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What is the Vig in betting & how the Vig works?
In betting circles, you’ll often hear the word vig referenced by both bettors and sportsbooks alike. It’s short for vigorish, which is the amount of money that a betting site takes from each wager that is played at their online sportsbook.
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Commonly referred to as “the juice,” it is basically a fee charged for using the services of the betting house. The amount of the vig is folded directly into the betting line in every market.
Generally, the fee the vast majority of sportsbooks charge as a vig is 10 percent. Thus, when you see an NFL betting line where the Pittsburgh Steelers are listed at -110 and the Cincinnati Bengals are at +110, the 10 portion of each betting line accounts for the vig.
It’s why if a bettor were seeking a $100 profit on a wager on the Steelers, they’d be required to bet $110 because $10 of that stake is going directly to the bookmaker as a charge for facilitating the wager.
To attract customers as a promotional vehicle, some sportsbooks will offer reduced juice wagers. In these bets, the amount of the vig is lowered so that the bettor collects a higher percentage of the money they’ve wagered on a winning bet.