Understanding SP in Betting
SP in betting stands for ‘Starting Price’ and is a common term used in horse racing and greyhound racing. It represents the odds at which a selection is trading at the time the race starts.
How SP is Determined
The starting price is calculated based on the odds offered by bookmakers at the time the race starts. It is an average of these odds and is used as a reference point for settling bets.
Benefits of Betting at SP
- Consistent odds across bookmakers
- Less risk of odds fluctuation
- Fair representation of market sentiment
Case Study: Grand National
In the 2021 Grand National, Rachael Blackmore made history by becoming the first female jockey to win the race. The starting price for her horse, Minella Times, was 11/1, proving the unpredictability of SP in racing.
Statistics on SP Betting
According to a study by the UK Gambling Commission, over 50% of all horse racing bets are placed at SP. This shows the popularity and reliability of this betting mechanism among punters.
