Horseracing Bettors Forum demands clarity on how starting price will be formed

The leading body which represents punters in Britain has raised concerns regarding regulation of the starting price after it was announced on Monday that off-course shows would be used to calculate the SP.

It is estimated that over 50 per cent of bets are settled using the SP, and the news was met with criticism by on-course bookmakers who benefit financially from providing data for SPs.

Colin Hord, chairman of the Horseracing Bettors Forum (HBF), is urging the Starting Price Regulatory Commission (SPRC) to provide more detail on how the new system will be managed to provide fairness for bookmakers and punters.

Starting price revolution likely as off-course prices to be permanent fixture

Hord said: "The biggest issue is going to be regulation. For many years the SPRC have said they don't regulate the SP and the question is, who does? That's an ongoing question for us and the Gambling Commission. We want to know the regulations for how this is going to operate.

"When racing does resume, as we previously did behind closed doors, we are taking an active look at the SPs and satisfying ourselves that they do reflect the betting market that we look at."

In the short period when racing was staged behind closed doors – before the shutdown of the sport due to the coronavirus outbreak – an off-course price was formed following shows from major firms. The SPs will be calculated with off-course and on-course prices.

As this formula is more technical, Hord argues more clarity should be provided for punters.

"Our concern is the transparency element, with the idea that this is going to the new normal," he added. "We want to know how it's going to work and we want to be sure there's a fair system in place that punters can rely on. We're asking the SPRC for clarity about this is going to work. Fairness is very important.

"On the whole, the on-course bookmakers provide a good service. But once it goes to the bigger bookmakers then we have a bit more concern with how it's going to work in practice and how transparent that is. Everyone can go to the racecourse and see the prices and how it's working – it's easy to do that."

It is understood there will be a consultation about the proposed changes.

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