Vigorish [Meaning] - MasterTerms.com

In Craps, vigorish (often abbreviated as “vig”) is charged on certain bets, particularly the bet placed on the pass line and the don’t pass line. When players win these bets, the house retains a small portion of the winnings as a fee for facilitating the game. The standard vigorish is usually set at 5% of the winnings, but it can vary depending on the casino. This means that for every $100 won, the player would owe the casino $5 in vigorish.

Vigorish Example

For example, if a player bets $10 on the pass line and wins $20, they will need to pay $1 in vigorish to the casino, resulting in a total payout of $19.

Glossary: Sportsbook
A sportsbook is a facility or online platform where individuals can place bets on various sports events.
Glossary: True Odds
True Odds refer to the actual probability of an event occurring in a betting scenario.
Glossary: Book
A "Book" in sports betting refers to a company or individual that takes bets on various sports events.

Alternative Meanings:

Vigorish
In Baccarat, the banker bet offers a slightly better chance of winning compared to the player bet, so to maintain the house edge, a 5% commission (vigorish) is charged on all winning banker bets. This fee ensures that, despite the slightly higher odds for the banker, the house still retains a profit over time. The commission can vary, but 5% is the standard rate in most casinos.
Vigorish Example
For example, if a player bets $100 on the banker and wins, they would receive $95 in winnings, as $5 (5%) would be taken by the house as vigorish.
Vigorish
Vigorish is a crucial aspect of sports betting, as it ensures that bookmakers remain profitable regardless of the outcome of the events they cover. Typically, the vigorish is built into the odds presented to bettors, meaning that the odds for both sides of a wager will reflect a slight markup. For instance, if a bookmaker offers odds of -110 on both sides of a bet, this indicates that a bettor must wager $110 to win $100. The extra $10 represents the vigorish, which the bookmaker keeps as profit.
Vigorish Example
For example, if a bettor places a $100 wager on a football game with -110 odds, they would win $90.91 if their bet is successful, and the bookmaker retains the vigorish of $9.09, which is the difference between the total amount wagered and the payout.