007JL Vig and Juice Betting, Worked Out in Pesos
The vig is the margin built into a set of odds.
| Fact | Value |
|---|---|
| 007JL Betslip, Line by Line | A betslip lists your selection, the market, the odds, your stake and the potential return. |
| 007JL Bookie and the Bookmaker Role Explained | A bookie sets odds on every outcome of an event, takes bets on all sides and adjusts prices to balance the book. |
| 007JL Hedge Betting | Hedge betting means placing a second bet on the opposite outcome of a bet you already hold, so the result is fixed whichever side wins. |
| 007JL Odds | Odds state how much comes back for a stake and, by the same number, how likely the book thinks the outcome is. |
| 007JL Player Props | Player props are bets on one player's own statistics, such as points, rebounds or assists, rather than the result of the game. |
| 007JL Over Under | An over under bet picks whether the combined total of a match lands above or below a set line. |
| 007JL What Is Handicap in Betting | A handicap adds or subtracts goals or points from one side before the bet is settled. +1.5 wins if your side loses by one or wins or draws; -1.5 wins only if your side wins by two or more. |
The vig is the price you pay for betting, and it hides inside the odds. You never see a line that says “vig”, yet every two-way market carries one. This page shows how to find it with one sum, using round numbers as examples. For the wider picture, see the betting overview.
What the vig is
A fair pair of odds on two equal sides would be 2.00 and 2.00, with implied chances of 50% and 50% adding to exactly 100%. Real pairs are shorter: 1.91 and 1.91 imply 52.4% each. The extra over 100% is the vig, kept by the bookmaker.
| Pair | Implied chances | Total | Vig |
|---|---|---|---|
| 2.00 and 2.00 | 50.0% + 50.0% | 100.0% | 0.0% |
| 1.91 and 1.91 | 52.4% + 52.4% | 104.7% | 4.7% |
| 1.80 and 2.10 | 55.6% + 47.6% | 103.2% | 3.2% |
How to work out the vig in a pair of odds
- Write both decimal prices. Example: 1.80 and 2.10.
- Divide 1 by each: 1 / 1.80 = 0.5556 and 1 / 2.10 = 0.4762.
- Add them: 0.5556 + 0.4762 = 1.0318.
- Subtract 1: 0.0318, so the vig is 3.2 points.
- For a share of the book, divide by the total: 0.0318 / 1.0318 is 3.1%.
For a three-way market at 2.40, 3.30 and 3.10: 0.4167 + 0.3030 + 0.3226 = 1.0423, a vig of 4.2 points.
Juice betting and the minus-110 line
Juice betting is the same thing in American odds. A line of -110 on both sides means you stake 110 to win 100. In decimal that is 1.909, which gives 52.4% on each side and the same 4.7-point margin as 1.91.
| American | Decimal | Implied chance |
|---|---|---|
| -110 | 1.909 | 52.4% |
| -105 | 1.952 | 51.2% |
| +100 | 2.000 | 50.0% |
A pair at -105 and -105 carries about 2.4 points of juice, against 4.7 at -110. The shorter the juice, the closer to fair.
What the vig costs you over many bets
The vig matters because it repeats. As an example, ₱100 on a 1.91 side wins ₱91 profit, and a fair 2.00 would pay ₱100. On an even-chance bet that is an expected cost of about ₱4.50 per ₱100 staked, and ₱450 over a hundred such bets of ₱100.
| Bets of ₱100 | Expected cost at 1.91 against fair 2.00 |
|---|---|
| 10 | ₱45 |
| 100 | ₱450 |
| 1,000 | ₱4,500 |
Lines for handicap bets and over under totals carry a vig just like a match winner does, so check the pair every time. The same idea in casino games is called the house edge meaning.
FAQ
What is the vig in betting?
The vig, short for vigorish and also called juice, is the margin a bookmaker builds into odds so that it earns money whichever side wins.
How do you calculate the vig on a pair of odds?
Work out 1 divided by each decimal price, add the two, and subtract 1. For 1.91 and 1.91 that is 0.5236 plus 0.5236 minus 1, which is 4.7%.
What is juice in betting?
Juice is another word for the vig. A bet at -110 on both sides carries juice, because staking 110 to win 100 prices each side below fair.
Is a lower vig better for the player?
Yes. A lower margin means a closer-to-fair price, so more of each winning return reaches you. Compare the vig of two prices before you choose.
Related guides
| Guide | What it covers |
|---|---|
| 007JL Betslip, Line by Line | betslip |
| 007JL Bookie and the Bookmaker Role Explained | bookie |
| 007JL Hedge Betting | hedge betting |
| 007JL Odds | odds |
| 007JL Player Props | player props |
| 007JL Over Under | over under |
| 007JL What Is Handicap in Betting | what is handicap in betting |