What Is The Starting Price In Betting? What Does SP Mean?

Posted on by Toby @ Punter2Pro

The starting price (SP) is a term commonly used in horse racing and greyhound racing, referring to the odds assigned to a particular runner at the start of the race.

When a bettor opts to take the SP, they agree in advance to accept whatever price the runner goes off at.

Here’s everything you need to know about the Starting Price.

 

What Is The Starting Price (SP)?

The Starting Price (SP), sometimes referred to simply as the “start price”, is the final price assigned to a runner immediately before the race begins. Bettors who choose to place bets at SP will have any winnings settled using these final odds.

Betting odds often fluctuate in the build-up to a race, influenced by factors such as betting activity, market sentiment and late-breaking information affecting a runner’s perceived chances. Depending on the market, bettors may encounter different forms of Starting Price, including the official industry SP and exchange-based prices such as the Betfair Starting Price (BSP).

The Betfair Starting Price (BSP) is widely regarded as one of the most accurate reflections of a runner’s true market value at the off. This is because the BSP is determined by the collective wisdom of Betfair exchange users, who are actively backing and laying bets based on their own assessments of each runner’s chances.

 

How Is The Starting Price (SP) Set?

The method used to determine the official Starting Price varies between jurisdictions. The explanation below refers to the UK system, which remains the best-known version of the SP.

Traditionally, the UK Starting Price has been determined by a panel of officials at the racecourse, based on the average odds quoted by on-course fixed-odds bookmakers. Where no on-course bookmakers are present, the Starting Price Regulatory Commission calculates the SP using prices from a representative sample of UK online bookmakers.

This traditional method does not directly account for the volume of bets placed off-course—such as those placed in betting shops or online—which has led to ongoing debate over whether the official SP always reflects a runner’s true market value.

With race attendance declining and online betting now accounting for the majority of wagers on horse racing, the official Starting Price often closely mirrors prices available on betting exchanges.

The Betfair Starting Price (BSP), however, is calculated differently. Rather than relying on quoted bookmaker prices, it is determined directly by the exchange market, where bettors choose whether to back or lay a selection. Because exchange prices do not include a traditional bookmaker margin, many bettors consider the BSP to be a more accurate reflection of a runner’s fair market price.

 

Significance Of The Starting Price

The Starting Price marks one of the most important moments in the betting market. Just before the race begins, betting activity reaches its peak, the greatest volume of bets is matched, and the market has absorbed almost all publicly available information.

By this stage, the odds represent the collective judgement of both recreational and professional bettors.

As the race approaches, informed bettors typically enter the market in greater numbers, helping refine prices even further. Competition increases, Back and Lay odds converge, and the market generally becomes more efficient at assessing each runner’s true probability of winning.

For this reason, finding value at the Starting Price is difficult. By the time the race begins, most pricing inefficiencies have already disappeared. This is precisely why many professional bettors aim to secure value earlier in the day rather than relying on the SP.

 

Beating The Starting Price

Throughout the day leading up to a race, betting odds fluctuate considerably before eventually settling at prices the market considers fair. Comparing the price you obtained with the eventual Starting Price therefore provides a useful indication of whether your bet represented value.

In general:

  • If the Starting Price is higher than the odds you took, it generally suggests you failed to obtain value (although Best Odds Guaranteed can offset this if available).
  • If the Starting Price is lower than the odds you took, it generally indicates you secured a value bet—a concept commonly known as Beating the SP or Beating the Closing Line.

Comparing your prices against the SP is one of the simplest ways to evaluate the long-term effectiveness of your betting strategy, selection process or tipsters. Consistently beating the market is often a stronger indicator of future success than short-term betting results.

 

Best Odds Guaranteed

Best Odds Guaranteed (BOG) is a popular promotion offered by many UK and Irish bookmakers, allowing bettors to benefit if the official Starting Price is bigger than the odds they originally took.

Here’s how it works:

  • If you back a horse at 4/1 and it wins with an SP of 5/1, you’ll be paid at 5/1.
  • If you back a horse at 4/1 and it wins with an SP of 3/1, you’ll still be paid at 4/1.

Best Odds Guaranteed removes much of the risk of taking an early price by ensuring you receive whichever odds are greater. Betting exchanges do not offer this benefit because exchange prices are determined directly by the market rather than by bookmakers.

For further insights into the advantages of bookmakers over exchanges, see: Why Use Bookmakers Instead of The Exchange?

Toby @ Punter2Pro
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