Personally I could see this going either way. Hell, Odin is a god but, isn't that basically what Shazam was before the Spectre killed him. Not a god exactly but wasn't he basically on the same level as the Gods that originally gave him his power?
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Odin is the head of the Gods. Shazam is also not to be underestimated, but the Odinforce is a serious power which Thor in volume 2 couldn't really use. I mean he couldn't really use it's full potential.
Shazam got a couple of champions. And he is a strong Wizard but he isn't really the one who could beat Odin. We can't really talk about the one with the more experience would win coz both of them go serious knowledge and experience. My vote is on Odin.
You also have to keep in mid that he just fought Mordru(2nd highest LoOaC behind Nabu) and eventhough he was in the RoE, all Magic in the DCU was depowered from Spectre killing many important members.
I think Shazam is being underrated here. He is on the Quintessence which is a group of the most powerful beings in the DCU. That's some pretty good company to be in. He can defeat/stalemate Odin. They are pretty equal.
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How is Thor even in the same league as The Wizard Shazam? The Wizard Shazam is as powerful or nearly as Highfather, Ganthet, Zeus, and PS all of whom are on the quintessence.