The Vigorish
The house or casino or sportsbook always has a built-in edge that they refuse to easily surrender. In sports betting a commission is automatically added. This commission is called the vigorish, shortened to the vig, also popularly called the juice.
The vig can vary for different type of bets (refer to the Bets section), but for our purposes, let's consider the most popular: the straight bet. In this type of bet, there is a 4.5% commission charged, translating to $11 bet for every $10 you hope to make. This is commonly called 11 to 10.
Below is an easy to follow chart listing the vig for common bets:
| Bet | Vig | To Win | Total Bet | Total Win Returned |
| | $10 | $1 | $10 | $11 | $21 |
| $20 | $2 | $20 | $22 | $42 |
| $50 | $5 | $50 | $55 | $105 |
| $100 | $10 | $100 | $110 | $210 |
| $200 | $20 | $200 | $220 | $420 |
| $250 | $25 | $250 | $275 | $525 |
| $500 | $50 | $500 | $550 | $1050 |
| $1000 | $100 | $1000 | $1100 | $2100 |
This 11-10 figure provides the bookies of Las Vegas with their built-in edge. There is a myth that with this edge, all the bookie needs to have is enough money bet on both sides of a contest and there will be a profit. Unfortunately, this almost never happens. One side is usually preferred by bettors over the other.
With the vig accounted for, this means that you need to win more than 50% of your games in order to break even. The figure is 52.8% or almost 53%. By winning one and losing one, you have lost money: the juice, or 4.5% of whatever you bet. In order to win money you need to win two and lose one (or better yet, win them all).
One historical note: the vig used to be 12-10 (6-5), or $12 for every $10 you bet until 1975, when it was reduced. There are a few places that still charge this, but not in Las Vegas.
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