What Is SP (Starting Price) in Horse Racing?

SP stands for Starting Price, and it represents the official odds determined at the exact moment a horse race begins. When you place an SP bet, you're agreeing to accept whatever odds the horse is trading at when the race starts, rather than locking in a fixed price at the time you place your bet. This fundamental betting mechanism has been central to horse racing for over a century and remains one of the most important concepts for anyone betting on UK and Irish racing.

The Starting Price is not arbitrary—it's determined by a regulated panel of on-course bookmakers and reflects the true market consensus of what the odds should be at that precise moment. Understanding SP betting is essential because it offers both significant opportunities and distinct risks compared to fixed odds betting.

The Official Definition

The Starting Price is the official closing odds on a horse or greyhound at the moment a race begins, as determined by the Starting Price Regulatory Commission (SPRC) and a panel of accredited on-course bookmakers. It's the price at which your bet is settled if you haven't taken a fixed price at the time of placing your wager.

Unlike fixed odds, where the bookmaker quotes you a price and guarantees that price regardless of market movement, the Starting Price is a live market price. It's determined by the collective pricing of bookmakers on the racecourse, taking into account all the money flowing into the market in the final moments before the race starts.

Why Starting Price Matters to Bettors

Starting Price betting is significant because it bridges the gap between certainty and opportunity. When you place a fixed odds bet, you know exactly what you'll win if your selection is successful. With SP betting, you accept the uncertainty of not knowing your exact odds until the race begins, but in exchange, you have the potential to benefit from favorable market movement.

How Does Starting Price (SP) Betting Work?

The mechanics of SP betting are straightforward in concept but sophisticated in execution. When you place an SP bet, you're entering into an agreement with your bookmaker that your wager will be settled at the official Starting Price, whatever that price turns out to be.

The Mechanics of SP Betting

Here's how the process works in practice:

1. You select your horse and approach a bookmaker (either on-course or online) and request an SP bet.
2. You state your stake (the amount you wish to bet).
3. The bookmaker accepts your SP bet without quoting odds—they simply note that you're betting at SP.
4. Your bet is recorded and held until the race begins.
5. The race starts, and the Starting Price is officially determined.
6. Your bet is automatically settled at that official Starting Price.
7. Your winnings are calculated based on the SP and your stake.

The key difference from fixed odds is that steps 2 and 3 don't involve any price negotiation. You're not asking "What odds will you give me?" You're asking "Will you take my bet at Starting Price?" The bookmaker either accepts or declines, but they don't quote a price.

Who Determines the Starting Price?

The Starting Price is not set by a single bookmaker or betting exchange. Instead, it's determined through a regulated process involving multiple parties:

On-Course Bookmakers: These are the bookmakers physically present at the racecourse. They continuously update their odds based on the money they're receiving and the perceived likelihood of each horse winning. Their collective pricing forms the basis of the Starting Price.

The Starting Price Regulatory Commission (SPRC): Established to ensure fairness and integrity in SP determination, the SPRC oversees the process and ensures that the official Starting Price accurately reflects the market consensus. They accredit specific bookmakers whose prices are used in the calculation.

Official Racecourse Officials: They monitor the betting market and coordinate the final SP determination at the moment the race starts.

Betting Exchanges: On platforms like Betfair, the Starting Price is calculated from the exchange's matching odds at the moment the race begins, representing the consensus price of all users on the platform.

How Is the Starting Price Calculated?

The Starting Price calculation is more nuanced than simply taking an average of all bookmaker prices. The process involves:

Market Consensus: The SPRC takes prices from a panel of accredited on-course bookmakers—typically the largest and most active bookmakers at the racecourse. These aren't all bookmakers present; they're a carefully selected sample of the most significant operators.

Odds Averaging: The prices from these accredited bookmakers are analyzed to determine a consensus price. This isn't a simple mathematical average; it's a weighted consensus that accounts for the volume of money being wagered at each price.

Money Flow Consideration: The calculation considers which prices have attracted the most money. A price that has significant backing from bettors carries more weight in determining the final SP than a price quoted by a bookmaker but not backed by much money.

Final Determination: At the exact moment the race begins (the "off"), the SPRC officials declare the official Starting Price based on this analysis. This price is then communicated to all bookmakers and betting platforms for settlement purposes.

The result is that the Starting Price represents a genuinely neutral market price—it's not set by any single bookmaker trying to protect their margin, but rather by the collective wisdom of the market reflected in the prices and money of the on-course betting community.

