What does SP mean in betting? (2023) ~ Definition of SP in Horse Racing 🏇
To start with the beginning, this is the simple definition of ‘what does SP mean in betting’: the starting price in SP horse racing simply represents the odds available on a horse at the start of the race in which it competes.
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What is the mechanism of SP? How does SP actually work?
SP has traditionally been computed by a group of racecourse officials based on the odds quoted by bookmakers with fixed odds on the race at the commencement of the race.
In the United Kingdom, this procedure for determining a horse’s SP normally entails ranking the bookmakers’ beginning prices from smallest to largest and splitting them into equal halves. SP is the shortest half price per course with the best odds supplied by the bookies.
When there are no bookmakers in the race, the SP is calculated by an official organization (in the UK, the Starting Price Regulatory Commission) using an example of a list of online bookmakers.
Why would I wager on SP rather than fixed odds?
When betting on a horse, bookmakers usually give you the option of backing the horse at the odds shown (taking the price) or backing the horse at SP.
Most bettors have few reasons to back a horse at SP, but with the introduction of the famous betting promotion, the best odds have ensured that most betting sites provide betting beginning at 9 a.m. on race day.
When you place a bet with the best guaranteed odds, you accept the best available price at the time of placement, but if the SP is higher than the odds accepted, you will be paid at the higher price. When you bet on SP, you run the risk of having worse odds than if you bet on the price.
Supporting your horse at SP can be an appealing alternative if you are convinced that the horse will get rid of bets before the start if you are betting with a bookmaker that does not offer the best guaranteed odds.
What does SP Mean in betting – What distinguishes SP from BSP or Betfair SP?
When discussing SP, ITV Racing analysts or broadcasters may also reference SP Betfair (BSP), which is a horse’s starting price on the Betfair Stock Exchange. The BSP is a little different because it is computed with both supporting and rolling bets.
What does SP mean in betting on horse races?
Although betting on a horse at SP may not be advantageous to gamblers, SP is utilized in a variety of horse racing calculations, including: Forecast and tricast bets – Some bookmakers use SP and the number of participants in their payouts to set them after the event. Tote Betting – If the horse you originally selected was deemed a non-participant after you selected it, several multi-stage Tote bets, such as Placepot or Scoop 6, will move your selection to your favorite SP.
