What is Vigorish (Vig) in Sports Betting and Why Vig in Betting Matters

Vigorish in sports betting, commonly known as "vig" known as juice, is the fee charged by sportsbooks for accepting a wager. Understanding how vigorish works is crucial for anyone betting on sports. This article explains what vigorish is, how it impacts payouts and profitability, and why finding the lowest vig matters.

Knowing about the vig is an essential part of sports betting. While no one likes paying fees, the vig is how sportsbooks make their money. By calculating implied actual probabilities and comparing odds between different sportsbooks, savvy bettors can reduce the house edge and improve their chances of profiting. Let's dive into the nitty-gritty of how vigorish works in sports wagering.

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How Is Vigorish Calculated in Sports Betting?

In betting terminology, standard vig is usually -110 on both sides of a wager. This means a bettor must risk $110 to win $100 of potential profit. The extra $10 is the vigorish fee the sportsbook charges to place every bet.

Sportsbooks don't disclose the exact vig rate. But by comparing the odds and implied probabilities, bettors can calculate the vig they charge on a particular betting line. The total implied probability with vig often exceeds 100%, showing that the sportsbook takes a cut regardless of the outcome.

Why Do Sportsbooks Charge Vigorish?

Online sportsbooks are businesses aiming to profit. The vig is how they get paid for matching bettors together and guaranteeing payouts. Sportsbooks calculate potential outcomes on wagers and adjust odds and vig rates to ensure they collect enough fees to maintain profitability.

The vigorish gives the house an edge on every sports bet including NHL betting. Without collecting these fees, sportsbooks could not afford to operate due to the risk of potentially large payouts to winning bettors. Legal regulation also contributes costs to offering sports betting, increasing the need for the vig.

How Much is the Standard Vig Charged in Different Sports?

The amount of vig varies between sports and bet types but typically ranges from 4% to 6% on wagers. Here are standard vigs across popular betting options:

Point spread: -110 on both sides for 4.54% vig
Moneyline: Varies based on odds, up to 5% vig
Totals/over/under: -110 for 4.54% vig
Exotic bets: Higher vig, such as -125 for 7.4%

Savvy bettors check odds at multiple legal online sportsbooks to find reduced vig lines when available or calculate where the best value exists.

Why You Should Always Calculate the Vig in Betting

It’s essential to calculate vigorish because the fee impacts potential payouts on winning wagers. Remove the vig to see the actual odds and implied probabilities when comparing betting value between sportsbooks.

Consider a sportsbook line with odds of -110 on both teams in a game. The implied winning probability is 52.38% per side without vig. After vigorish, the total implied probability becomes 104.76%, meaning the sportsbook keeps 4.76% regardless of the game's outcome.

Any winning bet must overcome the average 4-6% vig charged to realize a profit. Bettors should factor the cost of vigorish into their required win rate math for any sports betting strategy. Finding reduced juice options decreases this expense of doing business with sportsbooks.

Shop Around for Lowest Vig Sportsbook

The regulated sports betting market continues expanding since PASPA was overturned. With more competition online, some sportsbooks offer reduced vig or discounts to attract action during slow periods. New bettors also find attractive low-vig welcome bonuses at many betting sites.

While standard vigs prevail, potential exceptions make line shopping worthwhile. Savvy bettors check odds across multiple online sportsbook to find the best price on their wagers. Small differences in vig add up significantly over higher betting volumes. Securing -105 reduced juice lines provides tremendous value whenever available.

How to Beat The Vig

The key to beating the sportsbooks' vigorish long-term is shopping lines and sports betting odds at various books. Compare odds and bet where the sports betting vig or "juice" is lowest. Watch for special reduced vig offers on certain wagers as promotions. When books post no vig odds, jump on that value. Those small savings per bet add up.

Avoid high vig bets like parlays and teasers in sports betting. If you must, bet small. Savvy bettors target half point improvements through vig shopping, gaining value on sports betting odds. Follow sharp money to find lower juice. Understanding implied probability helps assess vig levels. Do the work to uncover reduced vig options. That edge beats the house take over time.

Is It Possible to Remove the Vig When Betting on Sports

While some bettors look for ways to try to reduce or eliminate the vig (short for vigorish), this is very difficult if not impossible to do consistently. Sportsbooks need to charge this fee to operate profitably.

Some methods like betting exchanges or reduced juice sportsbooks can lower the vig slightly. But it's unrealistic to expect to remove it entirely. The best approach is to shop for books with lower vigs, bet selectively, and try to offset it by being a sharper bettor overall. But the sportsbook's edge from the vig is a cost of betting that can't be circumvented.

In Summary: Key Points to Remember About Vigorish

In any type of betting, fees impact profitability. For sports bettors, calculating vigorish and understanding the vig is vital to success:

- Vigorish, or vig, is the fee sportsbooks charge on losing and winning wagers

- Standard vig across most bet types is -110, equal to 4.55% per bet

- Compare odds and implied probabilities to calculate vig per line

- Reduce expenses by finding lower vig lines via sportsbook comparison

- Calculate expected value with and without vig to determine optimal wagers

While nobody loves paying fees, sportsbooks require some vigorish to operate. However, slight differences in vig between sports betting sites can steer informed bettors toward maximum value. Calculation and line shopping remain vital steps to trimming the house edge and boosting potential profits.

I (AKA CatBurg) have a lifelong passion for sports, especially football and basketball. I enjoy the thrill and excitement of sports betting and everything in between. My teams are (Packers #GoPackGo) and who I am betting on!