• Juice Betting Terms
• Juice Betting Term
• No Juice Betting

When you place a bet at a sportsbook, the operator is going to make a profit. How do we know that for certain?

It’s thanks to what’s known as vigorish, which is the fee charged by the book for facilitating the bet. You can think of it in similar terms to a commission you would pay on a transaction, or the mark-up charged by retail outlets on products they sell.

To remove the juice from moneylines the first step is to convert the betting odds to implied probabilities using risk/return=implied probability. For a moneyline of -600, if a bettor risks $600 they win $100 and therefore the return is $700 ($600 stake + $100 win). So here the math is 600/700=0.8571 (85.71%). If you don’t remove the vig or juice, you won’t know what the sportsbook actually thinks is going to happen in the game. Calculating the vig on a betting line also helps you identify those bets that are simply overpriced. For more great articles on sport betting tactics and tips, check out our guide to the sharpest strategies in the business. Liverpool v Chelsea Premier League Betting Guide: Thursday 4th March Mar 2, 2021 328. Horse Racing Horse Racing. Free Horse Racing Tips and Trends: Sat 6th March 2021 Free horse racing tips and trends. Andy Newton Mar 4, 2021 2,995.

Sportsbooks are for-profit entities and in the business of making money. Since there are simply no guarantees as to what the end result of a sporting contest will be, the vigorish helps to insure they are covered regardless of the outcome.

We’re going to take a closer look at the concept of vigorish right here, including how it’s calculated and what it means for your overall bottom line. Here’s what you need to know before you bet on sports in Colorado.

What is vig (or vigorish)?

If you place a bet at standard odds of -110, the return you see will be less than your original wager amount. For example, if you place a $1 bet at those odds and go on to win, you’ll get back a grand total of $1.91: your initial stake plus a profit of $0.91.

Instead of doubling your money, you’ve received a 91% return. That’s not bad for a day’s work. So where does the other 9% go?

That’s the fee that the sportsbook keeps for itself for offering the bet. Known as vigorish or juice, this is how sportsbook operators make their money regardless of the outcome.

Let’s consider a random game in which the odds on both sides of the equation are set at -110. It appears to be a toss-up, so the book has attracted nearly even action on both sides.

At the end of the day, one side will win while the other will lose. For sportsbooks, no matter what happens, they know they are keeping a portion of the pool.

The winning side will be paid out, while the losing tickets will move on to play another day. For a sportsbook, the hope is that what they pay out will be less than the amount they get to keep.

Vigorish is essentially a built-in cushion to ensure that happens. For many casual bettors, they simply look past it and call it a day. If they win more than they lose, they’re happy campers.

Seasoned bettors look at vigorish differently. They know that it needs to be factored into the equation. To profit on a long-term basis, they need to “beat the vig.”

For bettors to break even when betting at odds of -110, they need to win about 52.4% of their bets when the vig is factored in.

How to calculate vig

For standard odds of -110, the math has been done thousands of times over. The vig — or juice or amount kept by the sportsbook — is 4.54% at these odds.

Here’s another way to think it through.

When you see odds of -110, that can also be interpreted to mean that you have to bet $11 in order to see a return of $10. If the odds were exactly the same on both sides of the equation, the two bettors would be betting a total of $22.

The winning side will get back a total of $21 — the initial stake of $11 plus a profit of $10. The extra dollar has been kept by the sportsbook as vigorish. If we divide the $1 vig by the total amount wagered of $22, we come out with 4.54%.

Of course, both sides of the betting equation are not always equal, so calculating the actual vig isn’t as clear cut. For those who like to do it themselves, there is a formula that helps you figure it out.

Vig = 100 * (1 – p * q/p + q)

In the above formula, p and q represent the decimal payout for each outcome of the bet. Yep, that means you would have to convert the odds to decimal form to figure it out.

That’s an entirely different kettle of fish. Thankfully, there are a number of helpful calculators on the internet that can help you figure out the vig in an instant without racking your brain.

Is the vig the same for all bet types?

While it would be great if the answer to that question was a simple “yes,” the reality is different. The vig will vary based on the bet type. For spreads and totals, the vig will fall into the range used for our example above.

However, it will vary based on the actual odds, which can fluctuate based on market action, book standards or other tweaks implemented. For moneyline, the vig will vary dramatically based on the listed odds.

Let’s take a look at the details for each of the three main bet types.

Vig on point spread

For most sportsbooks, the standard odds listing for point spread bets is -110. Upon the initial release of lines, both the underdog and favorite side of the bet will be listed at those odds.

After bets begin to come in, it’s not uncommon to see movement in one direction or the other based on the action. For example, if lots of money comes in on the favorite side, the odds may be adjusted to -115 on that side and to -105 on the other.

