Starting price in racing, defined
Starting price (SP) is the price in force when a race starts. A bet that settles at SP is paid at that price, not at the price shown when the bet was placed. At an SP of 4.50, an A$20 winning bet returns A$90.00 including the stake. Operator and organiser rules decide how SP is set and which bets use it.
The definition
SP stands for starting price. It is the price in force at the start of the race, and it is the price used to pay a bet that was taken at SP.
The return on a winning bet is stake × SP, stake included. The profit is that return minus the stake.
Where this stands: SP is the price at the start, and it sets the return of an SP bet.
Three worked returns
| Stake | SP | Return | Profit |
|---|---|---|---|
| A$20 | 4.50 | A$90.00 | A$70.00 |
| A$30 | 2.20 | A$66.00 | A$36.00 |
| A$5 | 8.00 | A$40.00 | A$35.00 |
A losing bet returns nothing, whatever the SP.
Where this stands: return equals stake times SP, and a loss returns nothing.
SP against a fixed price
With a fixed price, the odds are agreed when you place the bet. With SP, they are not known until the start. The same bet can therefore pay more or less than the price shown earlier in the day.
For the wider contrast between fixed prices and pooled betting, see fixed odds or tote. Reading the numbers is covered in how to read decimal odds.
Where this stands: a fixed price is known when you bet; an SP is not.
The link to best odds guaranteed
Some operators publish a condition that settles a bet at the better of the price taken and the SP. That condition is explained, with its terms, in best odds guaranteed.
A runner withdrawn before the start can change the payout; see scratchings and deductions.
Where this stands: SP is the reference price that best odds guaranteed compares against.
Facts still to be read
| Fact | Source to read | Status |
|---|---|---|
| How an operator sets the SP | Operator racing rules | Not confirmed on 2026-11-13 |
| Which bet types can be taken at SP | Operator racing rules | Not confirmed on 2026-11-13 |
| Organiser wording on the start of a race | Racing Australia and code bodies | Not confirmed on 2026-11-13 |
At least three such facts are read and dated before this page is published. See racing bookmakers in Australia and horse racing betting for context.
Where this stands: the arithmetic is derived; operator and organiser rules are not yet read.
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FAQ
What does SP mean in racing?
SP is the starting price: the price in force when the race starts. A bet settled at SP is paid at that price.
How is the return on an SP bet worked out?
Multiply the stake by the starting price. At an SP of 4.50, an A$20 winning bet returns 20 × 4.50 = A$90.00, including the A$20 stake.
How does SP differ from a fixed price?
A fixed price is locked when you place the bet. An SP is not known until the race starts, so the return cannot be worked out in advance.
Where do the exact SP rules sit?
In the racing rules of each operator and in organiser rules. These have not yet been read for this page and are not confirmed on 2026-11-13.