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How To Use Betfair: SP Betting

When you have power, you use alot of big words, like, acquisitions and coco cabana.

You also use little words to, like, win, and other words that are not even words like SP.

Hello, and welcome to Step 8 of Betfairs Path to Power SP or Starting Price.

The Betfair’s Starting Price guarantees that you will get the best exchange price at the jump and the insurance that
you will get your bet on without waiting for your bet to be matched.

The SP is generated by an algorithm developed by Betfair’s finest mathematicians.

It’s complicated mumbo jumbo, but all you need to know is that the SP is a single, optimised, never to be repeated price.

SP is easy, whether your backing or laying or using free bets in the old days which is no longer available.

If you want to make a back bet, click on the blue SP button and enter your stake.

If you want to lay a runner at the Betfair SP, click the pink SP Button and enter your liability, which is the amount you are
prepared to risk if your chosen runner wins.

Remember, you can set an odds limit on both sides of the Exchange.

For more information about the Betfair Starting Price go to

Now that you know that SP is even easy than ABC, you are ready for Step 7 of Betfairs Path To Power, FAQ, Frequently Asked Questions.

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More About SP Betting

Racing punters are well acquainted with SP betting. The term has been in use for many years, used to refer to the aggregate odds that were posted by on-course bookmakers. Of course, these odds favoured the bookmakers to a greater or lesser degree depending upon the bookmakers involved.

Now that online racing punting has become so firmly entrenched in the scene, SP betting is more equitable to a certain degree because of the fierce competition for punter dollars that could hinge on a practically inconsequential advantage for one bookmaker compared against another.

Betfair does not depend on skewing the SP odds to account for their profit margin. Instead, they arrive at SP odds by taking into consideration the number of backers compared to the number of layers for a market. It is a very precise calculation that moves the needle in the favour of punters to a decent extent, more than enough in the minds of many to sway their wagers towards placement with Betfair.

SP betting though is easily manageable thanks to the sophisticated bet matching software that is part of the Betfair wagering platform. Here is a brief rundown on the process. A more thorough explanation will be found on the Betfair website in the Help section.

SP Betting-Backing

1. Begin by selecting a market and opening the Market View for that market.
2. Click the SP box. This will open a window that will contain the option for either backing or laying the horse on which you want to place and SP bet. More free bets here.
3. Your odds will be displayed when the event begins and your wager is matched with that of a punter with an opposing view to yours.

SP Betting-Laying

1. Begin by following steps 1 and 2 from above.
2. Specify the stake you are trying to win from the backing side of the equation if you are laying at some specific odds. Betfair’s SP betting platform will automatically perform the calculation of your liability.
3. Layers will have the ability to specify a liability limit. Betfair will set aside this amount from the layer’s account.
4. Potential winnings will become apparent when the race starts.

As you can see, there is a certain element of uncertainty to SP betting for punters, since actual odds are unknown until the event jumps and the back and lay wagers are paired.

Some could find this disturbing, but Betfair offers some projected odds. Punters will see a range of odds called the Near Price and the Far Price. These will be found by clicking on the More Options tab in the Market View. The Near Price is generally the more accurate of the two, and Betfair’s vast degree of historical experience in making the calculations should reassure punters that there is very little probability of an excessive degree of surprise. That would be bad for business.

Punters need to be acutely aware that canceling a SP bet is not permissible. The primary reason is so that odds cannot be manipulated by phony bets where a large stake could affect odds, and then be canceled. This type of shenanigan goes on often in the stock market where an investor will place an order for a huge number of shares to influence other investors into thinking that someone with inside knowledge is getting involved.

There will possibly be some instances where SP betting would result in Betfair being the counterparty to your wager, for example, an Aussie punter putting a punt on a non-Australian race.

There are some other considerations to SP betting. Betfair goes to great lengths to outline and explain these at this location:

Another excellent outline of Betfair’s SP betting can be found here:

Betfair has had a profound influence on SP betting in Australia. The main advantage for punters is that since Betfair calculates SP without the need to build in a profit for themselves, the odds are generally superior to what would be available from on-course bookies.

One of the clearest, most concise explanations we have ever experienced, including a section on backing, one on laying and one on setting liability limits can be found here:

Betfair goes to extreme measures to ensure punters that SP betting through them is a positive experience. There are sections on the website that will take you immediately to current SP markets, along with one very informative section that outlines SP history so that punters can make a legitimate comparison of the odds and resulting dividends. This degree of transparency is quite refreshing and should do much to allay any concerns about the unknown element of not knowing for absolute certain what we be the final odds of a matched bet until the race starts.

For that matter, everything that Betfair has done to make SP betting respectable is a source of great credit to them.

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