Within horse racing there is just so much jargon and slang words. This makes it easy for the veterans to navigate around all the different quirks but can be a nightmare for the casual fans and beginners to the sport to get their head around. Luckily, we are on hand to help work out just what all that jargon means. We are going to take a look at just what SP stands for in horse betting along with unpicking a whole load of other horse racing slang.
SP, or Starting Price, is the available price on any given horse at the start of the race. The SP is traditionally calculated by a panel of officials at the given racecourse based on the odds quoted by the bookies fixed-priced odds on the concourse when the race begins. Nowadays, the SP betting system has become slightly defunct as bookies offer best-odds guaranteed especially on sign up offers. Backing a horse on an SP bet may be worthwhile, however, if the bookie does not offer best-price guarantees as SP odds can increase massively sometimes – especially if you fancy a horse that’s odds may drift closer to the race beginning.
So now we have got our head around SP betting, what about other famous horse racing slang? Check out some explanations below!
This is a term which spans all of the sports betting markets. Odds is the numerical chance of a selection to win when a bet is placed. Odds can be a bit confusing to new bettors but with experience you are bound to get your head around them sooner or later.
Combination Bet (Accumulator)
A combination bet or more commonly known as an accumulator is two or more bets put on at the same time who all need to win for the punter to win the bet.
An ante-post bet is one that is placed in advance of the final declarations of the race, this means you get better odds but you ruin the chance of hiccups like Non-runners (horse who drops out) where the betting companies will not offer you a refund.
These terms refer to the chances of the horse winning. A banker commonly refers to the favourite which is likely to win and ‘bank’ your money. They are likely to have the lowest odds. An outsider is a horse which has high odds and is not looking likely to win in terms of the market.
The betting ring is where it all happens at the racetrack. The on course bookmakers are here competing against one and others for trade. Expect it to be rowdy, loud and hectic.
Also known as the paddock, this is the area of the racetrack where the horses are shown and walked around first. Here old school punters who are more traditional will view the horse and make a judgement on their bet using things like body language and sheen on the horse.
This is the bet of the day. The bet which is most likely to win in the daily betting. It is most commonly used by tipsters.
This is a booklet given to punters letting them know recent form and important information regarding the races and meetings more generally for the day of racing ahead.
This is an option you can add to your betting selection which means the bookie will pay out accordingly on a top 3 finish in your bets instead of just picking the winner.