Every horse racing punter faces the same decision before a race: lock in the current odds now, or wait and take starting price. The right choice depends on how you expect the market to move.
Understanding Early Prices
Bookmakers publish early prices — also called ante-post or morning prices — hours or even days before a race. These are fixed odds: once you place your bet at 8/1, you keep 8/1 regardless of what happens to the market.
Early prices reflect the bookmaker's initial assessment, but the market often moves significantly between publication and the race itself. Horses can shorten (odds decrease) as money flows in, or drift (odds increase) as the market turns against them.
Understanding Starting Price
The starting price (SP) is determined at the racecourse by on-course bookmakers at the moment the race begins. It represents the final consensus of the betting market and is the default price for anyone who has not taken a fixed price.
SP is particularly useful when you have no strong opinion on whether a horse will shorten or drift.
When to Take the Early Price
Take an early price when you believe the horse will be shorter at the off. Common scenarios include:
- Well-fancied horses tipped in newspapers — public money typically shortens these
- Small-field races where one entry stands out on form
- Horses with strong course and distance records that attract late support
For example, if a horse is priced at 10/1 in the morning and you expect it to start at 6/1, locking in 10/1 early represents a 67% better price.
When to Take SP
SP makes sense when you expect the horse to drift or when the market is uncertain:
- Outsiders that are unlikely to attract support
- Races with late non-runners that can dramatically change the market
- Soft ground specialists when weather conditions are uncertain
Best Odds Guaranteed: The Best of Both
Most major UK bookmakers offer best odds guaranteed (BOG) on UK and Irish racing. With BOG, you take the early price but receive the SP if it turns out higher. This largely eliminates the dilemma.
A £10 bet at an early price of 8/1 with BOG: if SP is 12/1, you receive £120 plus your stake. If SP is 5/1, you still receive £80 plus your stake at your locked-in 8/1.
A Practical Strategy
For most punters, the combination of early-price betting and BOG is the optimal approach. Take prices early when you spot value, and let BOG protect you if the market moves in the other direction. This gives you the mathematical edge of price shopping without the downside risk.