What is the vig in sports betting?
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Last Updated: Apr 28, 2020
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Fact Checked By:
Adam Zdroik
Vig, or vigorish, is the cut or amount charged by a sportsbook for taking a bet, also known as juice in slang terms. The sportsbook only collects the vig if the bettor loses the wager.
For example, a point spread is often listed with -110 odds. If the Eagles are -6.5 point favorites, that would be at -110 odds. If there was no vig, it would be at even odds, or +100. With the vig, a $100 bet would result in a $190 payout. If there was no vig, a $100 bet would result in a $200 payout. This simply means if you want to win $100, you'd have to bet $110 because of the vig and when the bet loses, that $10 goes straight to the sportsbook.
Of course, not all sportsbooks are the same and sometimes regular odds are listed at -115 or -120. As more states legalize sports betting, the variety in vigs across states will be a talking point. That's because a lot of in-person sportsbooks take a higher cut of bets than online sportsbooks, who receive more bets because they are more widely accessible. While each state has different rules, there are certain states where sportsbooks have a higher vig across the board, no matter where you wager.
There are also situations where -110 odds would push to -120 or higher because that bet is getting a lot of money. If a lot of people are betting the Eagles at -6.5 (public money) and the sportsbook doesn't want to move that number to -7, they'll push the odds to -120 or -130, meaning a $100 bet would result in an even smaller payout.
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Yes. Sports betting will launch in late 2023 or early 2024 in Kentucky.
No. Sports betting is not legal in Oklahoma and that doesn't appear close to changing.
Yes. Sports betting was legalized in Arkansas in 2018 and launched at physical locations a year later.
Yes. Delaware was the first state in the country other than Nevada to legalize sports betting in June 2018.
Yes. Sports betting was legalized in 2019 and officially launched March 2020 through Montana Lottery.
Yes. Sports betting is legal in New Hampshire but only online through DraftKings Sportsbook.
Yes. Sports betting is legal in Oregon and can be done through the state lottery.
Yes. Sports betting is legal online and at two physical sportsbooks in Rhode Island.
Yes. West Virginia passed a law to legalize and regulate sports betting in 2018 prior to the ending of PASPA.
No. Sports betting is not legal in Utah and may be one of the last states to legalize it if it does happen at all.
No. While sports betting bills have been introduced in South Carolina throughout the years, none of them have been close to getting approval.
No. Sports betting in North Dakota remains illegal after two bills didn't make it through legislature in 2019.
No. While lawmakers have proposed changes to the sports betting bill every year, Native American tribes have yet to change their stance.
No. Maine's governor vetoed a sports betting bill in early 2020 and while the Senate and House tried to overturn it, they didn't succeed.
No. Sports betting is not legal in Nebraska and while there are bills in the works to change that, it is a long way from happening in 2020.
No. Sports betting is prohibited in Georgia and the future is unclear for legalization.
An underdog is the team or individual expected to lose a particular event.
A favorite is the team or individual expected to win a particular event.
If you've never bet before, there are surely a lot of words and phrases you've never heard before and even if you have bet before, you may not know...
