Vig (juice)
What does "vig (juice)" mean in sports betting?
The vig, also called juice or the hold, is the commission a sportsbook builds into its prices so it profits no matter which side wins.
If a game were a true coin flip, a fair price on each side would be +100: risk $100 to win $100. Instead, books usually price both sides at -110. You risk $110 to win $100, and that extra $10 is the vig.
Add the implied probabilities of both sides and you get more than 100%. At -110 on both sides, each side implies 52.38%, for a total of 104.76%. The extra 4.76% is the book's built-in edge, and it works out to the book keeping about 4.55% of all the money bet on that game when the action is balanced.
The vig is why winning half your bets still loses money, and why shopping for a better price matters. Moving from -110 to -105 lowers the win rate you need from 52.4% to 51.2%.
Example
Two people bet the same game, one on each side, $110 each at -110. The book takes in $220 and pays the winner $210 (their $110 back plus $100 profit). It keeps $10, which is 4.55% of the $220 bet.
Related terms
Moneyline
A moneyline bet is a wager on which team or fighter wins outright, with no point spread involved.
Implied probability
Implied probability is the win chance a price suggests. It turns odds into a percentage so you can compare them with your own estimate.
American odds
American odds show how much you risk to win $100 (minus numbers) or how much you win on a $100 bet (plus numbers).
Expected value (EV)
Expected value (EV) is the average amount a bet would win or lose per play if you could make it many times. Positive EV (+EV) means the price is better than the true chance.
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