Today Fixed Matches
Cambuur – Telstar : 1 Odd: 1.30 FT: ?:?
Sporting – Santa Clara : 1 Odd: 1.50 FT: ?:?
Charging Vigorish/The Overround
The main technique bookmakers use to put the odds in their favor is the inclusion of vigorish. Vigorish, or vig, is also known as juice, margin, or the overround. It is built into the odds bookmakers set to help them make a profit. In essence, it’s a commission charged for laying bets. To best explain vig, we’ll use a simple example of a coin toss.
The toss of a coin has two possible outcomes and each is equally likely. There is a 50% chance of heads and a 50% chance of tails. If a bookmaker were offering true odds on the toss of a coin, they would offer even money. This is 2.00 in decimal odds, +100 in moneyline odds, and 1/1 in fractional odds. A successful $10 bet at even money returns $20, which is $10 profit plus the initial stake back.
Let’s say this bookmaker had 100 customers all betting $10 on the toss of a coin, with half of them betting on tails and half of them betting on heads. The bookmaker would stand to make no money at all in this scenario.