A bar price is the odds of selections not quoted, especially in horse racing. It is also known as a starting price (SP) or an industry price. For example, if you see a betting market for a horse race that looks something like this:
It means that the bookmaker has quoted the odds for the first four horses, but not for the rest of the field. The bar price indicates the lowest odds that any of the unquoted horses will have at the start of the race. In this case, it is 10-1. This means that any horse that is not listed will have odds of 10-1 or higher.
Why Do Bookmakers Use Bar Prices?
There are several reasons why bookmakers use bar prices in betting. Some of them are:
Convenience: Using bar prices can save bookmakers time and effort in quoting the odds for every horse in a large field. It can also make the betting market more concise and clear for customers.
Flexibility: Using bar prices can allow bookmakers to adjust the odds for the unquoted horses based on the supply and demand of the market. It can also enable customers to choose their own odds for the unquoted horses within a certain range.
Profitability: Using bar prices can help bookmakers increase their profitability and margin in betting. By offering lower odds for the unquoted horses, they can reduce their potential payouts and increase their edge over customers.
How to Bet on Bar Prices?
Betting on bar prices is not difficult and requires some steps. Here are some steps that can help you bet on bar prices in betting:
• Find a reputable and licensed sportsbook that offers bar prices on your preferred sport and event.
• Choose the unquoted horse that you want to bet on.
• Check the bar price and the range of odds for your chosen horse.
• Enter your stake and confirm your bet.
• Wait for the event to start and end and collect your winnings or losses based on the final odds of your horse.
What are the Pros and Cons of Betting on Bar Prices?
Like any other type of bet, betting on bar prices has its advantages and disadvantages. Here are some of them:
Pros
Provides more variety and options in betting
Allows more flexibility and choice in betting
Offers more excitement and thrill in betting
Suitable for any type of sport or event
Cons
Involves more risk and uncertainty in betting
Requires more patience and luck in betting
Depends on finding reliable and accurate sources of information and data
Varies widely across different sportsbooks and markets
Tips for Betting on Bar Prices
Betting on bar prices can be a rewarding and enjoyable way of betting, but it also requires some skills and strategies. Here are some tips that can help you improve your chances of winning when betting on bar prices:
Do your research: Before placing your bet, make sure you do your research on the event and the unquoted horse that you want to bet on. Check their form, pedigree, trainer, jockey, track, distance, weather, and any other relevant factors.
Compare odds: Different sportsbooks may offer different bar prices and ranges of odds for the same event and horse. Therefore, it is important to compare odds from different sources and find the best value for your bet.
Shop for lines: Sometimes, you may find a better line for your horse at another sportsbook or at another time. Therefore, it is advisable to shop for lines and look for opportunities to get better odds or pay less juice.
Manage your bankroll: Betting can be fun and rewarding, but it can also be risky and addictive. Therefore, it is essential to manage your bankroll wisely and only bet what you can afford to lose. Set a budget and stick to it. Don’t chase your losses or get carried away by your wins.
To Sum Up
Bar price is one of the most specific and confusing terms in betting. It refers to the odds of selections not quoted, especially in horse racing. It can be used by bookmakers for convenience, flexibility, or profitability reasons. It can also be used by customers for variety, choice, or excitement reasons. Therefore, it is important to understand and bet on bar prices before placing your bets.