In sports betting, vigorish, “vig”, or “juice” often confuses most betting enthusiasts, whether beginners or pros. This is because for those who know what juice is, knowing how it is calculated is more challenging.
At NXTBets, we understand the importance of unpacking the intricate betting landscape beyond the most explored areas. Knowing the basics and advanced aspects of betting can help you make informed decisions and bet responsibly.
Have you noticed that you don’t always double your money even when you win? This is because of the vigorish or juice the sportsbook charges for a bet. It’s what the sportsbook gets for accepting a bet. Let’s explore this aspect further!
What is Juice or Vigorish?
Vig, vigorish, or juice is a commission or fee charged by online sportsbooks to ensure that they earn something no matter the outcome of the bet. So, the sportsbook will charge you a fee or commission, whether you lose or win. This makes it have a direct impact on your profits as a bettor.
If you are wondering whether all sportsbooks charge vig, the simple answer is yes, all of them do. Remember, sportsbooks are profit-oriented business entities that are not in the game to lose money. Charging juice is how they ensure they do not lose money. This gives them an advantage over you, an average bettor, who would have to suffer the long-term impacts of vig to get some profit.
The juice is part of the odds for all wagers. The amount varies from one sportsbook to another. Sometimes, how much the sportsbook charged you for juice may not be apparent. You have to be keen and keep records of your bets to determine. So, how does it work?
Here's How it Works
Odds with juice: You won’t see a direct “fee” added to your bet. Instead, the juice is incorporated into the odds themselves. For example, instead of showing odds of 2:1 (meaning you win $2 for every $1 you bet), a sportsbook might offer -110 odds. This means you need to bet $110 to win $100. The extra $10 goes to the sportsbook, regardless of who wins the bet.
How it guarantees profit: No matter which side wins more bets (favorites or underdogs), the sportsbook keeps the juice from losing bets. This ensures they make a profit even if they payout on winning bets.
Impact on winnings: Juice reduces your potential winnings compared to true odds. In the -110 example, you only win $90.91 in profit for every $100 you bet (after accounting for the $10 juice).
Industry-standard: The most common juice amount is -110, also known as a “dime line.” However, it can vary depending on the sport, event, and even the specific sportsbook.
Here Are Some Key Points to Remember About Juice
Always consider the juice when evaluating potential bets. Don’t just focus on the headline payout without factoring in the cost.
Sharps, or experienced bettors, often “shop for lines” to find sportsbooks with lower juice on their desired bets.
Understanding juice is crucial for informed betting and managing your bankroll.
Remember, gambling responsibly is key. Only bet what you can afford to lose and focus on the entertainment value, not the potential for riches.
How is Juice Calculated?
The complexity of calculating juice depends on the nature of the odds. Where the odds from all parties are the same, the calculation is much simpler than when the bets are different. Generally, to calculate the juice, you must determine the implied probability of every side of the bet, add these implied probabilities, and then subtract 100. You may calculate the vig yourself or use an online handicapping calculator. Here’s how you can estimate the vigorish by yourself.
Step 1: Translate the Odds into Implied Probability
For positive odds, 100/ (odds value +100) gives you the implied probability.
For negative odds, absolute odds value/ (absolute odds value +100) gives you the implied probability.
Step 2: Add the implied probabilities from every side.
Step 3: Minus 100 to get the juice.
Illustrations
Let’s use a moneyline split of -160/+140
a) Implied probability at -160
160/ (160+100) = 61.54%
b) Implied Probability at +140
100/ (140+100) = 41.67%
c) Implied Probability Results
61.54% + 41.67% = 103.21%
103.21% – 100% = 3.21%
In this case, the juice is 3.21%.
But you can also calculate the vigorish directly from the odds. Let’s see:
The Formula: (Favorite odds/ (favorite odds+100) ×100) + (100/ (underdog odds + 100) ×100) – 100 = juice
When it is two-sided bets, the formulas above are useful, but calculating the vig may be more complex for a bet with multiple options.
The Role of Juice in Sports Betting
We have already indicated that the vig helps ensure that the sportsbook “wins” no matter the outcome of the bet. So, it benefits the sportsbook and disadvantages you as a bettor. Let’s explore further:
How Vigorish Impacts Bettors' Profits
Generally, the juice raises the break-even point, making it more difficult to profit from sports betting. You have probably realized that it normally costs you $110 to win $100 on a standard bet. Where does the $10 go? That’s the vig that sportsbooks charge.
With such a scenario, even winning 50% of all your sports bets will not give you more money. You will have lost. If the vig did not exist, 50% wins would be the break-even point, meaning that if you win over 50% of your sports bets, you will have an inflow of profits.
