Gambling terms, explained straight

In American English, vig can also mean loan-shark interest, but in sports betting it refers to the bookmaker's commission or margin.

Sports Betting

Vig betting

Vig betting is not a distinct wager type; the term refers to the bookmaker's built-in commission on any bet, expressed as a margin in the odds.

Also called
vigorish, juice, house edge, margin, take, hold
Applies to
Fixed-odds betting and bookmaker-priced markets
How it works
Bookmaker sets odds so implied probabilities exceed 100%, creating a built-in margin37
Common size
One academic source observes a 10% vig as a market pattern, not a universal standard7

Key points

  • Vig is the bookmaker's commission earned through pricing both sides of a wager, not a separate fee shown to the bettor.17
  • The relevant measure is the overround: the amount by which the book exceeds 100%, representing expected profit.3
  • Vig applies to both pregame and live betting odds; it is not a bet format itself.46
  • In parimutuel betting, a pool's takeout (vig) is deducted before winnings are shared, but no single percentage is fixed.25

Example of vig in a two-way market

A bookmaker offers odds of 1.91 on both Team A and Team B in a match with no draw. The implied probability of each outcome is 52.4% (1 ÷ 1.91), totalling 104.8%. The extra 4.8% above 100% is the overround — the bookmaker's expected profit margin, or vig. A bettor who stakes £10 on Team A at 1.91 receives £19.10 if they win, but the true fair odds (without vig) would be 2.00.

Where this term is used

Not the same as

  • Live betting — live betting is wagering while an event is in progress; vig is the bookmaker's margin that can apply to both live and pregame odds
  • Vig meaning — vig meaning covers the broader term including loan-shark interest; in sports betting it specifically means the bookmaker's commission
Sports betting Spread betting A form of betting where the payout depends on the margin of victory, not just the winner. Sports betting Moneyline betting A straight bet on which side will win, with odds that include the bookmaker's vig. Sports betting Vigorish betting An alternative name for the same concept: the bookmaker's commission or margin. Sports betting Handicap betting A bet where one side is given a virtual advantage or disadvantage to even the odds. Sports betting Cash out betting A feature allowing a bettor to settle a bet early for a reduced payout, often adjusted for the bookmaker's vig. Sports betting No vig sportsbook A sportsbook that offers odds without a built-in margin, typically funded by a subscription or other model.

Sources

  1. Vigorish en.wikipedia.org Defines vigorish as the bookmaker's commission in sports betting.
  2. Betting pool en.wikipedia.org Explains takeout in parimutuel betting as a form of vig.
  3. Mathematics of bookmaking en.wikipedia.org Describes the mathematics of overround and how vig is built into odds.
  4. Fixed-odds betting - Wikipedia en.wikipedia.org Covers fixed-odds betting and how vig applies to pregame and live odds.
  5. Parimutuel betting en.wikipedia.org Details parimutuel betting and the deduction of takeout before winnings.
  6. Sports betting - Wikipedia en.wikipedia.org Provides general context for vig in sports betting markets.
  7. How Do Markets Function? An Empirical Analysis of ... nber.org Offers an academic observation of a 10% vig as a market pattern.

Sources are drawn from regulators, universities and published research, and each one is labelled with what it actually is — a preprint is not called a paper. Bookmaker and affiliate pages are never cited here, because a page that sells betting is not a neutral authority on it.

Written and maintained by Ellis Warrender, writer and maintainer.

Last updated 28 July 2026. Spotted an error? Tell me and it gets fixed and logged on the corrections page.