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Evidence Guide: RGRSTD302A - Interpret wagering trends

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

RGRSTD302A - Interpret wagering trends

What evidence can you provide to prove your understanding of each of the following citeria?

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.
Industry jargon and abbreviations used in wagering are interpreted.

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Types of bets available are explained.

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Bookmakers' ledgers are interpreted.

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

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Evidence:

 

 

 

 

 

 

 

Monitor wagering.

  1. On-course and totalisator wagering trends are monitored.
  2. Off-course e-betting system wagers are monitored.
On-course and totalisator wagering trends are monitored.

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

Completed
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Relate odds offered to current form.

  1. Speed maps and predicted form are reviewed.
  2. Odds offered by a range of sources are compared to predicted form .
  3. Race performance is assessed against wagers made and reported.
Speed maps and predicted form are reviewed.

Completed
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Teacher:
Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:
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Race performance is assessed against wagers made and reported.

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

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).

Required Skills and Knowledge

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.

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.