What does SP mean in betting?

Any bettor who has looked at a race market for greyhounds or horses on betting sites may have spotted the abbreviation SP next to a competitor, rather than the usual betting odds. Those learning how to bet on sport might be unsure what SP stands for, so the Standard’s betting team have put together a guide on what SP means in betting and how it works.Read MoreWhat does SP mean in betting?SP stands for Starting Price, the official price at which a horse or greyhound is trading when a race begins. It is used to settle bets where the bettor has chosen to take the Starting Price rather than a fixed price available earlier.The SP is determined independently of any individual bookmaker and is based on prices available across the on-course betting ring at the off. This means it is intended to reflect the wider market rather than the odds offered by one operator. SP is mainly associated with horse racing and greyhound racing, where this on-course price mechanism exists.How SP odds workWhen a bettor selects SP instead of a fixed price on horse racing betting sites, their stake is settled at the Starting Price available when the race begins. The final betting odds can therefore be different from those displayed when the bet was placed.For example, imagine a fictional horse called Silver Comet is available at 5/1 earlier in the day. A bettor places a £10 win bet at SP, but the horse starts at 7/1. The winning return would be £80, including the £10 stake. Had the bettor taken the earlier 5/1 price, the return would have been £60.Choosing SP means accepting that the price can shorten or drift between placing the bet and the start of the race. As betting strategies go, taking the SP creates some uncertainty compared with taking a fixed price, but the final odds are based on the market at the start of a race.When is SP used and why bettors choose itSP is typically selected when placing a bet on a race, particularly for win and each-way bets on race-winner markets. It is not usually available for ante-post bets placed well before the race, where the price is normally fixed when the wager is accepted.There are two main reasons a bettor might choose SP. They may expect the odds on a horse to drift before the off, or they may prefer a market-reflective price rather than relying on one bookmaker's early odds. This is particularly relevant when comparing prices available on betting apps.The trade-off is that SP can move in either direction. A bettor who takes an early price locks in those odds, while someone choosing SP accepts the possibility of a better or worse price at the start.Read MoreFAQsWhat is SP in betting?SP means Starting Price. It is the official price used to settle a bet when a bettor chooses SP rather than an earlier fixed price. In racing, it is based on the market at the start of the race and is intended to reflect the wider betting market.Is SP better than taking an early price?There is no fixed answer. If a horse's price shortens before the race, SP could provide better odds than an earlier price. If it drifts, the early price could have been more favourable. The choice depends on how the market moves before the off.We aim to offer every online gambler and reader of The Standard a safe and fair platform through unbiased reviews and offers from the UK's best online gambling companies.Gambling can be addictive, always play responsibly and only bet what you can afford to lose. Gambling sites have a number of tools to assist you to stay in control, including deposit limits and time outs. If you think you have a problem, advice and support is available for you now from BeGambleAware or Gamcare.Any offers or odds listed in this article are correct at the time of publication but are subject to change. Terms & Conditions apply to all offers.