What Does SP Mean in Horse Racing?

If you’re new to horse racing or just starting to place bets and use free bets, the sea of abbreviations and jargon can be overwhelming. One of the most common terms you may encounter is SP, and understanding it is essential for anyone seeking to learn more about the sport, particularly horse racing betting.

So, if you are interested in learning what SP means, how it can affect betting and how it is determined, you have come to the right place!

SP in horse racing means ‘Starting Price’. It’s the official odds of a horse at the exact moment the race begins. These odds are used to calculate your winnings if you didn't take fixed odds when placing your bet.

As odds can change due to various reasons, such as injuries or weather changes, the Starting Price represents the odds the horse receives at the start of the race. If you watch horse racing live through betting apps, you will be able to see the odds change in real time depending on how the horses are performing.

Whilst it is simple to understand how the live odds work in horse racing, there are various factors that bookmakers take into account when working out the starting price for horses.

The Starting Price isn’t just plucked out of thin air. It’s calculated based on the odds offered by on-course bookmakers just before the race begins. Here is how the starting price is determined throughout horse racing:

This system ensures the SP reflects a balanced consensus of the odds available right at the start of the race.

If you are looking to place horse racing bets, there is the possibility to place a bet at the SP, instead of specific fixed odds. Understanding SP is essential if you:

When you place a bet at SP, this means you are effectively letting the odds change until the race starts. For example, if you place a bet 30 minutes before the race begins, there are plenty of things that could happen for the odds to change in those 30 minutes. If you use SP, the odds will change. However, if you use fixed odds, they will be the odds that you use for the bet, no matter what.

Here is a comparison between SP and fixed odds to see which one better suits your selection. Most horse racing bookmakers use fixed odds; however, there is sometimes an option to use the Starting Price.

For example, if you place a fixed bet of 3/1, but the starting price ends up being 5/1, your bet will not change, and you will miss out on some value. However, if the odds drop, you will be glad to have locked in the odds of 3/1.

Whether you are a bettor who only looks at the horse racing results or you analyse every race, understanding SP can be essential when placing bets throughout the sport. 

Racing TV is the place to be if you are looking to keep up to date with horse racing, with the site being full of horse racing tips, guides and race reviews.