SP Betting, or Starting Price Betting, involves the odds, that are based on how the market has reacted in between the time when the original opening odds were released and the time when the closing odds were released at the beginning of a horse racing event. If you are unfamiliar with betting on horse racing events, you may still be unsure of exactly what an SP bet is and how it can be used in horse racing.
The Influence of SP Betting on Online Bookies
In this article, we will look at how SP betting influences online bookies and how they decide on their horse racing betting offers. You can also take a look at these offers as reviewed by horseracingbetting.co.uk and see the influence of SP betting for yourself.
What does SP mean?
Essentially, Starting Price Betting means the odds that a particular horse goes off at once the race has started. This betting price is determined by a number of different factors, including the pricing information at the track, the horse’s performance, and any relevant information related to the particular geography where the race is taking place.
The SP bet is typically set by a panel of racing officials at the racecourse, they also look at the fixed odds listed by the different bookmakers before making their final determinations.
The SP is important when betting on horse racing, especially for gamblers who have chosen not to take a particular price when the bet is placed. This is because the SP will directly impact the winning pay-outs that a gambler receives when they collect their winnings. SP betting can be used to figure out pay-outs when gamblers are placing forecast and tri-cast bets at a particular event.
SP betting is also very popular in what is called Tote Betting. These are multi-leg Tote bets, like the Scoop 6 or the Placepot, which can shift a gambler’s selection to the SP favourite. However, this will only happen if the horse which the gambler originally chose was declared to be a non-runner after the gambler chose it.
When a punter is betting on a horse race event, they can choose to either bet on the SP or bet on the fixed odds that are in place at the time of the bet. Some gamblers choose to take an SP when they believe that the selection will be backed and that the odds are most likely to decrease in their price. Gamblers are also more likely to take the SP if they think that the price listed at the time the bet is placed is likely to increase.
SP betting and online casinos
SP betting is an important aspect of online gambling because it is an integral element of betting on horse racing. Any gambler who was only given the option to bet on fixed odds would feel unfairly hamstrung, particularly as SP betting opens up a world of possible bets for gamblers to make.
It is important to note that there is a difference between SP betting and BSP (Betfair SP) betting. The BSP is the horse’s starting price, as listed on the Betfair Exchange; this number is likely to be a little different as it is calculated from the bets that are backed and laying the horse simultaneously.
The future of the horse racing industry
The horse racing industry has been facing a significant amount of criticism from those who are concerned about animal welfare in the sport. There are frequently stories hitting the headlines about horses being killed, horses dying on the track, trainers abusing or abandoning horses, and veterinarians pumping horses full of sport-enhancing drugs like hormones and steroids.
In fact, the horse racing industry is so perilous to the health and wellbeing of the animals involved that it is not dissimilar from other blood sports, like hare coursing and dog fighting. The racehorses who survive the industry do not necessarily enjoy a peaceful retirement. Instead, the horses which are not bred are euthanised, abandoned, or sold to be butchered for meat.
It is possible that as awareness grows of the industry’s cruelty, more and more people will turn to the new digital models available in the racing industry. There are now digital horse racing events, along with digital sports and dog racing events, which are calculated to be fully fair and randomised. Most importantly, they are also cruelty-free!
