Vigorish, in plain words
Vig, short for vigorish and also called juice, is the margin a sportsbook builds into its prices. The book does not charge a fee at the window. It charges by paying you a little less than a fair price on every side of the market, so the sides add up to more than 100%.
The common price on spreads and totals is −110 on both sides. Each side implies 52.38%, so the two add up to 104.76%. The extra 4.76% is the overround. If the book took equal money on both sides it would keep 4.55% of everything bet, whoever wins. That figure is the hold.
You cannot avoid vig, but you can pay less of it. Some books price the same market at a lower hold, and some markets carry more vig than others: props and parlays usually carry more than main-game sides. Shopping the same bet across books, and choosing markets where the two sides add up to less, is the cheapest edge in betting.
The idea, drawn
Worked example · illustration
A market at −110 / −110
- Over
- −110
- Under
- −110
- Sides add to
- 104.76%
- Hold
- 4.55%
- −110 implies 110 / 210 = 52.38% for each side.
- Both sides together: 52.38% + 52.38% = 104.76%.
- Hold = 4.76% / 104.76% = 4.55% of balanced action.
On $1,000 bet evenly on both sides, the book expects to keep about $45.45.