The vig can skew how much a bet will actually pay if it’s a winner
Removing the vigorish, commonly known as the vig or juice, when calculating sports bet payouts is a practice that can provide bettors with a clearer understanding of potential profits and a more accurate assessment of their betting decisions.
The vig is essentially the bookmaker’s commission, built into the odds to ensure they make a profit regardless of the outcome. When you place a bet, you are essentially paying this fee, and it affects the overall potential return on your investment.
Calculating payouts without the vig allows bettors to see the true odds and potential profit without the influence of the bookmaker’s commission. This transparency is valuable because it helps bettors make more informed decisions based on the actual probability of an event occurring.
For example, if you have a -110 moneyline bet, which is a common odds format, removing the vig means considering it as a 50/50 proposition instead of factoring in the bookmaker’s cut. This adjustment can influence decision-making, especially when comparing odds across different sportsbooks.
Furthermore, understanding the true odds without the vig enables bettors to identify value bets more effectively. Value in betting exists when the implied probability is lower than the perceived probability of an outcome. By removing the vig, bettors can better evaluate whether a bet provides positive expected value.
It’s essential to note that removing the vig doesn’t change the actual odds set by the bookmaker. Instead, it helps bettors assess the real value of their bets, making it a valuable tool for those who want to approach sports betting more analytically.
Emma Rodriguez is the Proofreader at the Big Blind, with seven years of experience and five years in online gambling. She plays a crucial role in maintaining content quality by ensuring error-free, reader-friendly information about the gambling industry.
