In the realm of horse racing betting, various abbreviations and terminologies are used to define specific concepts. One such term is 'SP', which stands for 'Starting Price'. This term is commonly used in betting on horse races to denote the odds of a horse at the start of the race.
What Does SP Mean In Horse Racing?
'SP' or 'Starting Price' is a term frequently used by bookmakers and punters in the horse racing betting world. SP signifies the odds available on a horse when the race commences. It is of utmost importance as it reflects the likelihood of each horse winning the race just before they set off.
The SP was originally devised to offer bettors an option beyond the fixed odds on a race. It permits the punter to gamble on the possibility that the starting price would be more favourable than the fixed odds.
However, in the present era, the SP is used less frequently by bettors as promotions like "best odds guaranteed" have reduced the necessity for it.
What Happens If You Bet on SP?
If you bet on SP, you are essentially placing a wager on the odds of your chosen horse at the start of the race. This can be a risky proposition, as the odds may shorten from what they were initially when the bet was placed.
However, it can sometimes prove advantageous, especially when the odds on the horse drift just before the race begins. If the horse wins, you will be compensated at the higher odds.
How Is SP Calculated?
The calculation of the SP is a systematic process governed by the Starting Price Regulatory Commission (SPRC). The SPRC calculates the SP for each horse using a list of online bookmakers when there are no bookmakers present at a race meeting.
At the racecourse, a panel of officials determines the SP. It is based on the odds offered by the on-site bookmakers. All bookmaker odds are arranged from lowest to highest and divided into two equal halves. The SP is taken from the shortest price in the half with the longest odds. This method ensures that the SP is offered by at least half of the bookmakers on the course.
Is It Good To Bet On SP?
Whether or not to bet on SP can be subjective and depends on the individual punter's strategy and confidence in the horse.
However, most punters today prefer 'Best Odds Guaranteed' (BOG) offered by many bookmakers over SP. With BOG, if the starting price turns out to be higher than the fixed odds, the payout is calculated using the SP, providing a potential win-win situation for the bettor.
Still, in certain situations, like when the BOG promotion is not available, betting on the SP can be a viable option. It's all about reading the market dynamics and making an informed decision based on the potential for odds fluctuation.
Whether or not SP is a good bet really comes down to personal preference.
In conclusion, understanding the 'Starting Price' or 'SP' in horse racing betting is crucial for any punter. It can sometimes provide a better return on a winning bet, especially when the odds drift before the start of a race.
However, the emergence of 'Best Odds Guaranteed' has made SP less popular among most bettors. Irrespective, the choice between SP and fixed odds should be based on careful consideration of market dynamics and individual betting strategy.
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