In horse racing, the starting price (SP) is the odds prevailing on a particular horse in the on-course fixed-odds betting market at the time a race begins. The method by which SPs are set for each runner varies in different countries but is generally by consensus of an appointed panel on the basis of their observations of the fluctuation in prices at the racetrack.

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What Does Sp Mean In Horse Race Betting People who work with horses professionally tend to have a lot of contact with various horse owners, so they are often the first ones to learn about available horses in their area. “flossie is really going for it,” she called out. 25 is equivalent to 3/1 against, and so on. In the sports betting industry, there is a form of tax sportsbooks use called “juice” or “vig ”. This is to ensure that the sportsbooks turn a profit regardless of the outcome of a particular game. However, sometimes the sportsbooks feel generous enough to offer up a “tax-free” line. What Does Pk or Pick’em Mean in the Point Spread? PK or Pick’em means that the matchup is so close that there’s neither a favorite nor an underdog. Whatever team you pick to win when betting on the point spread simply has to win the game and the margin of victory doesn’t matter.

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This is done as follows:

For each horse the odds offered by the bookmakers are ordered into a list from longest to shortest. This list is then divided into two equal halves and the SP is the shortest odds available in the half containing the longest odds. Thus the SP or a longer price will have been offered by at least half the bookmakers in the sample.^[1]

Note: This method is slightly different from the method of calculating the median.

The principal function of a starting price is to determine returns on those winning bets where fixed odds have not been taken at the time the bet was struck.

Typically, on the day of the race, UK bookmakers offer a choice between placing a bet at SP, or taking a fixed price.^[2] When viewing future races, SP may be the only option available.

Some bookmakers offer best odds guaranteed, meaning that if a punter takes fixed odds on a race when the bet is struck and the SP turns out to be better (that is, higher), then if the punter wins, the payout is calculated using the SP. This is aimed at removing hesitancy among punters prompted by fears of taking what might prove to be a poor (that is, low) price before the race.^[3]

In the United Kingdom, the stake on an SP bet is returned if the horse is withdrawn before the race starts. For fixed-odds (ante-post) bets, the stake is retained by the bookmaker.

References[edit]

^http://www.thesprc.org/rules-regulations/ Rules for determining the Starting Price
^'What Does SP Mean At Bookmakers? » Which Bookie'. Which Bookie. 2017-02-01. Retrieved 2017-02-01.
^'What is a Starting Price or SP bet?'. Betting-explained.com. Retrieved 2010-09-18.

Bibliography[edit]

Waterman, Jack (1999). The Punter's Friend. Harpenden, Herts, UK: Queen Anne Press. ISBN1852916001.

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abbr ofstarting price

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