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What is the VIG in betting

FAQ
Q: What is the VIG definition?

Vigorish is the fee amount charged by a bookmaker for accepting a bet. The word’s origin probably comes from Russian “Vyigrysh” or Ukrainian “Vygrash,” where local bettors use this term to define the winnings.

Q: Are there other words for VIG?

There are several ways to describe the vigorish. English bookies prefer to cut the word down to VIG, while Americans use the verbal terms “juice,” “cut,” or “take.” In bookie slang language, there are different words, including the “shark’s loan,” “margin,” “commission,” “edge,” and “percentage.”

Q: Why does the VIG in betting exist?

VIG betting is a term used to describe the bookmakers’ commission on every placed bet. It isn’t a specific type of wager or a particular strategy. It’s essential to secure the bookies’ profit and explains how the odds change before an event starts.

Q: What is the importance of VIG betting?

The higher the Vigorish, the lower your profits. That is often ignored by players who occasionally get lured by high odds on risky markets. The rates and yields play a significant role in accomplishing long-term earnings and should always be considered before placing a bet.

Q: What is the difference between payout and VIG?

The payout percentage reflects a bettors’ ratio returns on all possible outcomes of a sporting event, while the VIG is the bookies’ commission. If you cumulate the implied odds and percentages of all probable results of a sporting event, you should find a percentage between 100% and 110% that includes the bettors’ payout and the VIG.

Q: How do odds changing affect the Vigorish?

Bookmakers have different ways of adjusting the odds. Depending on how much money every outcome attracts, some start changing the odds after the first placed bets. They will consequently lower the odds on the specific outcome to make it less attractive to players and will instead raise odds on the others in order to balance the total amount of bets. Every change has an immediate effect on the VIG.

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