Educated character ready to ignore the odds (8)

I believe the answer is:

lettered

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'educated' is the definition.
(similar in meaning)

'character ready to ignore the odds' is the wordplay.
I cannot quite understand how this works, but
'character' could be 'letter' (synonyms) and 'letter' is found within the answer.
The remaining letters 'ed' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...

Can you help me to learn more?

(Another definition for lettered that I've seen is " Formally educated".)

I've seen this clue in The Telegraph.

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