least one of whom should be approved by the State Principal Racing Authority.

This unit may be assessed in a holistic way with other units of competency relevant to the industry sector, workplace and job role, for example:

  • RGRCMN001A Comply with the rules of racing and related protocols
  • RGRROP408A Perform duties of betting supervisor or steward at greyhound or horse race meetings.

Guidance information for assessment 

Assessment methods should reflect workplace demands (e.g. literacy and numeracy demands) and the needs of particular target groups (e.g. people with disabilities, Aboriginal and Torres Strait Islander people, women, people with a language background other than English, youth and people from low socioeconomic backgrounds).

Range Statement

RANGE STATEMENT 

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below.

The range statement provides details of how this competency can be used in the workplaces of the racing industry to interpret wagering trends. Workplaces include greyhound, harness and thoroughbred racecourses, training tracks and administration buildings.

Stewards oversee the conduct of all racing-related activities within the responsibilities and powers described under the rules of racing. The conditions under which this unit is delivered and assessed must take into consideration these powers and responsibilities. These powers and responsibilities are further described in the rules of racing for the relevant racing code. It is strongly recommended that training facilitators and learners refer to these powers and responsibilities as part of the range of conditions for all units covered in the steward specialist area of the Training Package.

Industry jargon and abbreviations  may include:

  • appeared to falter
  • barrier or box draw
  • came together in the run
  • changing stride
  • checking
  • climbing
  • crossing towards the rails
  • crowding
  • hanging
  • jumped smartly
  • laying in
  • losing ground
  • over racing
  • race distance
  • raced wide
  • racing ungenerously
  • sectional times
  • steadying off the heels
  • tailed off
  • track condition.

Types of bets  may include:

  • bet-backs
  • betting exchange transactions
  • daily double
  • dividend odds
  • each way
  • exacta
  • electronic betting
  • quadrella
  • quinella
  • sports betting
  • telephone betting
  • trifecta
  • win and place
  • win only.

Speed maps  may be prepared through use of:

  • form guides
  • race books
  • stewards' reports
  • other form reviews, including video replays of races, trials and trackwork.

Impact upon predicted form  may include:

  • class or grading of race
  • driver or rider error and experience
  • horse's age and number of race or trial starts
  • other incidents such as interference, including:
  • careless driving or riding
  • changes in strategies
  • crossing another horse
  • crowding
  • gear usage
  • hampering
  • injury in running
  • jostling
  • lack of race fitness
  • missing the start
  • taking the running
  • variety of tracks and track conditions.

Unit Sector(s)

Unit Sector 

Greyhound, harness and thoroughbred racing codes

Co-requisite units

Co-requisite units 

Functional Area

Functional Area 

Racing common

Training component details
The following details are displayed for each different NRT:-

Training packages

- Training package details
- Training package components

Qualifications

- Qualification details
- Qualification components

Accredited courses

- Accredited course details

Modules

- Module details

Units of competency

- Units of competency details
- Unit components

Skill sets

- Skill set details
- Skill set components

Click on the Export link to export the NRT information to MS Word or PDF.

Click on the Manage notification link to create or change a notification for this NRT.

When selecting the Display history check box a set of tables will appear displaying a log of historical values describing what has changed and when over time.

If you have access to make changes to an NRT, click on the Edit link on the upper right hand side of the summary box.