What Are the Advantages of Starting Price Betting?

SP betting offers several compelling advantages that make it attractive to many bettors, particularly those who understand market dynamics and are willing to accept some uncertainty for potential reward.

Potential for Better Odds

The most significant advantage of SP betting is the possibility of obtaining better odds than you could have secured earlier.

Consider this scenario: You want to back a horse that's currently trading at 4/1 with online bookmakers. You could take that 4/1 immediately and lock in that price. Alternatively, you could place an SP bet. If the horse attracts less money as the race approaches and the market drifts to 5/1 or 6/1, your SP bet will be settled at those superior odds, giving you a significantly larger potential payout.

This advantage is particularly valuable in volatile markets where odds fluctuate significantly in the lead-up to a race. Horses with uncertain form, races with unclear favorites, or situations where the betting public hasn't fully processed information all create opportunities for odds to move in your favor.

Many experienced bettors use SP betting precisely for this reason—they're willing to accept the risk of worse odds in exchange for the opportunity to capture better odds when the market moves their way.

Fairness and Transparency

SP betting operates under a strict regulatory framework designed to ensure complete fairness and transparency. Unlike fixed odds, where a bookmaker can set any price they wish (and adjust it based on their risk management), the Starting Price is determined by an independent, regulated process.

This means:

• No bookmaker discretion: A bookmaker cannot manipulate the price you receive; it's determined by the SPRC and the market.
• Level playing field: All bettors placing SP bets on the same horse receive the same price, regardless of their betting history or account status.
• Regulatory oversight: The SPRC continuously monitors the process to prevent manipulation or unfair practices.
• Integrity assurance: The system is designed to reflect the true market consensus, not any individual bookmaker's view or risk position.

For bettors who value integrity and fairness, SP betting provides peace of mind that the odds they receive are genuinely market-determined rather than bookmaker-determined.

Flexibility in Betting Strategy

SP betting provides strategic flexibility that fixed odds cannot match. You're not forced to commit to a price immediately; instead, you can:

• Wait for market movement: Place your SP bet early and allow the market to move in your favor before the race starts.
• Avoid early prices: If you believe early odds are unfairly short, you can bet at SP and benefit if the market drifts.
• Hedge against bookmaker margins: By using SP instead of fixed odds, you avoid paying the bookmaker's built-in margin on the price.
• Adapt to late information: If new information emerges close to race time (a jockey change, weather update, etc.), the market will reflect this in the SP, and your bet will be settled at the adjusted price.

This flexibility makes SP betting particularly attractive for sophisticated bettors who understand market dynamics and are comfortable with uncertainty.

What Are the Disadvantages of Starting Price Betting?

While SP betting offers advantages, it also carries distinct disadvantages that make it unsuitable for some bettors and betting scenarios.

Risk of Worse Odds

The flip side of the potential for better odds is the risk of worse odds. Using the earlier example: if you place an SP bet on a horse currently at 4/1, but that horse attracts significant money and shortens to 2/1 or even 6/4 by race time, you'll be settled at those shorter odds, resulting in a smaller payout than you could have secured.

In volatile markets, this risk can be substantial. A horse can drift significantly if:

• New information emerges: An injury to a key rival, a jockey change, or weather updates can cause odds to move.
• Money flows differently than expected: If the betting public backs a rival more heavily than anticipated, your selection may shorten.
• Market sentiment shifts: Changing perception of form or conditions can move prices dramatically.

For risk-averse bettors or those with limited bankrolls, the possibility of worse odds can be stressful and financially damaging.

Uncertainty Until Race Time

One of the psychological challenges of SP betting is the uncertainty. You won't know your exact odds until the race begins, which can create mental stress and make planning difficult.

This uncertainty manifests in several ways:

• Unknown payouts: You can't calculate your potential winnings until the race starts.
• Mental stress: Watching the market move in the lead-up to the race, wondering if the odds will improve or worsen, can be emotionally taxing.
• Planning difficulty: If you're managing a betting bank or trying to maintain consistent stake sizes, not knowing your odds until race time complicates your calculations.
• Regret potential: If the odds shorten significantly, you may experience regret at not taking the earlier fixed odds.

For bettors who prefer certainty and peace of mind, this uncertainty is a significant drawback.

