What is Starting Price (SP)?

How Starting Price Works

In British racing, the SP is determined by independent starting price regulators who observe on-course bookmakers' boards at the moment the race goes off. The process is overseen by the Starting Price Regulatory Commission (SPRC), which ensures the returned price reflects the genuine market at the track. Prices from multiple layers are sampled and a consensus figure is agreed. This is then published as the official SP for each runner.

If you place a bet without specifying a price — for instance by simply asking for a horse 'at SP' — your bet is settled at whatever that official figure turns out to be. You will not know the exact odds until after the race. A horse forecast at 5/1 in the morning might start at 7/2 if heavily backed, or drift to 8/1 if support fails to materialise. Importantly, where a horse is withdrawn before the off, Rule 4 deductions do not apply to SP bets in the same way they apply to fixed-price bets; check individual bookmaker terms, as rules can vary.

Worked Example

Suppose you back a horse each-way at SP with a £10 stake (£5 win, £5 place). The horse goes off at an SP of 9/1. Your win part returns £50 profit plus your £5 stake (£55 total) if it wins. The place part is settled at a fraction of 9/1 — typically one-fifth or one-quarter depending on each-way terms for that race — multiplied by your £5 place stake, plus the stake returned.

Had you taken an early price of 12/1 instead, your returns would have been higher. Conversely, if the horse drifted to 14/1 at SP, taking the early price would have cost you. This uncertainty is the core trade-off of betting at SP: you accept the market price at the off rather than locking in a price beforehand.

Why SP Matters When Judging a Tipster

When assessing a tipster's record, the price at which results are recorded makes a significant difference to reported profit and loss. Many tipsters record advised odds or early prices that may be difficult to obtain, particularly for shorter-priced horses where bookmakers restrict early availability. If a tipster's results are proofed exclusively at SP, it provides a more conservative and reproducible benchmark — most followers can get SP from any bookmaker or via a betting exchange.

However, SP can also flatter a tipster if their selections consistently drift, or understate performance if their tips are regularly backed in from the advised price. When reviewing a tipster on a site such as TipsterCheck, always check whether results are recorded at SP, advised odds, or Betfair SP, and consider how realistic those prices are to achieve. A strong yield at early prices that collapses when recalculated at SP is a meaningful warning sign.

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