The standard vig for a bet is normally -110. With this rate, you must win 52.38% of your bets to get profits. The extra 2.38% is half the juice. Let’s consider various odds:
Odds
Juice Rates
Potenital Profits
+100
50%
$100
-102
50.5%
$98.04
-105
51.21%
$95.24
-108
51.92%
$92.59
-110
52.38%
$90.91
-112
52.83%
$89.29
-115
53.48%
$86.98
-118
54.13%
$84.75
-120
54.54%
$83.33
-125
55.55%
$80
Comparing Juice Across Sportsbooks
Line shopping is one of the best ways to compare juice across sportsbooks. -102 and -110 are not the same as -105 and -115. Although the difference may seem insignificant for a single bet, you will feel the impact in the long term, especially if you bet larger amounts of money. So, before placing your bet, shop around various sportsbooks to find the best possible odds for your preference.
Also, remember to make a quick calculation of the vig from the odds before deciding. First, determine the implied probability, then calculate the vig. Although you can estimate the juice manually, you don’t have to; just key in the odds in an online handicapping calculator, and it will give you the vig.
Strategies to Mitigate the Impact of Juice
All sportsbooks charge vigorish, and there is no way you can do away with them completely. But there are strategies you could utilize to mitigate the impact of the vig. Consider the following:
Take your chances when the underdog is closer to the favorite bet. If you see a bet with the favorite way higher than the underdog, you should step back; that’s a probable red flag, meaning the sportsbook is charging more vig.
Another effective strategy is keeping track of the market movements. Staying informed on how odds change and vary can offer insights into where the public places their bets. Anticipating line movements and detecting discrepancies can help you secure better and more favorable odds before they adjust. This can give you a strategic advantage in online sports betting.
Take action during the no juice promos. Sometimes, sportsbooks give juice promos with 50/50 bets at +100. Sportsbooks may also provide reduced vigs to their users, for instance, by lowering the spread odds from, say, -120 to -108. If such reduced juices align with your preferences, you can bet.
Look out for odds boosts and other promotions. These can alter the juice positively, increasing your chances of winning higher profits by boosting your bottom line.
You may also want to avoid parlays. Most sportsbooks charge more juice for parlays and get two to three times more profits.
Conclusion
Understanding and effectively managing vigorish is crucial for any bettor looking to maximize their profits. The juice raises the break-even point, significantly impacting your wins. This is why you cannot overlook the vig while betting online on sports. Although all sportsbooks charge juice, savvy bettors can navigate through mitigating the impact by line shopping, improving their percentages, and taking advantage of promotions and reduced vigs.
At NXTBets, we remain committed to providing invaluable insights into the betting landscape. We advocate for responsible betting by offering resources to help users make informed decisions. Be vigilant! Stay informed of the various ways to counter vigorish and the odds variations in the market.
As NXTBets, we emphasize responsible gambling by offering comprehensive insights into various aspects of betting. We provide our users with adequate information on vigorish, enabling them to understand and mitigate its impacts.
NXTBets provides valuable vig revenue data and insights into how they affect sports betting outcomes in the general market. Our users can access our resources on average juice, enabling them to make informed decisions when assessing potential bets across various sportsbooks.
Yes. As a user, you can adjust your bet depending on the available information. Reduced vigs, promotions, and line shopping can help you make informed choices when adjusting bets based on vigorish.
“Juice” or Vigorish in Sports Betting Explained
Table of Contents
In sports betting, vigorish, “vig”, or “juice” often confuses most betting enthusiasts, whether beginners or pros. This is because for those who know what juice is, knowing how it is calculated is more challenging.
At NXTBets, we understand the importance of unpacking the intricate betting landscape beyond the most explored areas. Knowing the basics and advanced aspects of betting can help you make informed decisions and bet responsibly.
Have you noticed that you don’t always double your money even when you win? This is because of the vigorish or juice the sportsbook charges for a bet. It’s what the sportsbook gets for accepting a bet. Let’s explore this aspect further!
What is Juice or Vigorish?
Vig, vigorish, or juice is a commission or fee charged by online sportsbooks to ensure that they earn something no matter the outcome of the bet. So, the sportsbook will charge you a fee or commission, whether you lose or win. This makes it have a direct impact on your profits as a bettor.
If you are wondering whether all sportsbooks charge vig, the simple answer is yes, all of them do. Remember, sportsbooks are profit-oriented business entities that are not in the game to lose money. Charging juice is how they ensure they do not lose money. This gives them an advantage over you, an average bettor, who would have to suffer the long-term impacts of vig to get some profit.
The juice is part of the odds for all wagers. The amount varies from one sportsbook to another. Sometimes, how much the sportsbook charged you for juice may not be apparent. You have to be keen and keep records of your bets to determine. So, how does it work?