Limited Availability

Not all bets are available at Starting Price, and not all bookmakers offer SP betting on all markets. Limitations include:

• Selected races only: Some online bookmakers restrict SP to major races or specific meetings.
• Bet type restrictions: SP may not be available on exotic bets like accumulators or system bets; it's typically limited to win and each-way bets.
• Platform differences: Some online platforms have restricted SP availability compared to traditional bookmakers.
• Market restrictions: Certain betting markets (like handicaps or specific bet types) may not have SP available.

This limited availability means you can't always use SP betting as a strategy, even if you want to.

How to Place a Starting Price Bet: Step-by-Step Guide

Placing an SP bet is straightforward, but the process varies slightly depending on whether you're betting with a traditional bookmaker or using an online platform.

Placing an SP Bet with a Traditional Bookmaker

If you're betting at a racecourse or with a traditional bookmaker:

1. Identify your selection: Choose the horse you want to back.
2. Approach the bookmaker: Go to their betting stand or counter.
3. State your selection and stake: Say something like "£50 Starting Price on number 4."
4. Confirm the bet: The bookmaker writes down your bet and confirms they've accepted it at Starting Price.
5. Receive your betting slip: You'll get a slip showing your selection, stake, and that it's an SP bet.
6. Wait for the race: Your bet is now held until the race begins.
7. Race starts: The Starting Price is declared.
8. Automatic settlement: If your horse wins, your winnings are calculated at the SP and paid to you.

The entire process takes just a few moments, and no price is quoted at any point—that's the defining characteristic of an SP bet.

SP Betting on Online Platforms

Online betting platforms handle SP betting differently:

Traditional Bookmakers (Online): Most online bookmakers offer SP betting on selected races. The process is:

1. Navigate to the race you want to bet on.
2. Select your horse.
3. Choose "Starting Price" from the odds options (usually displayed alongside fixed odds).
4. Enter your stake.
5. Confirm your bet.
6. Your bet is held at SP until the race begins and is settled automatically.

Betting Exchanges (Betfair, etc.): On betting exchanges, you can bet at the "Starting Price" which is calculated from the exchange's matched odds at the moment the race begins. This works slightly differently:

1. You can back or lay bets at any odds available on the exchange.
2. You can also request bets to be settled at the "Betfair Starting Price" (BSP), which is the exchange's version of the SP.
3. At the moment the race starts, your bet is settled at the BSP, which reflects the matched odds on the exchange at that moment.

Each-Way Bets at SP: You can also place each-way bets at Starting Price. This means:

• Your stake is split: half on the horse to win at SP, half on the horse to place at SP.
• The place odds are typically one-quarter or one-fifth of the win odds (depending on the number of runners and race conditions).
• Both parts of your bet are settled at the SP determined at race time.

Example SP Bet Calculation

Let's work through a concrete example to illustrate how SP betting works:

Scenario: You place a £20 Starting Price bet on a horse in a handicap chase at Cheltenham. The horse is currently trading at 5/1 with fixed odds bookmakers, but you decide to bet at SP.

What happens:

• You place your £20 SP bet at 3:00 PM.
• The race is at 3:30 PM.
• During those 30 minutes, the horse attracts moderate betting and drifts to 6/1.
• At 3:30 PM, when the race starts, the official Starting Price is declared as 6/1.
• Your £20 bet at 6/1 wins (the horse wins the race).

Your payout:

• Stake: £20
• Odds: 6/1
• Winnings: £20 × 6 = £120
• Total return: £120 + £20 (stake) = £140
• Net profit: £120

Comparison to fixed odds:

• If you'd taken the 5/1 fixed odds: £20 × 5 = £100 winnings, £120 total return, £100 net profit.
• By betting at SP and getting 6/1, you gained an extra £20 in profit compared to the fixed odds.

This illustrates the potential advantage of SP betting—you captured the odds drift and received better odds than were available earlier.

How Does Starting Price Differ from Fixed Odds and BOG?

To fully understand SP betting, it's essential to understand how it compares to the two other main ways of betting on horse racing: fixed odds and Best Odds Guaranteed (BOG).

Starting Price vs. Fixed Odds

Fixed odds is the traditional and most common form of betting. When you place a fixed odds bet, the bookmaker quotes you a specific price, you accept it, and that price is locked in regardless of any subsequent market movement.

Key differences:

• Price certainty: With fixed odds, you know exactly what you'll win before you place your bet. With SP, you don't know until the race starts.
• Timing: Fixed odds can be taken at any time before the race starts. SP is determined only at the moment the race begins.
• Odds movement: With fixed odds, you're protected from worse odds but can't benefit from better odds. With SP, you can benefit from better odds but are exposed to worse odds.
• Bookmaker role: With fixed odds, the bookmaker sets the price based on their risk assessment and margin. With SP, the price is market-determined.
• Typical use: Fixed odds is used for quick, certain bets. SP is used when bettors believe the market will move in their favor.

