The starting price, or SP, is a key concept in horse and greyhound racing betting, representing the official odds at the moment a race begins. This guide explains what the starting price means, how it is determined, and how it compares with taking a price in advance. It is general information and not betting advice, so always gamble responsibly and only stake money you can comfortably afford to lose.
What the starting price means
The starting price, or SP, is the official odds of a selection at the moment a race starts. If you bet at SP, your odds are not fixed when you place the bet but are settled at whatever the official starting price turns out to be. Understanding that SP is the price at the off, rather than the price when you bet, is the key distinction, as it means your eventual odds depend on how the market moves right up to the start.
How the SP is determined
Traditionally, the starting price was set by the betting market formed at the racecourse just before the off, reflecting the odds available there. Today, an industry starting price is calculated from a range of bookmakers' prices at the off. Understanding that the SP reflects the market's final assessment, drawn from available prices at the start, helps you see it as an officially agreed figure rather than any single bookmaker's price, used to settle SP bets fairly.
Taking a price versus SP
When you bet, you usually choose between taking the current price, which fixes your odds then and there, or betting at SP, which settles at the starting price. Each has pros and cons depending on how the odds move. Understanding the choice between a fixed price now and the SP later is important, as it determines whether your odds are locked in when you bet or depend on the market at the off, which can be higher or lower.
Advantages of taking a price
Taking a price fixes your odds when you bet, protecting you if the price shortens before the off. If you back a selection at 5/1 and it shortens to 3/1, you keep your 5/1. The downside is that if it drifts, you miss out on the bigger price. Understanding that taking a price locks in your odds, good if the price shortens but not if it drifts, helps you decide whether to secure a price you are happy with.
Advantages of SP
Betting at SP means you get whatever the starting price is, which benefits you if the price drifts. If you back a selection that drifts from 3/1 to 5/1, your SP bet settles at 5/1. The downside is that if it shortens, you get the shorter price. Understanding that SP gives you the final price, good if it drifts but not if it shortens, helps you weigh it against taking a price, depending on how you expect the market to move.
SP in shops and online
The starting price is used both in betting shops and online, where you can usually choose SP or a fixed price when placing a racing bet. SP has long been the traditional default in high-street betting. Understanding that SP is widely available across betting shops and online accounts helps you know it is always an option for racing, and that choosing between SP and a price is a standard decision when betting on a horse or greyhound race.
Best odds guaranteed
Many bookmakers offer "best odds guaranteed" (BOG) on racing, meaning if you take a price and the SP turns out bigger, you are paid at the bigger SP. This gives you the better of the two. Understanding that BOG offers can give you the best of taking a price and SP, paying the larger of the two, helps you see why it is a popular feature, though it comes with terms and should never tempt you to bet beyond your budget.
SP and each-way bets
You can place each-way bets at SP, with both the win and place parts settled at the starting price and the relevant place terms. Our guide on each-way betting explained covers each-way. Understanding that SP applies to each-way bets too, settling both parts at the starting price, helps you combine the two concepts, which is common in racing, where each-way betting at SP is a popular way to back a runner.
How SP appears in results
After a race, results show each runner's starting price, which is how SP bets are settled and a standard part of racing records. Our guide on how to bet on horse racing covers reading racing information. Understanding that the SP is recorded in the results, and used to settle bets placed at starting price, helps you check how your bet was settled and understand the official odds at which the race was run.
Non-runners and SP
If a selection is withdrawn before a race, it becomes a non-runner, and bets on it are usually refunded, while the SP of the remaining runners may be adjusted. Understanding how non-runners are handled, with refunds and possible price adjustments, helps you know what happens if your selection does not run. This is a normal part of racing, and the rules around non-runners and how they affect other prices are worth being aware of when betting on races.
Why SP matters
The starting price matters because it is the benchmark against which racing bets are often settled and compared. It is the official figure recorded in results, used for SP bets and for best odds guaranteed offers. Our guide on how to bet on horse racing covers racing betting more widely. Understanding why the SP matters, as the agreed final price that settles bets and provides a reference point, helps you see it as more than just a number: it is a key part of how racing betting works, which is why deciding between taking a price and betting at SP is such a common consideration for racing punters.
Betting responsibly
Whether you take a price or bet at SP, the bookmaker keeps its margin, so treat racing betting as entertainment, not income. Set a budget, stake only what you can afford, and never chase losses. Our guide on how to gamble responsibly has practical tools. Understanding SP helps you bet on racing knowledgeably, but keeping your stakes within your means matters far more than any price decision.
In short
The starting price (SP) is the official odds of a selection at the moment a race begins, calculated from bookmakers' prices at the off. Betting at SP means your odds settle at the starting price, while taking a price fixes your odds when you bet. Taking a price helps if the odds shorten; SP helps if they drift. Best odds guaranteed gives you the better of the two. SP applies to each-way bets and appears in results, and non-runners are usually refunded with prices adjusted. Whether you take a price or bet at SP, the bookmaker keeps its margin, and best odds guaranteed offers can give you the better of the two on racing. Keeping your stakes within your means matters more than any price decision, so always gamble responsibly.
Explore more in our Betting Odds Explained guides.