What is SP in Betting and How Does it Affect Your Bets?

In Australia, sports betting has many terms that can confuse beginners. One key term is Starting Price (SP). This is simply the final odds given for a competitor right when a race begins. Knowing what SP means can help you bet smarter, whether you’re interested in horse racing at Flemington, greyhound events at Wentworth Park, or harness racing at Menangle.

Platforms like SpeedAU make it easy for beginners to understand and use SP. Choosing between SP and fixed odds can change how much you win. But what exactly is SP, how does it work, and how does it compare to other betting systems? Let’s break it down clearly.

What exactly is SP?

Starting Price (SP) is the official odds set for a runner right at the moment the race starts. Unlike fixed odds, SP isn’t known ahead of time. Instead, bookmakers look at all their odds just as betting closes and calculate the average. This average becomes the SP.

Think of it this way: when you bet using SP, you agree to take whatever odds appear right when the race begins. You won’t know exactly how much you might win until the race has started.

SP in Different Sports: Not Just Racing

In Australia, SP (Starting Price) is commonly linked with horse, greyhound, and harness racing. But it’s important to know if and how SP might apply to other sports as well.

In reality, SP is rarely used outside of racing. For popular sports such as AFL, NRL, cricket, and soccer, betting markets typically operate with fixed odds. This means the odds you see at the time you place your bet are exactly what you get, regardless of later changes.

However, understanding SP can still help you grasp how betting markets move in general. Even though official SP bets aren’t placed on AFL or soccer matches, observing how odds fluctuate before kick-off can offer useful insights. For instance, if a team’s odds shorten dramatically just before a game starts, it usually indicates strong support or important late team news.

Here’s an example from soccer:

• Suppose Melbourne Victory initially has odds of $3.00.
• Just before kickoff, these odds shorten to $2.50.
• Though there’s no official SP, noticing this shift could help you decide if placing an early fixed-odds bet was beneficial, or if waiting could have given you better value.

Knowing how odds change before events across all sports, even without official SP bets, can sharpen your betting decisions.

Comparing SP with Fixed Odds and Tote Betting

Understanding the differences between SP and other betting systems like fixed odds and tote betting can help you place smarter bets.

Fixed Odds are simple: you lock in the price at the time of your bet. If the odds change later, your payout remains the same. For example:

• You place $20 on Sydney Swans at odds of $2.50.
• Even if odds shorten to $2.00 later, your payout stays at $50 if the Swans win.

In contrast, betting at SP means accepting whatever odds exist at the event’s start. You might get higher or lower odds than fixed odds offered earlier.

Tote betting is different again. Your payout depends on the pool of all bets placed. If fewer punters back your chosen competitor, your payout can be bigger. However, tote payouts aren’t known until after the event.

Practical Example: SP vs Fixed Odds

Imagine betting on an AFL Grand Final:

• Two weeks before the final, Collingwood’s odds are $1.80.
• On game day, due to injury news, odds drift to $2.10 at kickoff.

If you chose fixed odds earlier ($1.80), your potential payout stays the same. But if SP bets were available (though officially not used in AFL), you’d have benefited from odds increasing to $2.10.

Although SP betting isn’t offered in sports like AFL officially, understanding the concept helps you see opportunities and risks clearly across all betting.

When Betting at SP can be Smart

Betting at SP makes sense if you’re confident that the odds on your chosen competitor will drift—that is, become more generous by the time the event starts.

Consider cricket, for example, where official SP isn’t used, but odds do shift notably close to the match start. Say Australia is about to play India:

• Initially, Australia’s odds to win are set at $1.85.
• News emerges about a key player’s injury, and Australia’s odds rise to $2.20 just before play begins.

If something like SP existed here, waiting until the last minute would have significantly improved your potential payout.

Risks to Keep in Mind with SP

While waiting until the last moment can sometimes yield better odds, it’s not always a safe strategy. Prices can shorten instead of lengthening, causing you to lose potential value.

Imagine an NRL match scenario:

• Early in the week, Brisbane Broncos have odds of $2.00 to win.
• By game day, key players return from injury, causing odds to drop sharply to $1.60.

If you’d delayed your bet hoping for a better price, you’d now face a lower payout. Betting earlier at fixed odds would have protected your potential returns.

Making the Most of Betting Offers

Australian bookmakers regularly offer special deals to attract punters, which can combine the advantages of both SP and fixed odds.

One popular promotion, known as Best Odds Guaranteed (BOG) (mostly used in racing), works like this:

• You place your bet early at fixed odds of $3.00.
• On race day, odds drift out to $3.80.
• The bookmaker automatically pays out the higher SP odds, giving you the best possible return without extra risk.

Although these offers mainly apply to racing, beginners should always check bookmaker promotions—like those from TAB, Sportsbet, or Ladbrokes—to boost their betting advantage.

How Bookmakers in Australia handle SP

In Australia, bookmakers each have their own way of presenting SP betting. It’s important to know these differences clearly to make smarter choices.

TAB sets the standard for SP betting. When you place an SP bet with TAB, you receive what’s known as the State Official SP. TAB calculates this price from bookmakers’ odds right at the start of the race, ensuring fairness.

Sportsbet works similarly, offering SP bets that match the official state SP. They also feature products like “Top Tote Plus,” combining tote betting and SP, so you always receive the highest possible odds among these options.

On the other hand, Ladbrokes uses its own version of SP. Instead of matching the official odds, Ladbrokes pays out at their final advertised fixed odds. This might differ slightly from the state SP.

Always check the bookmaker’s specific rules before placing an SP bet. Small differences can affect your winnings significantly.

Legal and Practical Points about SP Betting

In Australia, betting—including SP betting—is legal and strictly regulated. All bookmakers like TAB, Sportsbet, and Ladbrokes must follow clear rules set by state authorities. These rules ensure fairness, protect punters, and keep the betting industry transparent.

To bet legally in Australia, you must:

• Be at least 18 years old.
• Use licensed betting operators only.
• Understand that betting online during a match is restricted for most sports, though allowed for racing events.

Practically, this means you can confidently place an SP bet knowing that the odds calculation and payout process are strictly supervised. Bookmakers must clearly state how they calculate SP and must pay according to those rules.

Always remember to gamble responsibly—understanding odds and betting systems like SP can make betting safer, more enjoyable, and help manage your risk better.

Final Tips: Making SP Work for You

As a beginner, the key to using SP successfully is understanding when it might benefit you and when fixed odds might be safer. Here are some straightforward tips to remember:

• Monitor market movements closely: If odds on your preferred competitor keep drifting, SP might give you a better payout.
• Understand bookmaker rules: Always check exactly how your chosen bookmaker calculates SP, since slight variations could affect your winnings.
• Combine SP with promotions: Take advantage of promotions like Best Odds Guaranteed (BOG), which can protect you from losing out if odds move unexpectedly.
• Be cautious with high-profile events: Odds fluctuations before major sports events or finals can be unpredictable. Carefully evaluate before choosing SP or fixed odds.

Betting at SP can be profitable when done thoughtfully, but it also involves risk. By keeping these simple tips in mind, you can make more informed betting decisions.

Disclaimer: Gambling involves risk. Please only gamble with funds that you can afford to lose.