What Does SP Mean in Betting?

If you’ve ever wandered into the world of horse racing, you might have stumbled upon the term “SP.” It’s one of those abbreviations that sounds important, but if you’re not clued in, it can feel like a secret code. Well, you’re in the right place to crack that code and add “SP” to your betting vocabulary!

What Does SP Stand For?

SP stands for Starting Price. In the simplest terms, the SP is the official odds of a horse (or greyhound) at the moment the race begins. If you’ve placed a bet without specifying the odds—like an SP bet—you’re agreeing to take the odds as they stand when the race starts.

How Does It Work?

Let’s break it down with an example. You fancy a horse in the 3:30 at Cheltenham, but you don’t like the look of the current odds. Maybe you’re hoping they’ll improve, or maybe you just don’t have the time to keep checking. So, you place your bet at SP.

• If the odds drift (i.e., get longer): Lucky you! If the horse starts at 10/1, that’s what you’ll get, even if it was 7/1 when you placed your bet.
• If the odds shorten (i.e., get smaller): You’ll still get the SP, but it might not be as generous as when you first looked. For example, if the odds were 10/1 but the horse starts at 7/1, you’re getting the 7/1.

It’s a bit of a gamble within your gamble, but it can be handy if you think the market is likely to shift in your favour.

Why Use SP?

There are a few reasons why you might choose to bet at SP:

• Convenience: If you’re placing a bet well before a race and don’t want to keep an eye on fluctuating odds, betting at SP can simplify things.
• Market Confidence: Some punters believe that SP offers a fair reflection of a horse’s chances, as it’s based on the final market consensus.
• Avoiding Early Market Volatility: Early odds can be quite volatile, especially in big races. SP can sometimes smooth out those fluctuations.

When SP Isn’t Ideal

While SP can be convenient, it’s not always the best option, particularly if you’re confident the odds will move against you. If you’re eyeing a horse that’s been tipped across the board, locking in your odds early might be smarter. Otherwise, you might end up with a less favourable SP.

A Quick Tip

Some bookmakers offer Best Odds Guaranteed (BOG), meaning if you take an early price and the SP is better, you’ll get the better odds. If your bookie offers this, it’s often a win-win.

See an overview of our Recommended Bookmakers.

Want to Know More?

If you’re intrigued and want to delve deeper into betting terms, head over to our Common Casino Questions Answered page. There’s always more to learn, and the more you know, the better your betting game!