A "vig," short for "vigorish," is the fee or commission charged by a bookmaker or sportsbook for accepting a gambler's wager. It is also known as the cut, juice, house edge, margin, or take
. The vig ensures that the bookmaker or sportsbook makes a profit regardless of the outcome of the event, as it is built into the odds offered to bettors
. In practical terms, the vig means bettors do not get paid true even money on their bets. For example, in a typical point spread bet with -110 odds on both sides, a bettor must wager $110 to win $100. The extra $10 is the vig, which the sportsbook keeps if the bet loses
. This translates to about a 4.76% fee on the total amount wagered in such cases
. The vig is essential for sportsbooks as it covers their risk and operational costs, allowing them to profit over time even if the betting action is balanced on both sides of a wager
. It also means that bettors must win more than 50% of their bets to break even, often around 52.38% when the vig is -110 on both sides
. In summary, the vig is the bookmaker's built-in advantage or fee for taking bets, ensuring they profit regardless of event outcomes
