What Does Vigorish Bet Mean In Sports Betting?
Vigorish, also known as “juice” or “vig,” is a betting term used in sports betting that refers to the commission that the bookmaker charges for placing a bet. It is usually expressed as a percentage of the total amount wagered. For example, if a bookmaker offers a bet with 10% vigorish, then the bettor will pay 10% of the total wager to the bookmaker.
Vigorish is important because it helps the bookmaker remain profitable, even when the bettor wins. It’s also important to understand that vigorish is not the same as the odds. The odds represent the likelihood of a certain outcome occurring, while the vigorish represents the commission that the bookmaker charges.
Vigorish can vary widely from one bookmaker to another. For example, some bookmakers may charge a higher vigorish for a particular sport or event than others. It’s important for bettors to shop around and compare different bookmakers to find the best deal.
In addition, it’s important to understand that vigorish can be a double-edged sword. While it can help bookmakers remain profitable, it can also reduce the amount of money that bettors can win. For this reason, it’s important to carefully consider the amount of vigorish that a bookmaker is charging before placing a bet.