What Does Vig Bet Mean In Sports Betting?
You may have heard of vig as a term for “house edge,” but it’s actually a way to ensure that you’ll make a profit when you place a bet. In sports betting, the vig is a built-in service charge to protect the sportsbook against losses.
The best way to calculate vig is by dividing the odds by the percentage of the probability that the bet is likely to succeed. The more money you bet on the underdog, the less the vig will be. When you’re comparing vig in betting, you’ll want to search for the lowest vig possible with each bet.