Betfair on course to produce own SPs

Betfair, the internet's leading betting exchange, is believed to be on the verge of allowing punters to place bets which will be settled at "Betfair starting price" - the price of a horse at the moment a race begins. The move is intended to boost liquidity in its racing markets from early in the day, but is also a clear challenge to traditional bookmakers, who settle the majority of bets at the official SP, returned by a team of reporters in the betting ring at the racecourse in question.