Example comparison:

• You want to back a horse at 4/1 fixed odds.
• You could take 4/1 fixed odds immediately and lock in that price.
• Or you could place an SP bet, hoping the odds drift to 5/1 or better.
• If they drift to 5/1, you win more. If they shorten to 3/1, you win less.

Starting Price vs. Best Odds Guaranteed (BOG)

Best Odds Guaranteed is a relatively modern innovation that attempts to combine the benefits of both fixed odds and SP betting.

With BOG:

1. You take a fixed odds price from the bookmaker.
2. At the moment the race starts, the bookmaker compares your fixed odds to the Starting Price.
3. If the Starting Price is better than your fixed odds, you're paid at the Starting Price.
4. If the Starting Price is worse, you're paid at your fixed odds (the bookmaker guarantees the better of the two).

Key differences:

• Price certainty: With BOG, you have certainty—you know your minimum odds (the fixed odds you took). With SP, you have complete uncertainty.
• Upside potential: Both SP and BOG offer the potential for better odds. Fixed odds does not.
• Downside protection: BOG protects you from worse odds. SP does not. Fixed odds protects you from worse odds but not through a guarantee—through locking in the price.
• Availability: BOG is offered by major bookmakers but not all. SP is available on most races. Fixed odds is universally available.
• Cost to bookmaker: BOG is more expensive for bookmakers to offer, so they typically offer it on major races only. SP is a regulated process with no additional cost to bookmakers.

Example comparison:

• Horse is currently 4/1.
• You take 4/1 fixed odds with a BOG bookmaker.
• At race time, the SP is 5/1.
• You're paid at 5/1 (the better price).
• If the SP had been 3/1, you'd still be paid at 4/1 (your fixed odds, which is better).

Comprehensive Comparison Table

The History and Evolution of Starting Price Betting

To truly understand SP betting, it's helpful to know where it came from and how it has evolved over more than a century.

Origins of Starting Price in British Racing

Starting Price betting has its roots in the earliest days of organized horse racing in Britain. Before the advent of modern telecommunications and electronic betting, horse racing betting was conducted primarily at the racecourse itself.

In the 19th and early 20th centuries, bookmakers would physically stand at the racecourse and quote odds to bettors. These odds would constantly change based on the money flowing in and out. In the minutes leading up to a race, as more bettors placed wagers and the market became clearer, bookmakers would adjust their odds to balance their books.

The problem was: at what point did a bet get settled? If you placed a bet at 5/1 early in the day, but the odds drifted to 6/1 by race time, should you get 5/1 or 6/1? The solution was the concept of the "Starting Price"—the official price at the moment the race began. This became the standard for settling bets where no fixed price had been agreed.

The Starting Price system provided fairness because it was determined by the collective market at a specific moment, not by any individual bookmaker's decision.

The Starting Price Regulatory Commission (SPRC)

As horse racing modernized and betting became more sophisticated, the need for formal regulation of the Starting Price process became apparent. This led to the establishment of the Starting Price Regulatory Commission.

The SPRC was created to:

• Standardize the process: Ensure that Starting Prices were determined consistently and fairly across all racecourses.
• Prevent manipulation: Guard against bookmakers or syndicates attempting to manipulate the SP for their benefit.
• Protect bettors: Ensure that punters received fair, market-determined prices.
• Accredit bookmakers: Establish which bookmakers' prices would be used in the SP calculation.
• Maintain integrity: Oversee the entire process and investigate any irregularities.

The SPRC remains active today and continues to regulate SP betting, though its role has evolved with the advent of online betting and betting exchanges.

Modern Changes and Digital Impact

The rise of online betting and betting exchanges has significantly transformed the Starting Price landscape.

Online Bookmakers: Traditional online bookmakers now offer SP betting on their platforms, allowing bettors to place SP bets from home rather than at the racecourse. The process is largely the same, but automated—the bet is held in the system and settled automatically at the official SP.

Betting Exchanges: Platforms like Betfair introduced the concept of the "Betfair Starting Price" (BSP), which is calculated from the matched odds on the exchange at the moment the race begins. This democratized SP betting—rather than relying on a panel of on-course bookmakers, the SP is determined by the collective trading of all exchange users.

