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Starting Price Mean in Betting: Starting Price or ‘SP’ means the final price of the last traded price on any event before it begins, and they are governed by what is happening on the betting exchange. Starting price is a term that is commonly used in horse racing and also in football betting, and is slowly expanding to a number of other sports.
Understanding Starting Price in Betting
- Starting Price refers to the odds that are declared once a race begins and is dependent largely on the collective prices that are offered by the bookmakers
- The odds are decided on the basis of the opinions of the various bookmakers that end up reflecting the consensus of the market on the chances of each competitor.
- Generally, horse racing is one sport where the term ‘Starting Price’ is widely used.
Starting Price in Betting, Image Credits: Britanicca.com
Determining the Starting Price
- The Starting Price is determined in the present time with the help of data collected by the algorithms from the various betting platforms.
- There are major online operators, and their data helps establish an accurate and much more transparent SP.
- However, traditionally, the starting price was set and calculated by taking into account the average of all the odds that were made just before the race began by the on-course bookmakers.
Other Sports where the starting price is used
Sports like football, tennis, and boxing are some of the other markets where SP, or starting price, is used.
Regardless, horse racing still remains the sport that is popularly associated with SP.
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