The horse racing industry has a new product for players to enjoy as the news of Betfair Starting Price Index launched late last week on Australian Horse Racing events.
The company define the product as; A BSP Index is the aggregate value of the BSP (Betfair Starting Price) of all winners over a pre-determined number of races. For example, the BSP Index at a 9 Race Card at Flemington would be the combined number of all 9 BSP winner prices after the end of the last race.
This innovative product is playing off a lot of the popular sports and proposition markets people are enjoying betting on these days.
It is essentially a simple over/under bet like you would see on AFL, NRL and Soccer games but for a particular race meeting.
Betfair say that the market will be open by 9.30am on race day morning and remain open for ‘live trades’ throughout the day as the race meet evolves.
See below for an example of how the market will display within the betting interface. It's super simple and will be sure to be a target for both recreational and pro punters alike.
Professional horse racing punter, noted Betfair user and industry professional Daniel O'Sullivan had this to say about the introduction of this new product.
‘’The BSP Index is a great addition to the current betting marketplace. The ability to bet and then trade during the day provides opportunities for profit that are currently not available to punters, as well as sustaining a high level of interest in every race on the program. I will definitely be adding the BSP Index to my regular betting strategies.’’
We expect this is the first of many small innovative markets operators in the horse racing space look to introduce in coming months to help combat the shift the Australian public has made toward sports betting.
Many racing punters have struggled to get set for a decent bet in recent times and Betfairs 'exchange' model allows for them to get on as much as they want as long as there is a 'layer' on the other end willing to take the risk. It's a playground for some of Australian racings sharpest and astute betting minds.
