What does a tissue price mean, and is it a price I can actually bet at?
Clear explanation of what a tissue price is in horse racing markets, whether you can take it with a bookmaker or the Tote, and how it differs from board prices and SP.
By Sarah MitchellBetting & Tips EditorPublished · Updated · 850 words · 5 min read
The short answer
A tissue price is an informal, displayed quote from a bookmaker reflecting the market’s likely early public price rather than a guaranteed fixed-odds offer; it’s a working indicator used by on-course traders and punters, not an automatic bet you receive unless you explicitly take that shown price from the bookmaker at the time of placing your wager [jc-jargon] [gbr-glossary].
What a tissue price is and how bookmakers use it
A tissue price is an on-course bookmaker’s communicated estimate of what they expect the market to be shortly or by race start. It functions as a market signal: bookmakers display board or tic-tac prices for punters to take; tissue quotes are closely related and represent the working price a trader would be prepared to lay or accept. The Jockey Club defines price simply as the odds offered by a betting operator, and board or displayed prices are the public-facing form of that price [jc-jargon]. Great British Racing explains that board prices and the market a bookmaker makes are how the market for a race is created and adjusted according to betting demand, which is the broader context in which tissue quotes appear [gbr-glossary].
Why tissue prices are informative but not always binding
Tissue prices are informative because they show the trader’s current exposure and intended book; however they are not necessarily a binding fixed-odds contract. A fixed-odds bet is only fixed when a bookmaker accepts your stake at the quoted odds at the moment you place the bet. The Jockey Club note that fixed-odds means you get the odds advertised when you placed the bet, implying that someone seeing a tissue or board quote must still place the bet and have it accepted to lock those odds [jc-jargon]. Great British Racing’s coverage of board prices and market formation reinforces that displayed odds can move rapidly as money is laid on or against a horse, so a tissue indication may change before acceptance [gbr-glossary].
How tissue prices differ from starting price and Tote prices
Starting Price, or SP, is a formalised final market figure derived from on-course board prices at the moment the race starts and can be requested as the settlement price for a bet with many bookmakers. The Jockey Club explains SP as the official odds a horse started at and notes you can ask for an SP bet with a bookmaker (but not the Tote) [jc-jargon]. The Tote uses pooled betting with dividends that reflect the whole pool rather than a bookmaker’s individual board, so a tissue price from a bookie is conceptually different from the Tote’s fluctuating pool-based payouts described by Great British Racing [gbr-glossary].
What decision you actually face when you see a tissue price
When you see a tissue or board price you must decide whether to accept it immediately as a fixed-odds bet or to decline and potentially take SP or a later price. If you want guaranteed odds you should explicitly place the fixed-odds wager at the displayed quote and receive confirmation; otherwise, if you prefer SP you must instruct the bookmaker to take SP when placing the bet. The Jockey Club emphasises the distinction between fixed-odds and SP instructions, which matters because late money can move the market and alter the starting price versus the earlier tissue quote [jc-jargon]. Great British Racing’s note that board prices form the SP underlines that taking the board price at the time you strike the bet is the practical way to lock those odds [gbr-glossary].
Limitations and practical checks before accepting a tissue price
Treat a tissue price as provisional until the bookmaker accepts your stake. Check whether the operator is offering fixed-odds bets at that moment, whether they accept SP instructions, and whether you are on-course or using an online app—operating practices differ. The Jockey Club makes clear that fixed-odds are honoured when accepted at placement, while Great British Racing points out that board prices shift with betting demand and are what underpin SP, so timing and confirmation are the practical limitations you must manage [jc-jargon] [gbr-glossary]. Always ask for verbal or electronic confirmation of the price you receive before committing your stake.
Worked example
hypothetical: Suppose you are at a racecourse and a bookmaker’s tic-tac shows a tissue price of 3-1 for Horse A while the SP camera is some minutes away. You can walk to the bookmaker and place a fixed-odds £10 bet at 3-1; if the clerk accepts, you are guaranteed those odds and a potential return of £40 if the horse wins. Alternatively, you can instruct the bookmaker to take SP; if late money shortens Horse A to 5-2 by the off, an SP bet would be settled at that 5-2 figure instead. The choice is between the currently displayed board/tissue quote that you can lock in by getting the wager accepted, or taking the official SP and accepting whatever final market produces at the start [jc-jargon] [gbr-glossary].
Related questions
Can I ask for the starting price (SP) instead of taking a tissue price?
Yes: you can request an SP bet with many bookmakers, and doing so means you take the official starting price rather than a board or tissue quote; the Tote operates pool betting and does not take SP bets in the same way, so check the operator’s rules before placing an SP instruction [jc-jargon] [gbr-glossary].
If a tissue price shortens before the race, will my bet be matched at the shorter price?
Only if you placed your bet at that shorter price or took the bookmaker’s later displayed board price. A tissue quote is indicative; to get a changed price you must place a new bet or take the later price shown when you strike the wager [jc-jargon] [gbr-glossary].
Sources
- The Jockey Club: Get Past the Jargon — accessed
- Great British Racing: Jargon Buster — accessed
For education, not betting advice. No bet is guaranteed. Gamble responsibly.
Back to Racing Questions