No they don't.

They have compilers who make, or compile, the prices and then they have traders who actually trade them. Technically traders are becoming less knowledgeable as computer models do a lot of the thinking these days and traders just deal with bets that go into the over ask or bets placed by players that have already been marked up for one reason or another and finally for unusually large bets, but again this depends on the sport and the event in that particular sport.

Having said only the really established big companies have compilers these days, a lot of the companies just source their odds from 2 or 3 different base companies and then tweek them slightly depending on how much of a liability they're willing to take on it. For you betting aficionados out there this is why it's best to bet with the not so large companies on the not so well known football leagues because they tend to just leave the prices as is. With a bit of research you'll see some obvious mistakes that you can take advantage off, but I am digressing.

A risk analyst in the sports gambling industry is more towards the customer side and nothing to do with the actual sport. They check deposits/withdrawals/suspicious players/fraud rings and things such as that. They're there to protect the money from any type of dodgyness, nothing to do with the actual sports.

I have worked in the industry for most of my working career so trust me when I say this please.

Cheers

Why would anyone chose to be a Seagull? The Eagle is a far superior creature.

The Seagull lives under it's damp pier meekly looking out, blinded by the sheer quality of the Eagle's palace.