Sports betting vig
What does vig mean in sports betting?
The vig (short for vigorish) in sports betting is the house edge. Though “house edge” is a more common term in the casino world, it gives us important context here. In sports betting, the vig is how a sportsbook makes money. Sports betting sites need to turn a profit, so they work a slight advantage into each bet.
What does 5% vig mean?
Poker. In pai gow poker, a 5% commission charged on all winning bets is referred to as vigorish. Unlike baccarat, the commission is paid after each winning bet, either by the player handing in the amount from his stack of chips, or by having the vig deducted from the winnings.
What does 8% vig mean?
The answer is simple. You pay for the bookmaker's services through what is known as juice, the cut, or the vig – short for vigorish, a term that comes from a Russian word meaning “winnings.” The industry standard for vig is 10 percent, which means that for every $1.10 you wager, you can take $1 in winnings.
Do you pay vig if you win?
Vig, or vigorish, is the cut or amount charged by a sportsbook for taking a bet, also known as juice in slang terms. The sportsbook only collects the vig if the bettor loses the wager. For example, a point spread is often listed with -110 odds. If the Eagles are -6.5 point favorites, that would be at -110 odds.
Why do bookies charge a vig?
Vig is short for vigorish, and the two terms are interchangeable. The amount of the vig is part of the odds for all bets. Essentially, the vig is the equivalent of a fee or commission that online sportsbooks charge. It helps to make sure that the book makes money regardless of how a game goes.
About Author
Erin Saylor oversees FootballBet's weekly PGA TOUR coverage. He has contributed as a writer to Action's coverage of the MLB, NBA, and Premier League. Theo, the name of Erin's dog, is a tribute to former Arsenal player Theo Walcott. Erin joined the Action Network staff in November 2018 after spending four seasons as a member of Major League Football's editorial staff. While contributing to most other sports on Action's website, he oversees FootballBet's coverage. Erin earned a degree in broadcast and electronic communication from Marquette University in 2015 along with a sociology minor. For the Marquette Tribune and WMUR, he covered the men's baseball and soccer teams at Marquette.