What Does SP Mean in Betting?
In betting terminology, SP stands for Starting Price. It is the official set of odds assigned to a selection at the moment an event begins. The concept is rooted in horse racing and greyhound racing, but it can also describe the final pre-event price in other sports.
What is SP?
The Starting Price (SP) refers to the odds officially declared at the moment a race begins. The term originated in horse and greyhound racing, where it serves as the standard reference for settling bets in regulated markets. In the United Kingdom and Ireland, SPs are determined under the supervision of the Starting Price Regulatory Commission (SPRC).
The commission collects a representative sample of odds from on-course bookmakers before the start of a race. Outliers are removed, and the final SP reflects a fair market consensus. At least half of the bookmakers in the sample must have been offering the same or longer odds for that price to be accepted.
As the number of on-course bookmakers has declined, the calculation has increasingly relied on prices from major online operators. This ensures the benchmark remains accurate and relevant in today’s digital environment. In countries without an independent regulator, some operators publish what is known as Industry SP, which serves a similar purpose but is not officially supervised.
How SP Works?
When placing a bet, a player can choose between a fixed price or the Starting Price. Taking SP means accepting whatever the official odds will be when the race begins.
If the odds drift and become longer, SP can deliver a better return than the price available earlier. If they shorten, the payout will be lower than it would have been with fixed odds. To mitigate this risk, many bookmakers offer Best Odds Guaranteed promotions, paying out at whichever is higher – the fixed price or the SP.
Use of SP in Other Sports
The idea of SP has also found its way into other markets. In sports such as football, tennis or boxing, it may describe the last available odds before an event goes in-play. In these cases, SP does not have the same formal definition as in racing. It simply indicates the final price recorded before the start, used internally by bookmakers or exchanges.