What Does SP Mean in Betting?

Updated 24 Sep 2025 • WagerWise Learning Zone

In betting — especially horse racing and greyhound racing — the abbreviation SP stands for Starting Price. This refers to the official odds of a selection at the moment the race begins. If you place a bet at SP, your wager will be settled at whatever the official starting price is declared, not the odds that were available earlier.

SP betting is a traditional system used by bookmakers to standardise odds and provide transparency for punters. Because it reflects the final market movements right before the start, the Starting Price is generally considered the most accurate representation of a horse’s true odds.

While less common in mainstream sports like football or basketball, it remains a key feature in racing markets worldwide.

How SP Betting Works

When you place a bet on a horse “at SP”, you’re not locking in the odds at the time you bet. Instead, you’re agreeing to take the official price at race start.

Example:

  • You back a horse for $20 at SP.
  • The horse’s price moves in the market before the race.
  • When the race starts, the official SP is declared at 5.00 (4/1).
  • If your horse wins, your return is $100 ($80 profit + $20 stake).

This can work in your favour (if odds drift higher before the off) or against you (if odds shorten).

SP vs Fixed Odds

Most bookmakers offer two options: take the fixed odds available at the time you bet, or choose the SP. Here’s the key difference:

  • Fixed Odds: Lock in the price when you place the bet. Your payout is guaranteed at those odds, regardless of market movement.
  • SP (Starting Price): You accept whatever odds are set at race start, which could be better or worse than fixed odds.

Why Bet at SP?

  • Simplicity: No need to track odds movements — your bet is tied to the official start price.
  • Fairness: SP is calculated independently across bookmakers, offering transparency.
  • Accuracy: Because it reflects the final betting consensus, SP is often seen as the most accurate measure of a horse’s real chance of winning.
  • Better Odds Potential: Sometimes the SP ends up higher than early market prices.

Common SP Offers

Many bookmakers also provide promotions like Best Odds Guaranteed (BOG). This means if you take an early fixed price and the SP is higher, you’ll be paid out at the better odds. This blends the safety of fixed odds with the potential upside of SP betting.

Key Takeaways

SP = Starting Price. It’s the official odds declared when a race begins, and it remains a cornerstone of horse and greyhound betting. The SP is generally considered the most accurate reflection of true odds, since it captures the weight of betting just before the start. Choosing SP over fixed odds depends on your strategy: if you prefer certainty, fixed odds are safer; if you’re comfortable with variance, SP can sometimes offer more value. Always check if your bookmaker offers Best Odds Guaranteed to get the best of both worlds.