Here's How it Works
Here Are Some Key Points to Remember About Juice
How is Juice Calculated?
The complexity of calculating juice depends on the nature of the odds. Where the odds from all parties are the same, the calculation is much simpler than when the bets are different. Generally, to calculate the juice, you must determine the implied probability of every side of the bet, add these implied probabilities, and then subtract 100. You may calculate the vig yourself or use an online handicapping calculator. Here’s how you can estimate the vigorish by yourself.
Step 1: Translate the Odds into Implied Probability
Step 2: Add the implied probabilities from every side.
Step 3: Minus 100 to get the juice.
Illustrations
Let’s use a moneyline split of -160/+140
a) Implied probability at -160
b) Implied Probability at +140
c) Implied Probability Results
In this case, the juice is 3.21%.
But you can also calculate the vigorish directly from the odds. Let’s see:
The Formula: (Favorite odds/ (favorite odds+100) ×100) + (100/ (underdog odds + 100) ×100) – 100 = juice
So, let’s work with the odds of -160 and +140
When it is two-sided bets, the formulas above are useful, but calculating the vig may be more complex for a bet with multiple options.
The Role of Juice in Sports Betting
We have already indicated that the vig helps ensure that the sportsbook “wins” no matter the outcome of the bet. So, it benefits the sportsbook and disadvantages you as a bettor. Let’s explore further:
How Vigorish Impacts Bettors' Profits
Generally, the juice raises the break-even point, making it more difficult to profit from sports betting. You have probably realized that it normally costs you $110 to win $100 on a standard bet. Where does the $10 go? That’s the vig that sportsbooks charge.
With such a scenario, even winning 50% of all your sports bets will not give you more money. You will have lost. If the vig did not exist, 50% wins would be the break-even point, meaning that if you win over 50% of your sports bets, you will have an inflow of profits.
The standard vig for a bet is normally -110. With this rate, you must win 52.38% of your bets to get profits. The extra 2.38% is half the juice. Let’s consider various odds:
Odds
Juice Rates
Potenital Profits
+100
50%
$100
-102
50.5%
$98.04
-105
51.21%
$95.24
-108
51.92%
$92.59
-110
52.38%
$90.91
-112
52.83%
$89.29
-115
53.48%
$86.98
-118
54.13%
$84.75
-120
54.54%
$83.33
-125
55.55%
$80
Comparing Juice Across Sportsbooks
Line shopping is one of the best ways to compare juice across sportsbooks. -102 and -110 are not the same as -105 and -115. Although the difference may seem insignificant for a single bet, you will feel the impact in the long term, especially if you bet larger amounts of money. So, before placing your bet, shop around various sportsbooks to find the best possible odds for your preference.
Also, remember to make a quick calculation of the vig from the odds before deciding. First, determine the implied probability, then calculate the vig. Although you can estimate the juice manually, you don’t have to; just key in the odds in an online handicapping calculator, and it will give you the vig.
Strategies to Mitigate the Impact of Juice
All sportsbooks charge vigorish, and there is no way you can do away with them completely. But there are strategies you could utilize to mitigate the impact of the vig. Consider the following:
Conclusion
Understanding and effectively managing vigorish is crucial for any bettor looking to maximize their profits. The juice raises the break-even point, significantly impacting your wins. This is why you cannot overlook the vig while betting online on sports. Although all sportsbooks charge juice, savvy bettors can navigate through mitigating the impact by line shopping, improving their percentages, and taking advantage of promotions and reduced vigs.
At NXTBets, we remain committed to providing invaluable insights into the betting landscape. We advocate for responsible betting by offering resources to help users make informed decisions. Be vigilant! Stay informed of the various ways to counter vigorish and the odds variations in the market.
Frequently Asked Questions
As NXTBets, we emphasize responsible gambling by offering comprehensive insights into various aspects of betting. We provide our users with adequate information on vigorish, enabling them to understand and mitigate its impacts.
NXTBets provides valuable vig revenue data and insights into how they affect sports betting outcomes in the general market. Our users can access our resources on average juice, enabling them to make informed decisions when assessing potential bets across various sportsbooks.
It is important to note that the vig varies between sportsbooks. However, the standard vig for most sportsbooks is 2.38%.
Yes. As a user, you can adjust your bet depending on the available information. Reduced vigs, promotions, and line shopping can help you make informed choices when adjusting bets based on vigorish.
NXTBets provides users with the relevant information to help them calculate effective payout after considering vig.
Please refer to Affiliated Operators’ T&C. Void where prohibited. Gambling problem? Call 1-800-GAMBLER