What Does SP in Betting Mean?

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.

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.