In horse racing, the term ‘SP’ stands for Starting Price. These are the odds available at the start of the race.
On this page, you’ll find everything you need to know about SP and what it means in the betting industry. We’ll look into the definition of SP betting, and the specifics involved in various sporting events that are available to wager funds on with different betting sites.
What Does SP Mean In Betting?
SP stands for Starting Price, which means that you’ll be betting on the odds of a selection when a race starts. This can be somewhat of a gamble for punters, as they’re risking taking odds which could shorten from what they originally were in the lead-up to a race. However, it can sometimes be worth a punt, especially when odds on selections drift just before a race is set to start, and if that selection wins, you’ll be paid out at the higher odds.
SP is also accessible on betting sites that haven’t typically made the odds on each selection available, and for bettors who aren’t familiar with betting on horses or greyhounds, it saves them the trouble of worrying about how odds work in betting.
Another way you can look at SP is the odds in which a selection is settled. This can differ with different betting sites though, as they each look to offer the most competitive odds on selections across their sportsbook.
Horse Racing
SP in horse racing isn’t as popular as it once was, as the Best Odds Guaranteed (BOG) promotion is in place with most leading betting sites. However, typically, this promotion is only accessible from 9 am onwards on the day of the race you’re looking to wager funds on.
Therefore, with the BOG promotion, some punters will just use this instead of the SP as they’ll get the best odds offered on their selected horses, regardless of whether the price they backed shortens or drifts. Betting on the SP is more popular with betting sites that don’t offer the BOG promotion, and if you think that your selection will drift in price before the start of a race, then taking the SP might be the best option for you.
How Is SP Calculated?
You shouldn’t worry about the SP if you’re placing a single bet on horse racing, as you’re simply placing a bet on the odds that the selection starts a race at. However, if you have forecast or tricast bets, some bookmakers settle bets through the SP, which is calculated based on the odds and amount of runners involved in a race, although this can differ based on which betting site you’re using.
The Starting Price Regulatory Commission (SPRC) will calculate the SP for each selection using a list of online bookmakers when there aren’t any bookmakers present at a race meeting. The SP will be calculated by a panel of officials at a racecourse for horse racing or greyhounds, which is based on the odds being displayed by fixed-odds bookmakers that are present at the racecourse.
You can find out more about betting strategies on our page for how to bet online and a more in-depth look at odds with our odds explained page.
Bookies use SP because it will reflect the market and it also provides them with a strict way to determine the odds and also the payouts for any bets you have that win. By having SP in place, it makes the betting experience fair for all parties.
SP Favourite basically means starting price favourite. This term is used in horse racing and the SP favourite will always be the favourite horse to win the race when it starts.
SP is the starting price and SP in horse racing means the