The significance of vig, or “vigorish,” in betting cannot be overstated. It represents the house edge, ensuring bookmakers make a profit regardless of the game’s outcome. Understanding this concept is crucial for bettors aiming to make educated decisions.
What is Vig?
Vig is the commission charged by the bookmaker for accepting a bet. It’s typically included in the odds and can significantly impact your potential returns.
How Vig Affects Betting
- Reduces Payouts: The presence of vig means that payouts are slightly reduced, as the bookmaker takes a cut.
- Betting Odds: Adjusted to reflect the vig, making it vital to compare odds across different platforms.
- Long-term Impact: Regularly placing bets without accounting for vig can lead to significant losses over time.
Calculating Vig
To calculate vig, add the implied probabilities of both outcomes and subtract 100%. For instance, if two outcomes are 53% and 49%, the total is 102%, hence a 2% vig.
Understanding vig helps bettors make more informed choices and recognize the true cost of their bets.
