What Does SP Mean in Betting?
Anyone who is quite new to betting on sports can be forgiven for feeling a bit confused about all of the different jargon and technical terms that can be used at UK online betting sites. Starting price, or SP as it is also called, is a good example of this. So what does SP mean in betting? Our complete guide tells you all you need to know, so read on.
Starting Price (SP) Explained
SP stands for 'Starting Price' but it is usually shown as just SP on most online betting sites. The starting price refers to the odds that are being offered at the time a horse race gets started.
Prices for horse racing are very fluid, with significant changes in the odds taking place all the way up to when the starting pistol is fired. This is because the horse racing bookmakers in the UK respond to where money is going.
The SP for a horse that is heavily backed by racing fans in the build-up to a major race can therefore be a lot shorter than the odds that were being advertised right at the start of the day.
Of course, odds can lengthen as well as shorten, with some previously fancied horses ending up starting a race with a much higher SP than they might have been offered hours earlier.
SP and Best Odds Guaranteed
Most UK online bookmakers have a variety of betting sign-up offers available, including for horse racing. One of the most common evergreen promotions for the sport of kings, however, is Best Odds Guaranteed (BOG). This means that customers will receive the top prize available for their selected horse, no matter what the horse's SP is, which results in a big boost to the potential profits that are up for grabs.
As an example, let's say that a racing fan has picked out a selection for a race at Royal Ascot. The horse is initially available to back at 10/1 to win the race, but in the build-up to it getting underway, the odds offered for the horse drift out and reach as high as 15/1. If the SP - the starting price - is 15/1 for the horse on a betting site, the BOG promotion means that the customer will be paid out their winnings at 15/1, rather than 10/1.
So let's say the customer put on £10 for the horse to win. With the 10/1 price, that would have resulted in profits of £100 from the bet. But because the BOG promotion pays out at the top SP available, the 15/1 price means a profit of £150 would be received - an extra £50 on top.
Racing fans who want to get the best SP available should always use a bookie with BOG.
Should You Bet at Fixed Prices or SP?
One of the questions horse racing fans are likely to be asking is if they should take a fixed price for their selection, or instead opt to take the SP when they are placing wagers on big meetings.
Customers who like to place ante-post wagers well in advance of a major race might prefer to take a fixed price, in the event they believe the odds for a horse are going to come down later.
Sometimes only SP is available when browsing the ante-post markets for future horse races. But a lot of the time, especially when using a UK betting site with a BOG promotion in place, it will be preferable to place a wager using the SP option anyway.
This is because players are guaranteed to receive the best SP odds available, which a lot of the time will be better than the fixed prices that were being offered earlier on in the day.
Starting Price (SP) FAQ
What is Starting Price (SP)?
How Is the SP Calculated by Betting Sites?
Why Does SP Matter?
Steven is an experienced iGaming content writer who has been working in the industry since 2018. He is passionate about sports betting and enjoys writing about all aspects of the industry, including bookmaker reviews, betting tips and strategies, and news and analysis. If you have any questions about online gambling in the UK, please don't hesitate to contact him.