For Horse Racing we use a term called Starting Price, which can be abbreviated to SP. Because the prices on horses change frequently and are often hard to come by before the race day it is easier for us to use the Starting Price to settle bets. The Starting Price is the last odds given by the on-course bookmakers and which are published in results pages both by race cards and on the internet. If these are not available we will settle the bets at the price given by the Tote.

In your bet history you will be told the odds your bet was settled at if you had a winning bet. If you had a losing bet your bet will be displayed at odds of SP or 1.00. You will be given the full amount of stars available for bets made at SP. So for every 100 IBR bet you will be credited with 1 Star.

We will choose between using the on-course bookmakers starting price or the tote starting price when settling bets depending on which becomes available first. The bookmaker's price is seen as what is released and published by the on-course bookmakers after the race. The tote price is what is released and published by the Tote after the race. The independent bookmakers are the licensed bookmakers on course who take bets from the betting ring. The tote is the pool run tote betting system, which is also run on the race course.