what does vig mean in gambling
What Does Vig Mean in Gambling?Vig is a term used in gambling, short for vigorish or vigor, and it essentially represents the house edge or the commission that a bookmaker or casino takes on every bet placed. Its the percentage they charge to facilitate the bet, ensuring they profit regardless of who wins.Imagine a football game where you bet 100 on your team to win. If the odds are even, youd expect to get 200 back if your team wins. However, the bookmaker might take a 10 vig, meaning youd only receive 190 if you win. This 10 is the vig, the bookmakers cut of the action.Heres a breakdown of how vig works: Its built into the odds: The odds displayed by bookmakers already factor in the vig. Its not always a fixed percentage: The vig can vary depending on the sport, the bet type, and the bookmaker. Its a way for bookmakers to guarantee profit: Regardless of the outcome, the bookmaker always makes money from the vig.In essence, vig is the cost of doing business in the gambling world. Its the fee you pay for the privilege of placing a bet and hoping for a win. Understanding vig is crucial for making informed betting decisions and maximizing your potential profits.