unigo_skin
© 2014 Shmoop University, Inc. All rights reserved.
 

Salary

The money a statistician can make varies pretty widely, depending on what area she's working in. A research statistician working for a private company makes an annual salary of approximately $65k, while a health statistician can earn about $20k more. Sports statisticians can make anywhere from $75k-$120k a year. Of course, those in a supervisory position may earn even more.

But consider this: One name for statistician is "quantitative analyst." Another is "bookie" or "bookmaker." How do you think a bookie—someone who makes it easy for others to bet on just about anything—makes his money? By studying the statistics and adjusting the odds in his favor by having a point spread. While bookies are pretty much illegal in the U.S., they are legal in…that’s right: Nevada—home of the casino, though bookmaking is legal in just about anything there. Bookmakers pay out the winners (taking a portion of the earnings for their trouble, of course) and keep the money of the losers. And online casinos have become a staple for bookies, as well.

A hard-working bookie in Vegas can earn upwards of $200k a year by simply knowing the statistics and the odds, and understanding the completely fragile nature of the gambler.

Advertisement
Advertisement
Advertisement
back to top