What does SP mean in horse racing is a common question among people who like to bet. This is especially true with those new to betting.
SP in horse racing means ‘Starting Price’. These are the odds calculated based on those being offered by the bookies at the course. Therefore, when the race actually starts, the odds offered are known as the SP – Starting Price.
Understanding more about SP in horse racing could help you increase your winnings when it comes to placing a bet. For example, if you were to visit Beverley Races and place a bet with the bookmaker on the course they may present you two choices.
These may be the odds they have shown or offer you the SP. This is a calculated risk, the bookie may have offered you 10/1.
However, when the race begins the starting price could be 11/1 as a result a better return on your bet. Of course, when the race gets underway the SP could, in fact, be worse at 9/1 meaning you lose out.
To try and help punters in making their decision when placing a bet most bookmakers will offer best odds guaranteed. This means that they will payout on whatever the best odds were between the SP and the fixed odds you were offered.
When Not To Take The SP When Betting On Horse Racing
In some cases choosing to take the SP when placing your bet is not advised by experts in the field. One such example of this is when placing an accumulator style bet.
Accumulators tend can be very a lucrative way of winning large amounts when horse race betting. It is a bet that involves placing your state on four or more horses into a single bet.
In one instance a punter won an incredible £823,000 in the UK from a bet that involved a state of just £19. Accumulators are not restricted to horse race betting.
Steve Whiteley a heating engineer is a fine example of how this type of bet can be life-changing. He picked out six winners to scoop a staggering £1.45M prize from his £2 state.
While other examples include a punter who walked away with £111k after staking just 2p on his accumulator.
Many punters choose this type of bet on other sports with football being one of the most popular.
However, it is widely accepted that when choosing this type of bet, the way to maximise your return is to take the best price possible and not risk betting on the SP.
A Little Bit Of Knowledge Goes A Long Way When Betting
Essentially the SP is a bet within a bet. Not only are you betting on your horse you are also betting that the odds could change in your favour.
This additional risk certainly presents more opportunities to increase the return of your bet. As with all forms of gambling, a little bit of knowledge and research can help punters make an educated choice when placing their bet.
Given how the SP is calculated, in most cases finding a horse that is not being backed a majority of people is a good starting point. Of course, the horse has to win too for you to claim your prize.
Looking for those hidden gems on the racecard, the outsiders is certainly key to ensuring you get the most out of your bet if you intend on going down the SP route.
When looking for those gems the key is study more than the price being offered by the bookies. Just study the price is not advisable. Bookmakers know that some punters like to bet on certain odds. In fact, they will price horses at those odds to tempt people in.
You can beat them by studying the form of horses, look at their recent performances while also looking into how they have performed at that course. Ask yourself, how has the jockey and horse performed in the past when paired together.
Have Fun When Placing Bets
However, you decide to bet the most important thing is to have fun. While seeing your horse cross the finish the line in the first place and collecting your winnings is the ultimate goal there are other pleasures along the way.
Furthermore, with a little bit of knowledge, those highs can become more frequent. Take time to learn about the different ways you can place your stakes, invest time in studying the form of not only the horse but the breeders, trainers and jockeys.
It is by empowering yourself with this extra know-how that will help you beat the bookie and pick more winners. But most importantly by prepping yourself as much as possible ahead of placing your bets, you will be able to spot the right opportunity.
Those SP gems are out there, yes they are a greater risk, but with those risks come greater rewards.
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