Technology: Modern technology has made the SP determination process more transparent and faster. Official SPs can be published immediately, and bettors can see the exact price their bets were settled at within seconds.

Regulation: While the SPRC still oversees traditional SP betting, betting exchanges operate under different regulatory frameworks (like the Gambling Commission in the UK). However, the principle remains the same—the SP represents a market-determined, fair price.

Global expansion: SP betting, once unique to British and Irish racing, has expanded to other jurisdictions and other sports. Greyhound racing, for example, uses SP betting extensively.

The modern SP betting landscape is more accessible, transparent, and technologically sophisticated than ever before, yet the fundamental principle remains unchanged: the Starting Price represents the official market price at the moment a race begins.

Common Misconceptions About Starting Price

Several myths and misconceptions about Starting Price betting persist, even among experienced bettors. Let's address the most common ones.

Misconception 1: "SP Always Gives Better Odds"

The myth: Some bettors believe that betting at Starting Price always results in better odds than fixed odds.

The reality: SP betting offers the potential for better odds, but it's entirely dependent on market movement. The odds can move either direction:

• Better odds: If the horse attracts less money and drifts, you'll get better odds at SP than were available earlier.
• Worse odds: If the horse attracts more money and shortens, you'll get worse odds at SP.
• Same odds: Sometimes the SP matches the fixed odds you could have taken.

Over a large sample of bets, SP betting doesn't inherently produce better or worse odds than fixed odds—it depends on your ability to predict market movement. Bettors who are good at identifying when markets will drift can profit from SP betting. Those who are not may find their odds consistently shorten.

Misconception 2: "You Can't Control Your Bet with SP"

The myth: Some believe that once you place an SP bet, you have no control over it and must accept whatever odds result.

The reality: You have significant control over your SP bet:

• You choose when to place it: You can wait until late in the betting if you believe the market will move in your favor.
• You choose your stake: You can adjust your stake size based on your confidence.
• You choose which bookmaker: Different bookmakers may have slightly different SPs (especially between on-course and online bookmakers), so you can choose who to bet with.
• You can cancel: Some bookmakers allow you to cancel your SP bet before the race starts, though this is becoming less common.

You're not passive when placing an SP bet; you're making a strategic decision about timing and market expectations.

Misconception 3: "SP Is Only for Traditional Betting"

The myth: Some believe that SP betting is an old-fashioned concept only available through traditional on-course or high street bookmakers.

The reality: SP betting is thriving in the modern digital betting landscape:

• Online bookmakers: Major online bookmakers offer SP betting on their platforms.
• Betting exchanges: Betfair's Starting Price is one of the most popular forms of SP betting among modern bettors.
• Mobile apps: You can place SP bets through betting apps on your phone.
• International: SP betting is available in multiple jurisdictions and on various sports.

SP betting is not a relic of the past; it's an integral part of modern betting.

Misconception 4: "SP Betting Is Risky and Unreliable"

The myth: Some believe SP betting is inherently risky or that the process is not transparent.

The reality: SP betting is highly regulated and transparent:

• SPRC oversight: The Starting Price Regulatory Commission ensures fairness and prevents manipulation.
• Transparent process: The SP is determined by a clear, published process.
• Fair pricing: The SP reflects genuine market consensus, not bookmaker manipulation.
• Risk is inherent: SP betting is risky in the sense that odds can move against you, but that's a feature, not a flaw. The risk is clearly understood and accepted.

SP betting is not inherently riskier than other forms of betting; it simply has a different risk profile.

When Should You Use Starting Price Betting?

SP betting isn't appropriate for every situation or every bettor. Understanding when to use SP and when to avoid it is crucial for successful betting.

Ideal Scenarios for Starting Price Betting

Volatile odds markets: If you're betting on a race where odds are likely to move significantly—perhaps because the market hasn't fully processed information or there's genuine uncertainty about the outcome—SP betting can capture that movement.

Long-term strategy: If you're building a long-term betting strategy and can tolerate the uncertainty of not knowing individual bet odds, SP betting can be valuable. Over time, if you're good at predicting market movement, the better odds you capture can add up.

Hedging: If you've already taken fixed odds and believe the market will move in your favor, you can place an additional SP bet as a hedge.

Uncertain favorites: When the favorite is unclear or there are multiple viable contenders, the market is more likely to move, creating opportunities for SP betting.

