STARTINGPRICE

Starting price

In horse racing, the starting price is the odds prevailing on a particular horse in the on-course fixed-odds betting market at the time a race begins. The method by which SPs are set for each runner varies in different countries but is generally by consensus of an appointed panel on the basis of their observations of the fluctuation in prices. The principle function of a starting price is to determine returns on those winning bets where fixed odds have not been taken at the time the bet was struck.

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starting price

Noun

  1. The opening price for an item at an auction.
  2. The final odds on a horse when the race starts; also used to designate a system of fixed-odds betting using such prices. Abbreviation: SP.


The above text is a snippet from Wiktionary: starting price
and as such is available under the Creative Commons Attribution/Share-Alike License.

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