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You may also place your Win bet using Starting Price, or SP, rather than taking the odds on offer at the time. SP is the official starting odds for a horse, which is determined by a number of on-course bookmakers immediately after the start of the race.

Betfair's Starting Price ('SP' or 'Betfair SP') is calculated by balancing all SP bets and Exchange bets when the market is suspended at the 'off' of the relevant event. An SP bet cannot be cancelled once it has been placed.

Let X_t+1 = X_t b_t where +b_t and -b_t occur with equal probability b_t is measurable !1_t, and the outcome b_t is measurable !1_t+1 (in other words, my "bet" b_t can only depend on what has happened so far and not on the future, but my knowledge !1_t includes the outcome of all past bets). Then {X_t|!1_t} is a martingale.

The Martingale System is commonly compared to betting in a casino with the hopes of breaking even. When a gambler who uses this method experiences a loss, they immediately double the size of the next bet. By repeatedly doubling the bet when they lose, the gambler, in theory, will eventually even out with a win.