What Does Juice or Vig Mean in Sports Betting?

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If you’re a novice in sports betting, you may have come across the terms “vig” or “juice” being mentioned.

In sports betting, the terms “juice” and “vig” are used interchangeably to refer to the amount of profit the house earns from your wager. Continue reading to gain a deeper understanding of how the juice operates in sports betting and its implications for your overall winnings.

What is “the juice” in sports betting?

In sports betting, the juice plays a crucial role in ensuring the house’s advantage. Also known as the “vig,” it represents the portion of each bet that the sportsbook retains as profit. Since casinos and sportsbooks aim to make money, they must take a cut to sustain their operations, regardless of whether you come out victorious.

The slang term “juice” refers to vigorish, which is defined as the fee collected by bookies or gambling houses on bets.

How does juice impact your winnings?

The significance of the vig in sports betting lies in its role of determining the amount you will receive upon winning your bet.

The typical odds for most bets are -110, meaning that if you place a $1 bet and win, you will receive $1.91 in total (including your initial bet of $1 and winnings of 91 cents). It’s important to note that you don’t receive $2 because of the vig, which is the commission taken by the sportsbook. The sportsbook keeps those nine cents as their fee for facilitating your bet.

When considering the vig, it is crucial to keep in mind that it will affect your winnings. If the vig is higher, your take-home amount will be reduced in case of a win.

How is the vig set?

Typically, the majority of sportsbooks adopt the standard vig of -110 for point spreads. Initially, both sides of the bet will generally have the same odds when the lines are initially published. However, as bettors begin placing wagers, the sportsbooks often make adjustments to those odds.

In order to safeguard their financial interests, bookmakers may alter the sports gambling odds when a considerable number of bettors favor the favorite. It is essential to remember that bookmakers are driven by the desire to maximize profits and ensure long-term financial stability.

How does the vig work for the main bet types?

The juice, also known as the vig, differs for each bet and is dependent on the bet type. It further varies based on the sport, as not all sports offer the same types of bets.

The vigorish for spreads and totals typically stands at around -110. Nevertheless, the vigorish for moneylines can vary significantly based on the odds provided for the game.

In situations where the teams are closely matched, the odds may hover around -110, with one side at -105 and the other at -115. However, if there is a clear favorite and the spread is not as close, the odds could reach -400 or even higher. On the other hand, underdogs with minimal chances of winning might have odds of +500 or even greater.

The importance of reduced juice at sportsbooks

Line shopping is crucial for high-volume bettors due to the variation in vigs offered by different sportsbooks.

It is crucial to assess various sportsbooks and their offerings when considering spreads and totals, but particularly important when it comes to the moneyline due to the significant variation in odds. When selecting a betting platform, take into account the vigs and potential payouts offered by different live and MA online sportsbooks.

Is the juice higher or lower on certain bets?

To provide a notable example, the juice typically tends to be higher on futures bets.

The sum of probabilities for all potential outcomes is known as odds. In the context of betting on the World Series winner, there are 30 teams in the running. Hence, the sportsbooks need to determine the probability of each of the 30 teams winning.

Which sportsbooks have the lowest juice?

Certain sportsbooks provide reduced juice and offer the lowest vigorish, which may include:

To find sportsbooks with the lowest juice, it is crucial to recognize the significance of competition. In states where several sportsbooks operate, the juice typically decreases. These sportsbooks engage in fierce competition to allure the highest number of bettors, prompting them to reduce their juice.

Sportsbooks operated by a lottery commission can experience a rapid increase in juice. In Washington DC, for instance, GamBetDC imposes exorbitant vig charges. It is not unusual to come across -118/125 splits for NFL spreads and totals. Similarly, basketball games often have -105/-112 lines.

When considering vig, it is crucial to shop for the finest lines. For instance, we can examine a recent basketball game listed on DraftKings.

Boston Celtics -9.5 (-110) Over 224.5 (-105) -425
Sacramento Kings +9.5 (-110) Under 224.5 (-115) +320

The identical line can be found on FanDuel.

Boston Celtics -9.5 (-110) Over 224.5 (-110) -430
Sacramento Kings +9.5 (-110) Under 224.5 (-110) +340

If you have multiple betting options in your state, line shopping can help you counterbalance the juice. By believing that the score will exceed expectations, DraftKings offers a more advantageous deal. However, if you have confidence in the Kings causing an upset, FanDuel provides a more favorable moneyline.

Can you avoid paying the juice in sports betting?

Regrettably, evading the payment of vig or juice is not possible. However, you have the option to discover a book that imposes a lower vig or provides reduced juice.

How do you beat the juice?

To achieve a break-even point, it is necessary to win 52.38 percent of your bets, considering the standard odds of -110. However, if you aim to make a profit, you will need an even higher winning percentage. Additionally, when placing bets with different odds, the required percentage of wins to break even or generate profits increases even further.

  • -105/-105: 51.22%
  • -110/-110: 52.38%
  • -115/-115: 53.49%
  • -120/-120: 54.45%
  • -125/-125: 55.56%

As previously stated, it is a well-known fact that the house consistently emerges victorious. Proficient sports bettors engage in line comparisons across various sportsbooks, possess a deep understanding of mathematical models, statistics, and are skilled in analyzing long-term trends.

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