Greyhound racing uses certain terms that might feel a little unfamiliar at first glance. One of these is SP, a feature seen on betting slips and often heard around the track, though it might not be fully clear at first.
Even though it might seem like a small detail, SP influences how payouts are worked out if you choose to bet in this way. The odds offered by bookmakers may shift before the traps open, but the official SP is only declared at the moment the race begins.
This blog post introduces the idea before explaining how SP is formed, why it is used, how it shapes hypothetical returns, and which misunderstandings are best left aside.
Read on to learn more.
Understanding SP in Greyhound Racing
SP stands for Starting Price, but at this stage, it is enough to view it as the official figure given to each runner just as the race is about to begin. If you choose to place a bet at SP, your return is calculated using that official figure rather than whatever was shown earlier in the day.
This figure comes from prices available to the public across several bookmakers at the track. Because it mirrors the latest market activity, SP might settle either higher or lower than the quotes seen earlier.
With that outline in place, the next section explains how the final figure is formed in a detailed way.
How Is SP Calculated in Greyhound Racing?
The SP is created from the odds offered by on-course bookmakers shortly before the off, but the process is slightly more involved than it first appears. SP is derived using a standardised method that samples the prices offered by on-course bookmakers, removes unrepresentative outliers, and selects a representative market price available to bettors at the off.
This involves examining a spread of quotes, setting aside any that do not genuinely reflect the going market, and producing a representative figure. The intention is to keep the method rooted in publicly available prices that were live as the race began.
The SP is produced using established rules designed to ensure consistency and reflect the prices genuinely available at the track. Oversight procedures vary by jurisdiction but follow broadly similar principles. With that foundation understood, it becomes clearer why bookmakers rely on SP.
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Why Do Bookmakers Use SP?
For bookmakers, SP offers a common benchmark that avoids disputes and keeps settlement straightforward. It suits anyone who prefers to use the market’s final view of a race or who is betting close to the off and does not wish to fix a price earlier.
Because SP is shaped using information from several bookmakers, it acts as a transparent meeting point rather than a number chosen by one operator. Its broad use at tracks and online allows potential payouts to be handled consistently.
This naturally leads to another point about the timing of SP, explored next.
Can SP Change After the Race Starts?
No. Once the race begins, the SP is settled. It reflects the odds available at the moment the runners leave the traps and stays in place after that point.
Any late movement that occurs once the race is underway does not influence the SP, nor does it alter hypothetical settlement for anyone choosing to bet at SP. With the timing explained, we can now look at how this figure shapes possible payouts.
Does SP Affect Betting Payouts?
Yes. If you choose to bet at SP, your return is based on that figure. This might differ from what you might have received had you chosen a fixed price earlier.
For example, if someone hypothetically placed a £10 win bet at an SP of 3/1, the return would be £30 profit plus the £10 stake—£40 in total. If they had taken 7/2 earlier, the return would have been larger; if they had taken 5/2, it would have been smaller. Choosing SP or a fixed price simply depends on whether someone prefers the final market view or an earlier quote.
If you choose to bet, keep your spending within your personal limits and consider using available gambling-management tools.
Common Misconceptions About SP in Greyhound Racing
A few ideas often circulate about SP, and the points below help clear up some frequent misunderstandings.
- “SP is always better than fixed odds.”
- Not correct. Sometimes SP ends up higher, sometimes lower, depending on how the market moves beforehand.
- “One bookmaker sets the SP.”
- Untrue. It is generated from prices offered by several bookmakers, then agreed as the official figure.
- “SP may change after the off.”
- It is not able to do so. SP is locked in before the runners leave the traps and stays fixed thereafter.
SP is not a forecast of performance but rather a snapshot of where the market settled at the start. If you choose to bet, keep things affordable and continue using responsible gambling practices.
