With so many different markets and terminologies, horse race betting seems to be a complicated affair. However, with a little bit of research, it is possible to get the basics right. What does sp mean in horse race betting? Let us find out.
What does sp mean in horse race betting?
Sp is an abbreviation for Starting Price. It is basically the odds at which the horse starts running the race.
How is sp calculated?
Sp is usually calculated by a panel of officials at the racecourse where the race is happening. They will collect data from all the on-course bookies, regarding the odds that they are offering for a horse running at the race. Now, these odds are arranged in ascending order, starting from the shortest odds to the longest odds for that particular horse, as offered by the on-course bookies. This odds list is divided into two equal halves, and the shortest odds available in the half containing the longer odds id considered to be the official SP of a horse.
Many bookies offer a `best priced guaranteed´ option in the pre racing market, where if the odds at which you placed the bet turns out shorter compared to the sp, the returns are automatically counted according to the sp, should you win the bet. If that option is not available, the bets are settled at the price at which you placed the wager, irrespective of the sp.
What does sp mean in horse race betting?
Sp, therefore, is a double-edged sword, especially if you are looking for ante-post or pre-race bets, especially if you are getting good odds on your favorite selections.
In some types of tote bets, in case your selection is a born runner, the stake is automatically wagered on sp favorite, rather than the bet turning void.
