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The early price is a term most associated with horse racing but can be used in most sports and refers to a fixed price of a horse prior to the race.
This early price is offered before an event gets underway and followed by the starting price, which is the price offered by bookies if the early price is not selected by the punter.
As the odds of the starting price are calculated by taking the mean average of prices by the on-course bookies, it means there is a risk attached to both the starting price and early price as no one knows which one will offer the best value before a race begins.
Early price is a common market in horse racing betting and forms a crucial part of a punter’s betting strategy. This is because the early price is the fixed quoted price by a bookmaker.
An example of this would be to bet on the Grand National and take a look at the early price odds offered by a bookmaker.
If you select a horse such as Comply or Die to win the race at 8/1, that would mean you have taken the early price.
However, if you decide you want to take the starting price, then the odds can change accordingly, and you will receive the odds the horse starts the actual race with which will be unknown until just before the start.
Taking either is a risk but with the early price at least you know you are guaranteed those odds.
Back in 2009, Grand National winner Mon Mome became the longest odds winner of the famous race after boasting a whopping great early price of 100/1 with the turf accountants.