Late information: If you want to benefit from late information (a jockey change, weather update, etc.), SP betting ensures your bet is settled at the price that reflects that information.

Avoiding bookmaker margins: If you want to avoid paying a bookmaker's built-in margin and prefer to bet at a market-determined price, SP is the answer.

When to Avoid Starting Price

Need for certainty: If you need to know your exact potential winnings before placing a bet, fixed odds is more appropriate.

Risk aversion: If you're uncomfortable with the possibility of worse odds, fixed odds or BOG is preferable.

Limited bankroll: If you have a small betting bank and can't afford to have bets settled at worse odds, fixed odds provides protection.

Short odds: If you're betting on short odds (favorites), the potential for worse odds is less attractive. The odds are unlikely to drift significantly, but they can shorten further, reducing your already modest returns.

Exotic bets: If you want to place accumulators, system bets, or other exotic bet types, SP may not be available.

Betting on exchanges: If you prefer the transparency and odds of betting exchanges, you might choose to take fixed odds on the exchange rather than waiting for the BSP.

Frequently Asked Questions About Starting Price

Q: What does SP mean in betting?

A: SP stands for Starting Price, which is the official odds determined at the moment a horse race begins. When you place an SP bet, you agree to accept whatever odds your selection is at when the race starts, rather than locking in a fixed price at the time you place your bet.

Q: How do I place a starting price bet?

A: To place an SP bet:

1. Select your horse and the amount you want to stake.
2. Tell your bookmaker (on-course, online, or via app) that you want to bet at "Starting Price" rather than taking fixed odds.
3. Confirm your bet.
4. Your bet is held until the race begins.
5. At the moment the race starts, the official Starting Price is determined.
6. Your bet is automatically settled at that price.

No fixed odds are quoted at any point in the process.

Q: Can I get better odds with SP?

A: Yes, you can get better odds with SP if the market moves in your favor before the race starts. However, you can also get worse odds if the market moves against you. Whether SP gives you better or worse odds depends entirely on how the market moves between when you place your bet and when the race begins.

Q: Is starting price betting safe?

A: Yes, SP betting is safe and highly regulated. The Starting Price Regulatory Commission (SPRC) oversees the process to ensure fairness and prevent manipulation. Your SP bet is as safe as any other bet with a licensed bookmaker. The risk is not about safety but about the possibility of worse odds—which is a known and accepted part of SP betting.

Q: What is the difference between SP and fixed odds?

A: The main differences are:

• Fixed odds: Price is locked in immediately when you place your bet.
• SP: Price is determined at the moment the race begins.
• Certainty: Fixed odds gives you certainty; SP gives you uncertainty but the potential for better odds.
• Bookmaker role: Fixed odds is set by the bookmaker; SP is market-determined.

Q: Do all bookmakers offer SP?

A: Most major bookmakers offer SP betting on most races, but availability varies:

• Traditional on-course bookmakers universally offer SP.
• Online bookmakers typically offer SP on major races but may restrict it on smaller meetings.
• Some online bookmakers restrict SP to win and each-way bets, not exotic bets.
• Not all betting markets offer SP (e.g., some forecast or tricast bets may not).

Check with your bookmaker to see what SP options are available.

Q: Can I use SP on betting exchanges?

A: Yes, you can use SP on betting exchanges. On Betfair, for example, you can request the "Betfair Starting Price" (BSP), which is calculated from the matched odds on the exchange at the moment the race begins. This works similarly to traditional SP but is determined by exchange users rather than on-course bookmakers.

Q: What is Best Odds Guaranteed (BOG)?

A: Best Odds Guaranteed is a bookmaker offer where:

1. You take a fixed odds price.
2. At race time, the bookmaker compares your fixed odds to the Starting Price.
3. You're paid at whichever is better.

This gives you the upside of SP (potential for better odds) while protecting you from the downside (worse odds). BOG is offered by major bookmakers on selected races.

Related Terms

• Fixed Odds — The traditional form of betting where the odds are locked in at the time you place your bet.
• Best Odds Guaranteed (BOG) — A bookmaker offer that guarantees you receive the better of your fixed odds or the Starting Price.
• Opening Odds — The initial odds offered by bookmakers before betting patterns emerge.
• Each Way Bet — A bet that can be placed at Starting Price, combining a win bet and a place bet.
• Bookmaker — The operator who accepts bets and determines fixed odds.

Last Updated: 2024
Content Type: Glossary Term
Category: Odds and Betting Terms
Target Market: UK and Irish Horse Racing Bettors