In betting, SP stands for Starting Price. It is the official odds assigned to a participant (such as a horse or greyhound) at the precise moment a race begins.
Key Details about the Starting Price
• Determination: The SP is a consensus price that reflects the final market opinion and all betting activity right before the event starts. In the UK, it is calculated under the supervision of the Starting Price Regulatory Commission (SPRC) using odds from a sample of leading bookmakers.
• Betting Options: When placing a bet, you generally have two options:
• Take the Fixed Odds: You accept the specific odds offered by the bookmaker at the moment you place your bet.
• Take the SP: You agree to have your bet settled at whatever the final odds are when the event starts. This means you don't know your exact potential return when you place the bet.
• Fluctuation: Odds can change (shorten or lengthen) significantly in the run-up to a race due to late money, market trends, and new information (e.g., weather, track conditions, non-runners).
• Best Odds Guaranteed (BOG): Many modern bookmakers offer a "Best Odds Guaranteed" promotion. If you take a fixed price but the SP is higher, you get the better (higher) odds. This is why many experienced bettors prefer taking the fixed price with BOG rather than relying on SP alone.
• Other Uses: The SP is also used for settling other types of bets like Forecasts and Tricasts, and for substituting non-runners in multi-leg pool bets (like the Tote Placepot).
In the context of online betting in the United Kingdom, "SP" stands for Starting Price. This term is particularly relevant in horse racing and greyhound racing betting. The Starting Price refers to the odds on a horse or greyhound at the time the race starts. These odds are determined by the betting market from the racecourse in the case of horse racing, and they represent the consensus odds being offered by bookmakers at the start of the race. Bettors who choose to bet at SP will have their bets settled at these final odds, regardless of what the odds were when they placed their bets.
Several UK-licensed operators regulated by the UK Gambling Commission offer betting at SP, among other betting options. Here are a few notable ones:
1. bet365: bet365 is one of the leading online gambling companies in the UK, offering a wide range of betting options including sports betting, casino games, and more. Licensed and regulated by the UK Gambling Commission, bet365 is known for its comprehensive coverage of horse racing and greyhound racing, offering competitive odds, including SP betting. bet365's platform is renowned for its live streaming services, allowing bettors to watch races live, enhancing the betting experience.
2. William Hill: Another heavyweight in the UK gambling industry, William Hill is a historic brand with a strong presence in both the online and retail betting markets. Licensed by the UK Gambling Commission, William Hill offers extensive betting options on horse racing and greyhound racing, including SP bets. William Hill is known for its depth of markets, competitive odds, and promotional offers for new and existing customers.
3. Ladbrokes: Ladbrokes is a prominent brand in the UK betting market, offering a wide range of gambling products, including sports betting, casino games, and more. Like its counterparts, it is regulated by the UK Gambling Commission and offers betting at SP among its services. Ladbrokes is recognized for its user-friendly platform, innovative betting features, and strong market coverage, especially in horse and greyhound racing.
4. Coral: Coral, part of the Entain group, is another well-established name in the UK gambling scene, offering a broad spectrum of betting and gaming services. Coral is licensed by the UK Gambling Commission and provides a robust platform for racing betting, including the option to bet at SP. The brand is known for its live streaming services, competitive odds, and a variety of betting markets.
These operators are just a few examples of UK-licensed companies offering SP betting, each with its own strengths, such as market coverage, live streaming, and user experience. When choosing an operator for SP betting, it's important to consider these factors along with the operator's reputation, customer service, and the value of odds and promotional offers. Always remember to gamble responsibly and within your means.