This is done in a bid to even out the action as much as possible. Sportsbooks aren’t in the business of exposing themselves to liability, so the goal is to keep it as even as possible on both sides.

Naturally, that’s not always the case. One side of a bet can get hammered with action regardless of line moves. That’ll open up the sportsbook to potential losses, but the public isn’t always right, either.

At the end of the day, the goal is for the sportsbooks to pay out less than they take in. Vigorish helps to ensure the scale is tilted further in their favor.

While -110 odds are considered the norm for the industry, there are operators out there who will offer odds of -105 for point spread bets either on a promotional or ongoing basis.

That may not seem like a huge difference, but it can absolutely add up for any bettor who wagers a decent level of volume. Consider the potential return for a successful $100 bet at both price points.

• Odds of -110: $90.90 profit
• Odds of -105: $95.20 profit

For a single $100 bet, the difference is only $4.30. While that may not seem like much, multiply that difference for 100 correct wagers, and you’re looking at $430. That’s far from chump change. Ticks of difference in the favor of bettors can make a huge difference for the bottom line.

Vig on totals

The vig for totals — also known as over/unders — is basically the same as for point spread bets. The standard odds are -110, but some operators may deviate slightly.

The odds for totals wagers will also move based on market action. One side could rise up to -112 or even -115, while a side that’s not seeing much action could hit -108 or -105.

For experienced bettors, finding the most attractive price is part of the game. New bettors can get in on this as well by partaking in what’s known as “line shopping.”

This simply means that you’re comparing the odds at multiple operators in a bid to find the most attractive prices. Many moons ago, this wasn’t an easy trick to turn, but it’s much simpler these days.

The odds and lines from legal sportsbooks in Colorado are easily accessible, so comparing offerings takes just a couple of minutes.

That can add up to time very well spent. As mentioned, the seemingly minor ticks of difference can add up to a lot over the course of a sports season or betting year. Consider the returns for successful $100 wagers at the following odds.

• Odds of +100: $100 profit
• Odds of -105: $95.20 profit
• Odds of -110: $90.90 profit
• Odds of -115: $87.00 profit
• Odds of -120: $83.30 profit

The vig charged by sportsbooks eats into potential profits, but bettors can help mitigate the damage by seeking out the best prices.

Moneyline and the vig

Odds on the moneyline can be all over the map, so the vig can be tougher to discern. However, you can rest assured that it’s built into the equation.

Payouts on winning bets on the favorite side will drop right along with the odds, but they’ll increase on underdogs as the odds rise. At the end of the day, the sportsbook operator has some wiggle room built into the equation in the form of a vig.

For games that appear to be tight between two evenly matched squads, you may see odds offered in the range of -110, such as one side at -105 and the other at -115.

However, many matchups are listed with clear favorites and underdogs. The favorite side could fall in the range of anywhere from -105 to astronomical levels depending on the sport, such as -250 or -400.

On the underdog side, it’s a similar story. Dogs that aren’t that far behind their competitors could be listed at +100, while serious long shots could be listed at exorbitant odds such as +500.

Juice Betting Terms

Line shopping is important for both spreads and totals, but it becomes even more imperative when it comes to the moneyline. Odds at sportsbooks aren’t always created equal, so a little shopping around can do wonders.

For a quick example, consider a game with a clear-cut favorite that’s listed at -155 on that side and +135 for the dog. If you shop around a bit, you could find that another operator has the same game listed at a split of -140/+120.

Just like that, you’ve increased your profit potential for a game you planned on betting on. For further perspective on how much of a difference this can make, consider the payouts on winning $100 bets at the following odds on the favored side.

• Odds of -125: $80 profit
• Odds of -150: $66.70 profit
• Odds of -175: $57.10 profit
• Odds of -200: $50.00 profit

Let’s look at the same on the underdog side.

• Odds of +125: $125 profit
• Odds of +150: $150 profit
• Odds of +175: $175 profit
• Odds of +200: $200 profit

When looking to place a bet, always factor the potential payout into your line of thinking. Each tick of difference on the odds board can have a direct impact on your overall bottom line.

The vig for other bet types

Just like with moneyline betting, the vig charged by books on other bet types isn’t as clear cut as it is with spreads and totals. However, you can remain assured that it’s there.

We’ll walk through how to calculate the vig in a sec. For now, let’s consider the example of a prop bet with a range of five choices. Typically, the book will consider one outcome to be more likely than the others, and so on.

That’ll result in a range of odds that looks something like this, listed with the payouts offered for a successful $20 wager.

• Odds of -115: $17.40 profit
• Odds of +100: $20 profit
• Odds of +120: $24 profit
• Odds of +150: $30 profit
• Odds of +180: $36 profit

The less likely something is to happen, the more of a bounty will be paid by sportsbooks. Underdogs are going to come in here and there, and that’ll place the book on the hook for some big payouts.

