The world of professional betting has become an international phenomenon, with millions around the world making bets on their favourite horses or dogs. One of the most important aspects of making these bets, however, is the starting price. Bettors have many different options when it comes to wagering, and learning how the starting price works, and how it fluctuates; can make all the difference when making a new bet.
The Starting Price on the Market
The starting price is a wager that is created at market price when the event begins; following which no more bets are allowed to be made. With the example of horses, every entry is tied in with the odds that have been posted officially, which represent the fixed odds as the event runs its course. Different racecourses around the world use different calculations to determine their starting price. One of the most used methods is to hire a panel of people to calculate the starting price by the use of consensus. This panel watches the market and how it fluctuates, and makes decisions based on this information.
Bettors must take note that the starting price is not connected to the pool or Tote betting. The returns concerned with these two types of betting are based on the number and value of bets received during the betting stages. Computers are used to calculate the Tote, which totals up all the bets and splits that total among whoever wins their wager.
The Starting Price Odds
While there are many methods bettors can use to learn and study the patterns of both the market and the races themselves, there’s no definite way of knowing what the odds will be when the starting price is first set. Using the starting price option is often the only available way bettors can make wagers, as many races do not offer fixed odds from early on. This means that it’s often up to pure chance, which inherently carries its own risk and rewards. Betting on early odds can be risky, as the odds may change drastically over time, and a bettor’s initial bet might be worthless by the time the event begins. Conversely, the opposite may occur, and the bet might be worth a huge amount more than what was started with.
For those wanting to make a bet for the first time but lack the experience, a number of books can be bought online. These books contain all the information about the horses or dogs that are performing in the events that someone has bet on. Patterns can be learnt, as well as the average winnings and losses of different animals. This can be used to make large bets for an animal that may lose a lot in the hopes that if it does win, the returns would be massive. Alternatively, small, safe bets can be made often that ensure a steady steam of winnings with the occasional loss here and there. Having the right information can greatly change the returns that a person may make when making bets on races.
Starting Price Concluded
For those interested in sports online betting, learning about such things as starting prices can completely change the potential returns.