What does ROI mean in betting?

ROI (Return on Investment) is total profit divided by total staked, shown as a percentage. It is the fairest way to compare tipsters.

A value bet is one where the odds offered are longer than the true probability of the outcome — the core of any winning long-term strategy.

What is the difference between backing and laying?

Backing is betting for an outcome to happen. Laying, available on betting exchanges, is betting against an outcome — you win if it does not happen.

What is the overround?

The overround is the bookmaker's margin: the implied probabilities of all outcomes total more than 100%, and that extra is the bookmaker's built-in edge.

Reviewed by TipsterCheck Editorial TeamLast checked 29 October 2026Methodology Corrections

Betting glossary · Racing

What is Early Price?

An early price is a fixed odds price offered by a bookmaker on a race before the off, typically released the morning of or the day before the event. Once accepted, the odds are locked in, meaning the punter receives those odds regardless of how the market moves before the start.

How Early Prices Work

Bookmakers release early prices on horse races, usually from around 9–10am on raceday for same-day fixtures, or occasionally the evening before for major meetings. These prices are set by the bookmaker's traders and reflect their early assessment of each runner's chance. Once you place a bet at an early price, your odds are fixed at that point — if the horse subsequently shortens to 2/1 from the 5/1 you took, you keep 5/1. Equally, if it drifts out, you are still bound to the shorter early price you accepted.

Early prices differ from Starting Price (SP) bets, where your returns are calculated using the official SP recorded in the ring at the off. They also differ from exchanges, where prices shift continuously with market forces. Some bookmakers offer Best Odds Guaranteed (BOG) as a promotion alongside early prices — meaning if the SP is bigger than your early price, they pay the SP instead. BOG availability and terms vary by bookmaker and are not universally offered, so it is worth checking before placing.

Worked Example

Suppose a tipster advises backing Horse A each way at 14/1 early on the morning of a race. You place a £10 each-way bet (£20 total stake) at that early price. By the time the race goes off, Horse A has been well backed and its SP is 8/1. Because you took the early price of 14/1, your win part of the bet is settled at 14/1 and your place part at the each-way fraction applied to 14/1 — not 8/1. If the bookmaker offers BOG and the SP had instead drifted to 16/1, they would settle at 16/1, but rules on this vary.

This illustrates why the price at which a tipster's selection is advised matters enormously. A tipster who consistently identifies runners at 14/1 that shorten dramatically to 8/1 by the off is demonstrating genuine market-moving ability. However, if you could only get 8/1 when following their tips, the profitability of their record would look very different from what the advised odds suggest.

Why Early Prices Matter When Judging a Tipster

When assessing a tipster's results on TipsterCheck or any review platform, it is essential to understand at what odds their bets are proofed. A tipster who logs bets at early prices taken first thing in the morning may show healthy profits at advised odds, but if those prices are unavailable to most followers by the time they see the tip, the real-world profitability will be lower. The difference between 14/1 and 8/1 on the same selection is not a minor rounding error — over a season, it can be the difference between profit and loss.

Responsible proofing services and tipster review sites should record the time a tip is issued and the price available at that moment. Followers should check whether the advised odds were realistically obtainable and whether a tipster's ROI or yield figures are based on early prices that drifted significantly by the off. Early prices that repeatedly shorten can signal genuine edge; early prices that drift to bigger SP figures may suggest the tipster's selections lack market support, which is also worth noting when evaluating long-term records.

Example: A tipster advises Horse B at 10/1 early price at 9am; by the off it is 6/1 SP — a follower who placed promptly at 10/1 receives significantly better returns than one who waited and took the SP.

FAQs

Is an early price always better than the SP?

Not necessarily. If a horse drifts in the market, the SP will be bigger than the early price you accepted, meaning you would have been better off waiting. Early prices are only advantageous when the horse subsequently shortens before the off.

Does Best Odds Guaranteed always apply to early prices?

No. BOG is a promotional offer that varies by bookmaker, race type, and betting method. It is not guaranteed across the industry and may be withdrawn or restricted at any time, so always check the specific bookmaker's current terms before placing.

How does an early price affect Rule 4 deductions?

If a non-runner is declared after you have placed an early price bet, a Rule 4 deduction may still be applied to your returns. The rules governing deductions apply regardless of whether you took an early price or SP; exact deduction percentages vary.

More racing terms: Extra Places, Forecast, Going

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