{"id":578,"date":"2022-09-21T05:47:29","date_gmt":"2022-09-20T19:47:29","guid":{"rendered":"https:\/\/bfhubprod.wpengine.com\/hub\/?p=578"},"modified":"2024-09-18T15:51:39","modified_gmt":"2024-09-18T05:51:39","slug":"betfair-starting-price-bsp","status":"publish","type":"post","link":"https:\/\/www.betfair.com.au\/hub\/education\/betfair-basics\/betfair-starting-price-bsp\/","title":{"rendered":"BETFAIR STARTING PRICE (BSP)"},"content":{"rendered":"
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In 2016, the\u00a0Betfair Starting Price (BSP or Betfair SP)<\/strong> was born. This revolutionary product allows back and lay punters to have their bets matched on the Exchange\u00a0as a horse, harness or greyhound race starts and gives them the Best Odds. As you\u2019ll see from the Betfair SP vs Best Tote Odds Comparison table below, the product provides exceptional value to all users.<\/p>\n

For the latest Horse, Harness and Greyhound Results to compare the BSP with the Best Tote, head to\u00a0our Results Page.<\/a><\/strong><\/p>\n

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BSP V BEST TOTE COMPARISON<\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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To illustrate the advantage of using the BSP we\u2019ve taken a simple $1 back bet from all winners since September 2016 to calculate the BSP and Best Tote winnings.<\/p>\n\n <\/div>\n <\/div>\n \n \n \n

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HOW IS THE BETFAIR SP DIFFERENT TO THE TRADITIONAL SP?<\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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Traditionally in Australia, the Starting Price for any horse in any race has been determined by the most common prevailing price available in the bookmakers ring at the meet in question. Betfair\u2019s Starting Price is different.<\/p>\n

It\u2019s based on bets placed by both backers and layers in any market. At the\u00a0start of an event it looks\u00a0at the relationship between the amount of money requested at SP by opposing customers and any\u00a0unmatched Exchange bets.<\/p>\n

There\u2019s no margin for profit built in \u2013 and that\u2019s why we think it will give you much better value, even after taking account of commission paid on your net winnings.<\/p>\n\n <\/div>\n <\/div>\n \n \n \n

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WHERE CAN I BET ON THE BETFAIR SP?<\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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Australia \u2013\u00a0<\/strong>All\u00a0thoroughbred<\/strong>\u00a0win markets and all place markets. All\u00a0harness<\/strong>\u00a0win markets and all place markets, except for NSW meetings and any meetings predominantly on Sky 2. Sky 2 meetings are win market only. All\u00a0greyhound<\/strong>\u00a0win markets and all place markets.<\/p>\n

New Zealand<\/strong>\u00a0\u2013 All\u00a0thoroughbred<\/strong>\u00a0win markets. All\u00a0greyhound<\/strong>\u00a0win markets.<\/p>\n

International<\/strong>\u00a0\u2013 All\u00a0thoroughbred<\/strong>\u00a0win markets across selected racing around the world.<\/p>\n\n <\/div>\n <\/div>\n \n \n \n

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HOW TO PLACE AN SP BET?<\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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Firstly, you need to have the \u2018Betfair Starting Price\u2019 box ticked within Settings.\u00a0This will bring up a new column in the market view allowing you to Back or Lay at SP.<\/p>\n

Full SP Betting\u00a0<\/strong>\u2013 you can place the full stake of your wager down on the SP by clicking on the Back or Lay SP button.<\/p>\n

Unmatched\u00a0SP Betting\u00a0<\/strong>\u2013 you can take a price at the Back or Lay odds and if your bet is partially matched, you are prompted to \u2018Take SP\u2019 for the unmatched amount. By clicking \u2018Take SP\u2019 and updating your bet, when the event turns in-play, any unmatched amounts will automatically be matched at the SP price. This also applies to bets that may be fully unmatched when the event turns in-play \u2013 the SP provides convenience ensuring you get your stake matched.<\/p>\n\n <\/div>\n <\/div>\n \n \n \n

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ACCURACY OF BSP<\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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Below is a plot to show how \u201caccurate\u201d the Betfair Starting Price (BSP) is.<\/p>\n

The data in the graph and table below shows the BSP in win markets across all racing codes on all ANZ racing events from the beginning of 2015 through July 2020.<\/p>\n

Included in the data is 381,776 races, entailing 3,235,630 runners.<\/p>\n

As you can see, the BSP\u2019s implied chance of winning (to the nearest percentage point) is very accurate when compared against the actual chance.<\/p>\n\n <\/div>\n <\/div>\n \n \n \n <\/div>\n\n\n

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