However, remember that sportsbooks are also taking in plenty of action elsewhere, and not all of it is successful. When you add in the vig, the book is designed to come out ahead.

More Sports Betting Articles

What vigorish means for your bottom line

You can win more bets than you lose and still come out behind. How is that possible? That’s due to the juice, which needs to be factored into your thought process to achieve the goal of long-term profitability.

If you’re placing all of your bets at odds of -110, you’ll need to win 52.4% of your bets just to break even. Naturally, not all bets are placed at that price point. As the odds you are betting at deviate, so too will the break-even percentage.

However, it’s safe to use this as a benchmark for spread and totals bets. When it comes to moneyline and other bet types, it’s going to vary.

In all cases, tracking your bets over a range of time will provide you with your ultimate bottom line. While that can be time consuming, it’s a valuable step to take on the path to long-term profitability.

You should try to explore every possible avenue for maximizing the potential returns on your sports
wagers. This is a good idea even if sports betting is just something you do for a bit of fun. It’s especially
important if you’re serious about making consistent and long term profits.

There are some obvious ways to maximize your returns when betting on sports. These include learning
as much strategy as possible, and working on improving your fundamental betting skills. There are other
options too, some of which a lot of bettors don’t even know about.

One such option is betting with reduced juice. This is something that every serious bettor should be
aware of, but there’s a surprising amount of confusion and misconception regarding the term reduced
juice. We say surprising because the basic concept is very simple. And yet there are plenty of people
who don’t really understand it all. There also those who think it’s only for high rollers, which is simply not true.

The purpose of this article is to explain exactly what reduced juice betting is. We also look at its pros and cons, and
compare it to using the bonuses and free bets that are available from any betting sites. For those of you who already understand
the concept, we start the article by covering where to bet if you’re looking for reduced juice. Or, for a general overview, you can
view the video we have put together below:

Where to Bet with Reduced Juice

You have two options when looking to bet online with reduced juice. These are as follows.

1. Use a specialist reduced juice site.
2. Use a “traditional” sports betting site that offers reduced juice on specific lines or at specific times.

An account with a specialist reduced juice site is almost essential if you’re anything more than the most casual of sports bettors. It’s unlikely you’ll want
to do ALL of your wagering with such a site though. In any case, there are not many high quality examples of specialist reduced juice sites.

So it’s also worth having an account with one or more of the other sites that offer SOME reduced juice lines. You’ll understand the reasons why we
recommend this approach once you’ve read the whole of this article. For now, here are top recommendations for reduced juice betting sites.

Reduced Juice: An Explanation

Let’s start with the word juice. You’re probably familiar with the term vig, or vigorish, if you’ve been betting for any length of time. This is a term used to
describe the commission that’s effectively charged by bookmakers on each and every bet that they take. Juice is simply an alternative word used to
describe the same thing.

If you’ve never heard of vig or juice at all, or really don’t understand the terms, then you should read our
article on how bookmakers make money before proceeding.

If you know what juice/vig is, then you should also know that minimizing how much of it you pay should is a good thing. It should directly help you to win
more money. Or, at the very least, it should help you to lose less.

In basic terms, this is what reduced juice betting is all about. It’s simply a way to pay less juice.

Let’s use an example to illustrate this further. We’ll use football, as it’s the most popular sport to bet on in the US. As you probably already know, a
significant percentage of football betting is done on the point spreads. The “standard” odds for a point spread are -110. So for a match between the
Dallas Cowboys and the Washington Redskins, you might see a sports betting site offer the following line.

Can you spot the difference?

The odds are better at this site. At -105, you only have to stake $105 for the chance of winning $100. This might not seem like a big difference, but over
a large number of bets it can have a significant impact on your overall profit or loss.

Based on this fact, it should seem fairly obvious that reduced juice betting is a good thing. Don’t rush to join a reduced juice betting site just yet though.
You should first understand that things are not quite as clear cut as they seem.

Pros & Cons of Reduced Juice Betting

The above example highlights the main advantage of reduced juice betting. You have to risk less money to win the same amount. To put it another way,
you get a better return relative to your stake on all winning bets. We started this article by explaining the importance of maximizing your returns, and
betting with reduced juice clearly helps to achieve this.

There’s another big advantage of using reduced juice betting sites too. You’ll typically be able to bet more. A traditional betting site might limit you to
staking $1-2,000 on each wager.But the limits at a reduced juice betting site might be $5,000, $10,000 or possibly even higher. This is a real benefit if
you’re a winning bettor and want to stake higher amounts.

Reduced juice betting sites are not without their disadvantages though.

