SP is an abbreviation for ‘Starting Price’ and until now has been more widely associated with traditional bookmaking. The method by which SPs are set for each runner varies in different countries. Traditionally in the UK the Starting Price for any horse in any race has been determined by the on-course bookies who determine an aggregate price or odds. Not surprisingly, their Starting Price is edged towards them making a profit.
There has recently been a lot of debate across the industry as to whether this is a fair way of calculating the SP. Many people argue that the SP should account for bets placed on the selection off-course (in betting shops and online) as well.
Betfair’s Starting Price is different. It’s based on bets placed by both backers and layers in any market – there is no margin for profit built in - and that’s why we think it will give you much better odds.
For more information, including online demonstrations, please see our dedicated Frequently Asked Questions