Betting
What Does SP in Betting Mean?
Learn all about SP betting in horse racing with our comprehensive guide. Discover what SP means, how it's calculated, and the benefits of betting at the Starting Price.
SportsBoom offers honest and impartial bookmaker reviews to help you make informed choices. While we may earn commissions through affiliate links, our content remains independent and free from promotional influence. For more information, see our Content Transparency and How We Review pages.
Image Credits: Animac Wear
If you love wagering on horse racing at the best online sportsbooks, you need to know the SP betting.
Today, we’ll answer the question ‘What does SP mean in betting’, giving you explanations and examples along the way, so that you can have the very best experience the next time you bet on the ‘gee-gees’!
Ready to learn more? Let’s get started.
SP Meaning Explained
SP stands for "Starting Price," which is a term commonly used in horse racing betting. The SP is the final price or odds of a horse at the start of the race, as determined by the on-course bookmakers.
The SP is calculated based on the odds available at the racecourse when the race begins, reflecting the market's consensus on the horse's chances of winning.
The SP is crucial for several reasons, including:
● Standardisation: SP provides a reference point for payouts when fixed odds are not used
● Transparency: It ensures that the odds are determined based on real-time betting activity right up until the race starts, offering a fair reflection of the horse's chances by the broader betting market
● Comparability: SP allows you to compare your bet against the official starting odds, which can be particularly useful for assessing value
Why Should I Bet Using the SP Instead of Fixed Odds?
Betting using the SP can offer several advantages over fixed odds. Let’s take a look at some of these potential benefits in a little more detail.
Potential for better value
When you place a bet at SP, you're effectively gambling that the odds will improve by race time. If the horse's odds lengthen (increase) after you place your bet, you will benefit from these higher odds.
Convenience
If you prefer to place your bets well before the race but don't want to constantly monitor the odds, SP betting is a convenient option. It eliminates the need to time the market to secure the best fixed odds.
Protection against ‘drifting’
Sometimes, a horse's odds can ‘drift’ (lengthen) significantly from the time you place your bet to the start of the race. By betting at SP, you protect yourself from the risk of taking shorter odds early on, only to see the odds lengthen closer to the race.
Market reflection
The SP reflects the collective judgment of the betting public and bookmakers at the racecourse. This can sometimes offer a more accurate assessment of a horse's chances compared to fixed odds, which may fluctuate based on early betting patterns and individual bookmaker strategies.
Promotions and offers
Some bookmakers offer guarantees on SP bets, such as ensuring you receive the SP if it is higher than the fixed odds you initially took. These promotions can add extra value to SP betting.
Image Credits: Quirks
How is SP Calculated?
The calculation of the Starting Price (SP) in horse racing involves several steps to ensure it accurately reflects the consensus odds at the start of the race.
Here's a breakdown of the process.
Collection of odds
● Leading up to the race, on-course bookmakers offer odds on each horse
● These odds are continuously updated based on the bets placed by punters
Establishment of an independent panel
● An independent panel, often comprised of officials from the racing authority, monitors the odds offered by bookmakers
● This panel is responsible for determining the SP to ensure fairness and transparency
Sampling of odds
● The panel collects the odds offered by a representative sample of bookmakers. This sample typically includes bookmakers with significant market activity and influence
● The sample aims to capture a comprehensive snapshot of the market, avoiding any anomalies from individual bookmakers
Calculation of the SP
● From the sampled odds, the panel calculates the median odds for each horse. The median is chosen over the mean to minimize the impact of outliers
● The odds from the lower half of the sample (excluding extreme high odds) are often given more weight to ensure the SP is not skewed by a single high-odds bookmaker
Final adjustment and declaration
● The calculated SP is reviewed to ensure it accurately represents the betting market's consensus
● Once finalized, the SP is declared and becomes the official starting price for the race
Featured Bookmakers
- Over 50 sports markets with several niches
- Live streaming and in play offering
- Over 50 sports markets with several niches
- Live streaming and in play offering
- Over 50 sports markets with several niches
- Live streaming and in play offering
- Licensed and regulated
- Wide range of markets
- Licensed and regulated
- Wide range of markets
- Licensed and regulated
- Wide range of markets
- Wide sports coverage
- Strong esports offering
- Wide sports coverage
- Strong esports offering
- Wide sports coverage
- Strong esports offering
- VIP Telegram service
- No KYC
- VIP Telegram service
- No KYC
- VIP Telegram service
- No KYC
- Support multi language
- Wide range of crypto accepted
- Support multi language
- Wide range of crypto accepted
- Support multi language
- Wide range of crypto accepted
- Wide range of markets
- Strong bonus offering
- Wide range of markets
- Strong bonus offering
- Wide range of markets
- Strong bonus offering
- Many sports betting optiond
- Multiple Indian languages
- Many sports betting optiond
- Multiple Indian languages
- Many sports betting optiond
- Multiple Indian languages
How does the SP differ from Betfair SP?
