What does vig mean in sports betting

The Meaning of Vig in Sports Betting

As we delve into the intricate world of sports betting, one term that often confuses many bettors is "vig," short for vigorish. In the realm of wagering, understanding vig is crucial for making informed decisions and maximizing potential profits.

So, what exactly does vig mean in sports betting? In simple terms, vig represents the sportsbook's commission or fee for facilitating bets. It is a built-in mechanism that ensures the bookmaker makes a profit regardless of the outcome of a particular wager.

Essentially, vig is the price you pay for placing a bet. When you see odds displayed by a sportsbook, they are adjusted to include this commission. The standard vig is typically included in the odds themselves, making it essential to grasp its impact on your potential returns.

For example, consider a typical moneyline bet expressed as -110. This indicates that you must wager $110 to win $100. The additional $10 represents the vig, ensuring the sportsbook earns its commission.

Understanding vig is crucial for bettors aiming to make profitable decisions. By factoring in the vig, you can gauge the true value of a bet and assess whether the odds offered by the sportsbook are favorable.

How is vig calculated? You can use an online handicapping calculator to figure the juice, or you can do it yourself via the following steps:

• Translate the odds into implied probability. ...
• Add the implied probability on both sides together.
• Subtract 100 to get the vig.

How do you bet and not lose money? Hedging bets is by far the most successful betting strategy. This is where you're able to place multiple bets to cover all possible results and still make a profit regardless of the outcome of the game.

What does 5% vig mean? It means the sportsbook is taking a house edge of 5% on its betting lines. That is essentially the sportsbook's fee for taking the bet, allowing it to earn a profit. The vig meaning simply refers to the margin the sportsbook takes on its lines.

What is a good vig? The standard vig on a spread wager is -110 on both sides, meaning that each side will have to pay 10 cents of juice. That said, that's not always the case. You'll often see one side juiced to -115 and the other at -105, and occasionally, one side will even be -120 with the other as high as +100.

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