Betting & odds
Starting Price (SP)
The starting price is the price a runner is trading at when the race begins, determined from the on-course and off-course markets. It is the settlement price for SP bets and the benchmark used in performance analysis, because it reflects everything the market knew by the time the gates opened. Comparing the price taken against the starting price is how closing-line value is measured.
In use
A horse backed at $8.00 that starts $4.50 has generated substantial closing-line value.
On FormRace
FormRace's published track record measures the model's top pick against the starting-price favourite over the same races.