While both SP and Betfaor SP (BSP) provide a starting price for bets, they are derived from different sources and calculated using different methods.
The SP reflects the traditional bookmaker-driven market, whereas the BSP represents a broader, more dynamic online betting market. Choosing between the two depends on your betting preferences and where you believe you'll find the best value.
Example of SP Bet
Imagine you are betting on a horse race and you choose to place an SP bet on a horse named ‘Lightning Bolt’.
● Scenario: You place a £10 bet on Lightning Bolt to win, opting for the SP
● Outcome: At the start of the race, the SP for Lightning Bolt is declared at 5/1 (6.00 in decimal odds)
● Payout calculation: If Lightning Bolt wins the race, your payout would be calculated based on the SP of 5/1
● Payout: £10 x 5 = £50 (plus your original stake of £10)
● Total return: £60
In this example, you benefit from the SP if it turns out to be higher than the fixed odds available at the time you placed your bet.
If you want to learn more about betting strategies, make sure you always come to us here at SportsBoom. We keep you in the know with our latest news, reviews and guides.
FAQ
SP stands for ‘Starting Price’, the final odds of a horse at the start of the race, determined by on-course bookmakers. It reflects the market consensus on the horse's chances of winning.
On bet365, the SP is the final odds offered at the start of the race, reflecting the consensus odds from on-course bookmakers. Bet365 may offer ‘best odds guaranteed’, ensuring you receive the higher SP if it exceeds the fixed odds you initially took.
In Paddy Power, SP refers to the final odds available on a horse at the start of the race, determined by on-course bookmakers. Paddy Power often provides ‘best odds guaranteed’, ensuring payouts at the higher SP if it’s higher than the initial fixed odds.
With 10 years of experience in content writing, Alyx has produced countess guides, reviews and articles covering a wide range of topics in the iGaming industry. She loves anything to do with online casinos, as well as UK and international sports betting.
Related Content
- Best AI Sports Betting Prediction Software
- What are Teasers in Sports Betting?
- Managing Emotional Bias
- What Are The Best Sports To Bet On?
- Parimutuel Betting Guide
- What is a Prop Bet in Sports Betting?
- Superfecta Betting Explained
- What is an If Bet in Sports Betting?
- AI in Sports Predictions
- Futures Wagers Strategy
- Dead Heat Rules Betting
- Roulette Beginner's Guide
- Future of Betting Trends
- Line Movement & Sharp Action
- Fixed Odds Betting Explained
- What is a lucky 15 bet
- What Does Doubles Mean in Betting?
- What Does Overround Mean in Betting?
- What Does PK Mean in Betting?
- Wire-to-Wire Bets
- Social Media for Sports Insights and Wagering
- What Does 'The Chalk' Mean in Sports Betting?
- What is a ladder in sports betting?
- What is Head to Head Bets?
- What is a Winning Margin Bet?