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.
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Yes. Delaware was the first state in the country other than Nevada to legalize sports betting in June 2018.
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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.
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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...