These sites are obviously making lower margins on each wager they accept, due to the lower commission. This has to be offset somehow. Generally
speaking, it’s via some or all of the following.

• Lower bonuses (or none at all)
• Less special offers and promotions (or none at all)
• Sharper lines
• Poor customer support

Some bettors are prepared to accept these disadvantages in exchange for paying less juice. And it may be that you are too. It’s important to be aware of
them though, and they should certainly influence your decision about where to bet.

Comparing Reduced Juice to Bonuses

One of the disadvantages of using a reduced juice betting site that we mentioned above is the lack of bonuses. This is perceived by many to be the biggest
disadvantage of all, in fact.

But is that much of an issue to miss out on some bonuses when you’re paying less big?

Let’s find out.

We’ll now compare the net results of wagering with reduced juice with the net results of wagering with a bonus.

Many sports betting bonuses are issued as free play credits, not as cash. When you wager with free play
credits, only your winnings are returned and not your stake. For example, when using cash, a successful
$110 wager at odds of -110 would return a total of $210. This is the $100 in winnings plus the original $110
stake. When using a bonus, you’d be using $110 of your free play credits. The return is just the $100 in
winnings.

For the purposes of this hypothetical comparison, we’re going to assume we’ve just been issued a bonus of $400 worth free play credits. We’ve then
decided to make ten equal wagers of $40 using those credits. Each wager is at -110 odds.

Juice Betting Term

Let’s say we managed a 60% win rate with those wagers. So we’ve won six, and lost four. Each winning wagers has returned $36.37. Our total return is
therefore $218.22 (6 x $36.37).

So far so good. We’re $218.22 up. But free play bonuses tend to come with rollover requirements. These require us to wager a certain amount before
we’re allowed to withdraw any proceeds of our free play credits.

Typical rollover requirements are six times the amount of the bonus. This would leave us with a total of $2,400 to wager before we’ve “cleared” the
bonus (6 x $400). We decide to increase our stakes to $60 per wager, in order to meet these requirements more quickly.

To wager the full $2,400, we’d need to make 40 wagers at $60 stakes (40 x $60 = $2,400). Let’s say we make these wagers all at odds of -110 again, and
we achieve a 55% win rate. As we’re betting with cash rather than free play credits, the total return on a $60 wager at -110 will be $114.55.

• We’ve wagered a total of $2,400
• With a 55% win rate, we’ve won 22 of our 40 wagers.
• Our total return in is $2,5210.10 (22 winning wagers at $114.55 each).
• Our overall profit is $120.10 ($2520.10 in returns less the $2,400 wagered).

If we add the profit here to the money made from our free play credits, we’ve got a total profit of $338.32. We’ve met the rollover requirements, so that is
now “our” money.

Now let’s see what would have happened if we’d have made the exact same sequence of bets using a reduced juice betting site. We’ve got no bonus, but
the odds are all at -105.

First we do the ten wagers at $40 each, winning six of them.

• Ten wagers of $40 each = $400 risked
• Profit per winning wager at -105 = $38.10
• Return from six winning wagers = $468.60
• Profit = $68.60

Our profit at this stage is less than the $218.22 we made when using free play credits in the earlier example. But what happens when we do the next set
of wagers?

• 40 wagers of $60 each = $2,400 risked
• Profit per winning wager at -105 = $57.15
• Total return per winning wager at -105 = $117.15
• Return from 22 winning wagers = $2,577.30
• Profit = $177.30

No Juice Betting

The profit of $177.30 here is greater than the $120.10 profit we made from the same wagers in the earlier example. But our total profit across all wagers
using a reduced juice site is $245.90. Compared to the total of $338.32 we made when using free play credits and then meeting the rollover requirements.

So what does this tell us?

The obvious answer is that playing with a bonus is better than using a reduced juice betting site. But it’s actually not that simple. This is just one
hypothetical example. A different set of wagers, with a different set of results, could easily make a similar comparison favor reduced juice betting.

And we’re actually not trying to convince you either way. You don’t need to choose reduced juice betting over betting with a bonus, or vice versa. There’s
nothing wrong with doing both. As with betting in general, it’s all about trying to do the right thing in the right situation. There are no definitive rules
regarding the best overall approach.

The purpose of this article was to provide some insight into what reduced juice betting is, and how it
compares to betting using bonuses. This is useful information for any bettor.
We also wanted to make the point that reduced juice betting has both advantages and disadvantages.
We do recommend betting with reduced juice in the right circumstances, but we don’t advise using
a reduced juice site for ALL of your betting. You should also make the most of the bonuses and other
benefits that traditional betting sites offer.
Remember that there’s one big advantage in using a range of online betting sites. It makes it easier to
compare odds and shop for the best lines. In the long run, this can make a much bigger different
to your overall profit than reduced juice betting or bonuses.